If you decide to establish a trust, you will likely need to select someone to make sure that the trust is administered in accordance with your wishes. A trustee is a person who assumes the position of managing a trust’s assets. The regulations to which the trustee must comply are…
Schedule an in-office, Zoom or phone consultation Here.
New York Estate Planning & Elder Law Blog
3 Estate Planning Strategies As You Plan Out 2021
Unfortunately, there’s no one size fits all estate plan. This couldn’t be truer during a year when a large number of uncertainties exist about the future. The Covid-19 pandemic has changed our lives in countless ways, which includes an increased concern about end of life issues. As a result, as…
4 Important Things to Remember about Guardian Ad Litem
Estate planning disputes can arise in countless ways. One of the most common types of disputes involves individuals who cannot successfully represent themselves or argue for what is in their best interest like mentally incapacitated adults or unborn beneficiaries. In these situations, a New York judge will often appoint a…
4 Tips on Adding Powers of Appointment to Your Estate Plan
A power of appointment allows a person engaged in estate planning to direct where interest in an estate or trust is passed. Appointments are often classified as either general or limited/special. A general power of appointment gives the holder broad power to transfer a deceased person’s property. For example, if…
3 Ways to Reduce COVID-19 Risks in Nursing Homes
In September 2020, the nursing home staff at the Soldiers’ Home in Holyoke Massachusetts were indicted on criminal charges in what the Attorney General described as the first criminal case against nursing home operators in connection to the COVID-19 pandemic. Seventy-six veterans at the hospital died as a result of…
3 Tips on Having Long-Term Care Discussions Now And Not Later
It’s a common predicament. After the holidays have concluded, adult children are frequently left concerned about whether their parents can live safe independent lives. These adults often are left feeling uncertain about what the best decision is to make so that their parents remain safe but also do not have…
How to Create an Estate Plan that Can Be Quickly Modified
People who have an estate with various assets often need to be prepared to contend with sudden changes in both market valuation and tax laws. During the COVID-19 pandemic and an era of both political uncertainty and quickly changing markets, it can be particularly difficult to decide what assets to…
3 Ways Life Insurance Policies Play Vital Roles in Estate Plans
The best types of estate planning involves a multi-faceted approach, which both addresses financial as well as health concerns. While many people are aware of the benefits provided by estate planning tools like wills and advance healthcare directives, one helpful but commonly overlooked estate planning tools are life insurance policies.…
4 Estate Planning Reminders During The COVID-19 Spike
Estate planning does not always appear on people’s things to do. Living through the coronavirus pandemic as well as approaching the second wave of the COVID-19 pandemic, however, should change the urgency with which people approach estate planning. New York currently has the fifth-highest number of COVID-19 cases among the…
3 Invaluable Estate Planning Trusts You Should Consider
Trusts are a nuanced part of estate planning and can make sure that assets are passed on to your loved ones in a controlled manner. While there are many terms and concepts to grasp when it comes to understanding trusts, it also helps to appreciate that there are several types…