When you're creating your estate plan, you may have an heir that you don't really feel comfortable leaving large amounts of financial assets to. Perhaps they have had problems with drugs, alcohol or gambling addictions in the past. Maybe you're just afraid that they...
Estate Planning
How can a trust help you avoid unnecessary probate hassles?
When you leave a will behind, the process your estate goes through before the beneficiaries take control of their share of assets is known as probate. It is a court-controlled process that consists of establishing the legality of the will, consolidating assets and...
Adding advance directives to your New York estate plan
Your estate plan may not protect you as well as you think it will. If you don't include all of the right documents and keep everything accurate and up-to-date, issues may eventually arise that your estate plan could address but does not. Far too many people only think...
Why don’t people have an estate plan?
It can be argued that every adult should have at least a simple estate plan. It can still be used to divide assets, even if they are minimal, and estate planning goes far beyond the financial side. You can also use it to set up a medical power of attorney, for...
Reasons to update your estate plan
Creating an estate plan is a responsible thing that all adults should consider. However, an estate plan won’t remain the same forever. As your life changes, you should update your estate plan to reflect them. Some of the times you should update your estate plan are...
Select your executor after thinking it over thoroughly
Of all the issues to consider when making your estate plan, naming your executor is certainly one of the most crucial. That individual will be expected to make your final wishes happen according to the exact specifications you left. What does an executor typically...
A trust gives you more control than a will
Most people think of a will as the basis of their estate plan. Some people believe that's all they need. They just assume they have to write out a document saying who is supposed to get what assets, and that's all they need to do. Writing a will is a great place to...
What can be done about a rogue executor?
The executor of an estate plays a crucial role in the probate process. They are tasked with identifying and consolidating assets belonging to the estate for passage to the intended beneficiaries. It means that the executor runs the show for the period the estate goes...
Protecting your children’s inheritance when you remarry
Parents usually want to give their children more opportunities than they had in life. You may have always intended to pass much of what you achieved and earned during your life on to your children when you die. However, when you remarry, your children's inheritance...
Pets can be part of your estate plan
Many people love their pets and want them to be taken care of no matter what. Some people don’t realize that they can leave instructions for pets in their estate plan. There are several things that you should think about when you’re planning for your pet. Taking the...
