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Joint ownership of real estate can be a great way to share ownership and responsibilities with family members, friends or business partners. However, when it comes to estate planning, joint ownership can create complexities that may lead to unintended consequences....
As you go about your daily life, it is easy to put off thinking about the what-ifs. What if you were suddenly hospitalized and could not communicate your wishes to your loved ones? What if you suddenly could not make medical decisions for yourself? Many prefer not to...
A health care proxy grants someone extensive power over your medical care. When your doctor formally determines that you are unable to make medical decisions for yourself, your proxy steps into your shoes, making medical decisions as if they were you. However, this...
If you have been diagnosed with a terminal illness or have concerns about your future healthcare, advance care planning can help make sure your wishes are known and respected. Advance directives are a critical part of this process, allowing you to document your...
A life insurance policy is an excellent way to leave financial assets to your family. If you pass away, you can provide them with financial security. Many people purchase life insurance policies when they become new parents. Even if the policy isn’t needed for...
In New York's bustling environment, business owners are constantly seeking ways to safeguard their assets and ensure smooth operations. One such method is through the use of a business trust, which can provide numerous advantages. Here are several ways a business...
When drafting an estate plan and addressing long-term care needs, many people are wary of the expense of a nursing home or an assisted living center. Additionally, they may be interested in staying in their own home for as long as possible. As a compromise, they will...
When planning your estate, you may encounter the terms revocable and irrevocable trust. Each one serves a unique purpose and offers distinct advantages. It is essential to understand the critical differences between these trust types. Doing so could enable you to make...
You may be interested in bringing up estate planning with your parents. They’re getting older and you want to know if they have a plan in place. You’re just not sure how to bring the topic up. Fortunately, there are some steps you can take to make this conversation go...
When you turn 18, it’s possible for you to make an estate plan. You cannot do it when you’re a minor, so this is your first chance to get a plan in place. But you may find yourself wondering why it would even be necessary. Maybe you just graduated from high school and...