Loneliness and isolation are exceedingly common in older Americans. In fact, according to the Centers for Disease Control and Prevention, as many as 25% of those over the age of 65 are chronically lonely. Loneliness can be extremely dangerous, of course, as it often...
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Estate Planning
The benefits of supplemental needs trusts
If you worry about the well-being and future of a family member struggling with a disability, it is essential to understand how setting up a trust could help them. For example, you could look at supplemental needs trusts and some of the perks that can come with this...
What is per stripes versus per capita estate distribution?
When creating an estate plan, decedents choose who receives their assets when they die. These beneficiaries can be an individual or a group of people. When people leave their estates to a group, they must decide how the benefits get divided if one of those...
What are possible gaps in your estate plans?
Estate plans can cover a wide variety of matters, including writing a will, establishing a power of attorney and creating an advance medical directive. Given all the activities involved in estate planning, it is easy to neglect or fail to implement certain parts of...
Is there a way to pass an inheritance outside of probate?
Formulating an effective estate plan may involve utilizing fiduciary tools to help your family after your death. The more diverse your plan, the higher the likelihood that some of your assets may bypass probate. While probate itself is not bad, it is time-consuming...
What is a living will?
Your estate plan can protect your family after you are gone by distributing your assets in the manner you see fit. Living wills are components of estate plans that protect you while you are still alive. Because they play such an important role, you must create a...
The Basics of Estate Planning
For many people, the term estate planning refers to a somewhat vague concept that deals with individuals who have great wealth. In reality, though, estate planning benefits nearly all families and refers to the precise legal administration of a person's assets in life...
Tips for preventing family disputes during estate planning
Putting together your estate plan can help you protect your interests and make your wishes known regarding your assets. But many people have yet to take this important life step. According to a survey conducted by Caring.com, only 4 out of 10 people in the U.S. have...
How can you avoid common estate planning mistakes?
Regardless of your age or financial status, you must have a solid, legally binding estate plan in place. According to Kiplinger, it is equally important to avoid certain estate planning mistakes when making decisions. Keep in mind, your estate plan not only protects...
What if I am party to the will of someone outside of New York?
As you are keenly aware, there is no more worldly location nor important hub of travel and commerce than the State of New York. Not everyone who conducts significant business or forms lasting relationships in the Empire State remains here. By definition, New York is a...