When it comes to estate planning at times parents may want to disinherit a child, or children. Some of us may simply want more clarity or assurance on the topic of disinheriting or making sure that an ex-friend or relationship gets nothing once we are gone. In reality if you’re worried about an ex-friend or…
Details
When it comes to estate planning one of the major concerns for most parents is security for their minor children. Who will take care of them and become their guardian in the event that something happens to both parents? If there is only one parent to begin with due to death or abandonment there is…
Details
Estate planning involves liquidity, whether it is physical cash or something that can be sold for cash like jewelry or real estate. Cash, as most of us learn as we get older, can cause those that desire it to do strange things. So one of the first things to consider when creating an estate plan…
Details
When it comes to estate planning at times parents may want to leave unequal amounts of property to their children. Now while they wish to leave more to one child versus the next they don’t want such a decision to come across as if they are favoring one child over another. It is important when…
Details
In addition to the selection of either a Will or living trust, a comprehensive estate plan should include a Health Care Proxy and Living Will (sometimes within the same document) and a durable general Power of Attorney. The Health Care Proxy and Living Will address the termination of life support in the event of a…
Details
Estate Planning is a very simple concept. Unfortunately, it is also the subject of many misrepresentations and misinterpretations. This confusion causes many to create an improper estate plan. To avoid this result, we need to take the time to understand what estate planning is. The following provides an explanation of the estate planning process so…
Details
If you want to pass on your belongings, big or small, to your next of kin, a trust is a great idea. There are many types of trusts depending on their specific structures and conditions. And you need to do some thorough research to decide which one is best for you based on your personal…
Details
We receive a lot of questions related to Medicaid and irrevocable trusts. Families usually reach us in order to receive guidance when their loved ones receive an unpleasant diagnosis, or they get admitted into an old age home. Under such circumstances, people start gaining knowledge and understanding about estate planning processes in order to protect…
Details
When two lovebirds walk down the aisle, never in their wildest dreams do they imagine that their future marriage could culminate in divorce. It may seem like a logical conclusion, with approximately 9 divorces per 1000 individuals in the state of New York, but most of us refuse to see that side of the coin…
Details
An essential part of estate planning in NYC is preparing a legalized document with extensive details about how you want your funds to be used and distributed after you pass. One method to ensure that your last wishes are fulfilled is by creating a living trust in NYC. There are many plus points involved when…
Details