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If you’ve been asked to help a loved one manage their assets, you likely know that there are many complex issues to consider. One question that many people in this situation are often left wondering is whether it is better to be added to a bank account as a joint…
A power of attorney, including a heath care power of attorney, are crucial estate planning documents. This is especially important if you have Alzheimer’s disease, dementia, or are suffering from another chronic and debilitating illness. Individuals who are widowed or alone should carefully consider who they can trust to manage…
A trust is an important estate plan document. Other estate planning documents include a last will and testament and intestate succession. Every state has laws that determine who your heirs are and what proportion of the estate the heir is entitled to receive. Heir refers to blood relatives and…
If you finally wrote your estate plan in 2019, you likely know just how difficult it can be to sit down and write an estate plan. Even after creating these documents, there are still several obstacles that can occur and prevent you from achieving your estate planning goals. As a…
Creating a thoughtful estate plan is one of the greatest gifts anyone can leave their loved ones. It is important to update your will when major changes occur. These might include marriage, divorce, opening or closing a business, buying or selling real estate, or birth or death of an heir.…
One of the most repeated pieces of estate planning advice is to routinely review and update estate planning documents. It is particularly important to revise estate planning documents following major life changes or if a beneficiary under a will passes away before the testator does. If a person fails to…
Based on data compiled by the United States Department of Agriculture’s 2017 Census, there were approximately 33,438 farms in New York in 2017. This includes 6,886,171 acres that are currently in production. As anyone who lives on a farm can tell you, life on a farm is unique in various…
Recently, after a mother in Oregon lost her four-year-old son in an accident, the woman to take the boy’s body back to the family’s ranch home. While the mother wanted a little more time with her child, she was instructed by a medical examiner that this request was not capable…
Not seeing medical providers when necessary. Being financially exploited by others. Not being able to take care of financial situations due to incapacity. These are just some of the common problems that people encounter without a proper guardian. In these situations, it often becomes necessary to petition the court so…
The Internal Revenue Service recently announced that beginning in 2020, the first $11.58 million of a taxable estate is not subject to federal estate taxes. As a result of these changes, a majority of estates will not be subject to federal taxes. Even though estate planning is not as big…