Some estate planning decisions become more complicated as we get older. Not necessarily because our wishes change, but because the circumstances surrounding those decisions do.
The people we depend on may be aging themselves. Financial responsibilities may become more difficult to Continue reading
After someone dies, attention often turns quickly to what happens to their property. Who receives the house? When will beneficiaries receive their inheritance? How long will everything take?
In New York, the answers depend on the estate and how the person’s assets are owned. Some Continue reading
An executor can have a difficult job even when an estate plan is well prepared. There are documents to locate, assets to identify, bills and expenses to address, deadlines to meet, and beneficiaries who understandably want to know what is happening.
Some of that work simply comes Continue reading
An inheritance is intended to benefit the person receiving it. It may provide financial security, preserve something meaningful within the family, or give a loved one opportunities they might not otherwise have.
Receiving an inheritance can also come with complications. A house may Continue reading
Emergencies rarely happen on a convenient schedule. A sudden illness, an unexpected accident, or an emergency hospitalization can leave families making important decisions with very little time to prepare. During those first few days, having estate planning documents in place is important. Continue reading
Estate planning documents often name several different individuals to carry out specific responsibilities. In some cases, the same person serves in multiple roles. In others, those responsibilities are divided among several trusted individuals.
An executor administers an estate after Continue reading
Estate planning documents are often discussed one at a time. A will directs what happens after death. A financial power of attorney authorizes someone to handle financial matters during your lifetime. A health care proxy addresses medical decisions. Each serves a different purpose, Continue reading
A parent lives in New York. One child is in North Carolina. Another is in Florida. Families like this are no longer unusual, but distance can add another layer of complexity when an aging parent begins to need more support.
Distance doesn’t weaken family relationships, but it can Continue reading
After an unexpected illness or the loss of a loved one, family members often find themselves searching for information they assumed would be easy to locate.
Where is the original will? Which bank accounts are still open? Is there a life insurance policy? Who is the financial advisor? Continue reading
Having one child can make certain estate planning decisions feel straightforward. There may be little question about who will inherit assets or who you trust to make important decisions.
At the same time, that one person may eventually be asked to take on a number of different responsibilities. Continue reading
