What Happens if I Die without a Will?
What happens if I die without a Will featuring Daredevil Dan If a person dies without leaving a Last Will & Testament, that person has died intestate. Intestacy is the default rules in New York has as to who would inherit your property if you did not have a Will. It is codified in EPTL […]
What is a Probate Estate?
Probate is defined as the official proving of a Will. Many people think that when they create a Will all their assets will be distributed according to their will. This may not be the case. The only assets that can be administered according to the terms of the Will are assets in the probate estate. […]
Seven Benefits of a Revocable Living Trust
Many Americans simply leave a will to distribute their assets upon their passing. However, the creation of a Revocable Living Trust creates several benefits unavailable to those simply leaving a will. Here are seven benefits to creating a Revocable Living Trust 1) Avoiding Probate- A great benefit of a living trust is that it […]
The Power of the Power of Attorney
A power of attorney is a very interesting and possibly powerful document. The document gives a person you choose, your agent, the power to act for you. The powers given to the agent can be incredibly broad or very specific. For instance, you can narrowly tailor an agent’s power to act only for real estate […]
The Electronic Age and Estate Planning
The world is changing every single day. In terms of technology it seems that every year, phones, televisions and electronic devices are continuing to evolve. With all this technology, many people actually have valuable “electronic assets”. These assets may include website domain names, accounts with email providers, Facebook, Amazon and many other accounts. Just like […]
What is Power of Attorney?
Estate Planning is a complex and in-depth process that is more than just preparing and disposing of your estate when you pass away. There are important questions and steps that must be asked and addressed. One of those steps that must be addressed is who should be able to take care of your finances in […]
What is Elder Law?
Many people may not understand what elder law is or even know that they are looking for its services. Elder Law is a legal term used that covers a range of legal services targeted towards senior citizens & the aging population. There are three main categories and legal services involved in Elder Law and they […]
Wealthy are Suffering without Estate Planning
In a recent story & survey by CNBC, it has been shown that more then 1/3 of high net worth families do not have an estate plan set up. They have surely not taken the basic steps needed in the case that someone dies, to protect and provide for their loved ones. The survey has shown that 38 […]
What is a Healthcare Proxy?
A proper estate plan does not just include a will but also includes a healthcare proxy and a durable power of attorney. The healthcare proxy and durable power of attorney are documents that can be used in the event of your incapacity. A healthcare proxy is a legal instrument that gives your agent the authority […]
Why Do-It-Yourself Estate Planning is a Terrible Idea
Many people do not want to spend their money to have proper estate planning done. They think that they can just do it themselves with a website like Legal Zoom or Rocket Lawyer. This is like requiring surgery and attempting to do it yourself. Here are the top 5 reasons why you should not have […]