It’s argued that everyone should have a will, even if you don’t have an estate to consider distributing. Many young people wait to write their will until they’ve developed more assets, bought a home and created a nest egg. While a large focus of a will is asset...
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Estate Planning
Why those with complex estates may require a pet trust
You may have diversified your personal holdings to protect yourself and your family members against any economic changes. However, the more complex your holdings are, the more likely it is for your family members to fight over some of your assets after you die. The...
Can your adult child inherit your home in a 55+ community?
As the number of seniors increases, so do the number and variety of 55+ communities. From neighborhoods with single-family homes to luxury high-rise condos, New York has something for everyone who wants to downsize a bit and leave some of the maintenance and other...
Should you include a revocable trust in your estate plan?
Planning how your assets will be distributed when you die is one of the most important steps you take to safeguard your future and protect your loved ones. Without a clear plan, your estate could become the genesis of a protracted conflict that can result in...
Is it time to update your power of attorney?
Power of attorney is an important estate planning tool that allows you to designate a trusted friend or family member to make financial and healthcare decisions on your behalf should you be incapacitated. Like with the other estate planning tools, a power of attorney...
2 benefits of an irrevocable trust
There are many options people have when estate planning – one such option is a trust. But, what is a trust? A trust is a legal document (much like a will) that allows someone to set aside assets for a beneficiary, reducing distribution time, paperwork and estate...
Use caution when choosing a power of attorney
One component of a comprehensive estate plan is naming a power of attorney who can take care of your finances and one who can handle your health care. These are important designations because these individuals will act on your behalf to make decisions if you’re...
Can estate planning documents help you avoid an adult guardianship?
Every adult ages differently. Family history, personal lived experiences and various other factors influence the kind of cognitive and physical symptoms that someone experiences as they age. Many older adults retain their mental acuity and independence their entire...
Why it’s smart to have an advanced directive at any age
If you are younger, have no children and have minimal assets, then you may not think that estate planning is important. If you aren’t concerned with estate planning, then chances are you haven’t even thought about an advanced directive. However, advanced directives...
Why online wills just don’t cut it
When you start thinking about creating your first estate plan, you will probably do some online investigation. While you are there, you may come across various companies offering DIY online wills. While they might appear to be a bargain, the problems they could bring...
