Having a well through out, defined estate plan is one of the most important things we can do for ourselves and our families during our life. Without an estate plan, your assets may be thrown into the uncertainty of probate court and legal challenges from interested parties that may feel…
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New York Estate Planning & Elder Law Blog
Reasons to Think Twice about Do It Yourself Estate Plans
Beginning with a list of your assets can be a simple way to begin estate planning. Unfortunately, statistics compiled by Caring.com reveal that more than half of Americans do not have a will. This is despite the numerous advantages offered by having a will which include avoiding potentially high legal…
Nearly Half of Americans Over 55 Have No Will or Estate Plan
A recent study by Merrill Lynch and Age Wave found that almost half of Americans over 55, have no idea what will happen to their assets when they die because they don’t have an estate plan or will. People often put off planning their estate because they are not ready…
Legal Basics: Questions a NY Estate Planning Lawyer Can Help You Address
An estate planning attorney has the potential to help with a number of issues. Making sure to review all applicable issues with your attorney, however, can prove particularly difficult. Some people are not even sure what issues to bring up with their estate planning lawyer can prove particularly difficult. As…
The Life-Changing Magic of Planning Your Estate
Marie Kondo, an organizing consultant, has taken the world by storm with her two-step approach to tidying up in her best-selling book, The Life-Changing Magic of Tidying Up: The Japanese Art of Decluttering and Organizing. First, she encourages people to one-by-one hold in their hands everything they own. Once in…
Estate Administration Disputes
Family disputes often arise in the estate administration process. Especially if there is money at stake, a disgruntled family member or other interested person may be unhappy with his or her inheritance, or lack thereof. A personal representative of an estate or trust may be forced to deal with a…
Commonly Asked Questions about 529 College Plans
A large number of people in New York are curious about 529 college plans as the result of campaigns run by the state. Not only do 529 college plans provide tax advantages, they are also particularly helpful when estate planning is involved. Despite the benefit of 529 college plans, there…
Death and Your Digital Identity
What happens to online accounts when you die? Digital identity is defined broadly and may include a person’s email accounts, online financial accounts, cloud accounts, digital music accounts, blogs, social networking identities, and digital files. Digital files are not limited to data files but also include photos, audio, and video…
The Basics: Alternatives to Litigation Over an Estate
Although passing an estate through probate can be an unnecessarily long and expensive process, it is usually an administrative task through which heirs receive their inheritance as the deceased saw fit to award. However, family dynamics can complicate the expediency at which executors are able to pass some estates through…
Aging in Place Through Continuing Care Retirement Communities
Entering into a nursing home or other residential skilled care facility can be hard enough on a beloved older family member without having to worry about having to leave that facility and moved into another one. Unfortunately, this is a reality all too many seniors face these days as nursing…