New York Estate Planning & Elder Law BlogAs estate planning professionals, we encounter a number of situations and are very familiar with the most common types of estate planning errors that people make. No matter if these mistakes are the result of laziness or lack of care, errors in estate planning have the potential to create a number of substantial obstacles. […]
Search Results for: estate planning for parents in NY
Estate Planning and Assisted Reproductive Technology
Each year, thousands of Americans rely on assisted reproductive technology to have children. While this advancement in the medical industry has allowed people who would have otherwise been unable to have children do so, it is not without its complications. One of the frequently overlooked areas impacted by artificial reproductive technology is estate planning. […]
Estate Planning Advice for Single Parents
Regardless of age, for parents who are interested in estate planning, the most pressing issue is almost always caring for children. The expectations that a parent has for their child often end up shaping the estate plans that get written. For single parents, these conversations are often more critical. Instead of leaving behind a […]
Estate Planning Advice when You Dislike an In-Law
It is an unfortunate truth that not all in-laws enjoy positive relationships with one another. In fact, a number of people experience hostile or acrimonious relationships with their relatives. While there is no requirement that you like your in-laws or treat them well, this situation can be made much more complex if you have a […]
Why Estate Planning is Critical Even If You Don’t Have Children
Estate planning involves a number of personal decisions. The best estate plans are personalized to the individual that writes them. This is why online, one size fits it all estate planning documents are often not the best idea. This is also why some people struggle to complete their estate planning goals. Even if you do […]
The Basics: Estate Planning Issues for Same Sex Couples
Since obtaining the right to marry, same-sex couples have experienced some significant advancements. There are some special considerations, however, that same sex couples must pay attention to when estate planning. For one, same-sex couples must often perform extra planning to fully address. As a result, the assistance of an estate planning attorney can be helpful […]
Popular Estate Planning Strategies That Can Lower Your Taxes
Tax preparation is one of the most important considerations when creating an estate plan. Whenever a person or business creates an estate plan, there are multiple types of taxes to avoid – inheritance taxes, estate taxes, and income taxes, to name a few. Without a proper estate plan, these taxes can eat into a large […]
Why Millennials are Estate Planning Early
For most millennials, the thought of taking responsibility for end-of-life financial planning is a daunting if not unfathomable task. Estate planners acknowledge the hurdle between personal financial planning and estate or trust formation for purpose of end-of-life distribution of assets seems far off for younger clients until they are informed about rules of intestate succession […]
Inheritance Rights of Children with Unmarried Parents
In the United States, the inheritance rights of children with unmarried parents are virtually the same as those of children with married parents. New York estate law allows trust holders to leave property to anyone named in a will, trust, or other joint estate or investment device. Where there is no will or trust […]
“No Will” Probate Intestate Succession in New York
When a person dies without a will in New York, probate rules to intestate succession guide the distribution of asset to relative survivors. New York rules of intestate succession provide that the closest living family member surviving the deceased is entitled to transfer of assets from an estate. The law of intestate succession limits asset […]