In an unpredictable world, having a living will could provide peace of mind and ensure the fulfillment of your healthcare wishes. This crucial document outlines your medical preferences in case of incapacity and inability to communicate. Understanding the importance...
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Estate Planning
Disinheriting a beneficiary: When and why it happens
Disinheriting someone is a sensitive topic that people might find uncomfortable to discuss. However, understanding the reasons and methods for disinheriting a beneficiary could be crucial in estate planning. Understanding when and why this happens is essential. Why...
3 practical tips for effective estate planning
Estate planning can be a pretty unpleasant and daunting activity. According to the available data, 65% of Americans think so, too. After all, who would want to broach the subject of one's death? But if this is why you've been putting off planning for the inevitable,...
How Alzheimer’s can become an issue in estate planning
If an estate plan isn’t carefully created, it can be subjected to legal challenges after the testator has passed away. These challenges can take time to resolve, leaving heirs and beneficiaries waiting for what is rightfully theirs, and the litigation involved can...
Special considerations for firearms in estate planning
Estate planning in New York always demands careful consideration, and this is particularly true when firearms are involved. Legal intricacies exist that require you to adhere to specific regulations. If you fail to comply, your beneficiaries could face complications....
3 considerations for special needs trusts
Individuals with special needs children face unique estate planning challenges. It is essential to ensure that your child's future is secure and that they will continue to receive the care and support they need, even after you are gone. There are several...
How can foreign nationals structure their real estate purchases?
The United States is the land of the free, and rightfully so. The country has no specific restrictions on real estate ownership for foreign nationals. If you are from a foreign country and are interested in purchasing property in New York, you should structure your...
What is a fiduciary’s role in the administration of an estate?
When a person dies, they leave behind all their things, and the amalgamation of all their assets, liabilities and debt is their estate. An estate is not a living or thinking thing. It will not organically manage itself and transfer itself to your surviving next of...
What are the qualities of an estate executor?
Naming an executor is often part of drafting a will. If you have a person in mind, you can fill the role with little to no trouble. Still, there is no assurance that they can perform as an executor properly. Typically, an executor's responsibilities require immense...
What happens if I die with massive student loan debt?
Student loan debt has been in the news for years. And, for New Yorkers, we have some of the highest student loan debt burden in the country at nearly $40,000 per borrower, on average. When you are planning your estate, you likely wonder what will happen if you die...