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When making an estate plan, you may need to be aware that people can contest your last wishes. If they're successful, that could mean that a large portion of your estate is left to someone unintended. Will contests can happen for many reasons. Here are a few: 1....
Your estate executor, or estate administrator, is the person that you name to help your family through the probate process. You’re going to write a will that gives them directions. But the executor is the person who follows those directions and does things like paying...
If you’ve started looking into estate planning, you likely already know that New York is among the states that have its own estate tax. That means that if your estate is worth a significant amount of money, you could be looking at it facing federal as well as state...
Parents often seek the help of their kids with estate planning, especially those with children 40 years and above. They may want help accessing the guidance they need, getting their documents ready and so on. However, this can lead to undue influence, which can...
Naming an individual to serve as a power of attorney on your behalf is an important part of the estate planning process. Unlike crafting a will – which concerns your interests in the event of your death – this effort will allow you to protect your interests in the...
If you’re doing your estate planning, one thing you may be considering is leaving your home to your children. This may be one of the biggest assets that you own. There’s also something to be said for sentimental value. Unfortunately, leaving a home to multiple...
One day, you may be unable to speak for yourself. It could happen suddenly through a serious accident such as a car crash. Or it could develop gradually with the onset and advance of dementia or other illnesses. If doctors need to make decisions on your care, it helps...
Medicaid planning is a very important process for older adults who think that they may need to move into a nursing home eventually. Advanced planning helps someone get benefits more quickly when their health begins to decline. Otherwise, there is a lengthy lookback...
Every year, thousands of people die in New Jersey and New York without estate plans in place. Their families often end up in probate court arguing over what happens to their most valuable assets. These disputes can do long-lasting damage to family relationships and...
Blended families can be full of conflict, and stepparents and their stepchildren have notoriously uneasy relationships. You may worry about what will happen to your assets and your children after you’re gone if you leave their stepparent in charge of everything. There...