The Elements of a Valid Trust
When creating a trust, it is important to understand the specific roles involved. The grantor is the person who establishes a trust. The designated beneficiary is the person who receives the assets held in trust when the grantor dies. Probate is unnecessary because trust property passes outside the Last Will and Testament or Intestacy law. […]
TOD Beneficiary: What You Should Know
Your named beneficiaries will likely have to go through probate to receive your real property after your death if it is only in your name and not held in trust. Although transferring property into trust can ensure your family does not have to wait for a judge to validate your will before distributing your assets, […]
Why Estate Planning is the Best Holiday Gift You Can Give
This holiday season, give your family the gift of peace of mind by getting your estate planning in order. No one likes to think about their own mortality, but it’s important to have a plan in place that deals with illness, incapacity, and death. If you’re gathering with your family for the holidays, take advantage […]
Estate Planning Lessons from Disney’s Encanto
In the early part of 2022, many young families spent a lot of time watching Disney’s award-winning animated film Encanto. Repeatedly. While the movie is obviously a great source of entertainment for kids, estate planning attorneys have also noticed that it contains a lot of valuable lessons that can help people prepare for their family’s […]
The Most Important Estate Planning “To Dos” After a Divorce
Going through a divorce can be painful, overwhelming, and stressful. It’s the end of one chapter and the start of another in your life. Although it might be the right decision, you’re forced to confront various issues. For example, you and your ex must agree to the terms of the divorce, such as child support, […]
You’re Never Too Young to Start Your New York Estate Plan
It is fairly typical for young adults, even those with professional careers aged thirty or more, to believe they are too young to concern themselves with estate planning. Young adults in their twenties and thirties often think they don’t own enough to constitute an estate. However, an estate is the total of all you own […]
Five Common Mistakes to Avoid When Establishing an Estate Plan
You spend the first half of your adult life trying to achieve financial security and the second half of your life trying to maintain it. This adage is why many people spend substantial time and effort, maximizing their legacy goals in their estate plan, ensuring their wishes come to pass. Your life’s work and ability […]
Estate Planning Mistakes People Make Five Ways
The first half of your adult life is spent getting financial security, the second half trying to maintain it. Accordingly, many people spend substantial time and effort in their estate planning maximizing their legacy goals, ensuring their wishes are met. Providing your family through your life’s work is a gratifying feeling for you and your […]
The Risk of Online Do-It-Yourself Estate Plans
We hear this question all the time: “Can’t I just grab a will off the internet, do a transfer-on-death deed for my land, put my kids on my bank account, and be done with my estate plan?” It’s just not a good idea. For the plan to work as you would want it to, it […]
The 5 Must-Haves for New York Estate Plan
As we age, the need for estate planning becomes even more vital. Many people avoid estate planning, because they do not want to think about the end of life, failing health or disability. Others believe that an estate plan is only for rich people. However, an estate plan is helpful for the senior adult and […]