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The importance of having a thorough and complete estate plan cannot be overstated. Not only does it protect your wishes, it also ensures that your loved ones are provided for after you are gone. However, the estate planning process is not a one-and-done deal. It is also important to update…
According to 2010 U.S. Census data, 56.7 million Americans, or almost 20 percent of U.S. residents, have a disability. Within this demographic, over 5 million adults need assistance with self-care and independent living activities, including difficulty getting around inside the home, getting into/out of bed, bathing, dressing, eating, toileting, managing…
In New York, there are several ways to distribute assets at your death other than through provisions in a will or trust. In fact, it is possible to dispose of many of their assets by using “beneficiary designations.” Pay On Death Accounts “Pay On Death” (POD) accounts (also called Transfer…
In the Information Age our digital presence and assets are just as important as our physical estate. Digital assets consist of all of our property that exists online. This can include brokerage accounts, bank accounts, PayPal, and online currency such as bitcoin. However, our digital presence extends far beyond that…
For those who are single or childless, estate planning options are vast and often complicated. It is estimated that over 17 million people who are retirement age are unmarried or childless facing this very dilemma. However, a new wave of estate planners are now facing the same issues of those…
Estate planning is meant to provide direction and security for loved ones when we pass away, but complications can arise in the estate planning process when structuring a plan as a married couple. Each person in the marriage has individual estate planning goals, tax-related objectives, and ideas for the future.…
Last week New York City announced plans to expand its legislative program that helps senior tenants freeze their rent and make living on their own more affordable. Mayor Bill de Blasio has cited a lack of affordable housing as a major problem, and the elderly who live on a fixed…
As discussed in a prior post, the estate planning process is not a do-it-yourself project. An experienced estate planning attorney is necessary to ensure that all of your wishes are met and that your loved ones are provided for after you pass away. However, after the estate plan has been…
According to new research, over forty percent of Americans are caring for their elderly family members, and most are doing so in addition to managing their careers. Cartoonist Roz Chast illustrated these difficulties in her memoir detailing the care of her parents in their final years. However, more employers are…
It has been said that life is a journey, not a destination. So it makes sense that in our last days, on our final journey, we should strive to have a good one–a bon voyage. While talking about end of life issues–particularly our own–can sometimes be uncomfortable, the best way…