When a person passes away without a will, it can leave his or her family worried about what to do next. The estate will need to go through probate, which is the court process to administer the estate. The estate may include money, personal property, real property and...
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Year: 2021
Being proactive with aging loved ones is key for the future
As New Yorkers and people across the nation are living longer and healthier lives, it is easy to forget about the importance of long-term care planning. Health concerns and challenges can arise with a shocking suddenness. Even if a person is alert, vibrant and active,...
An executor’s duties in New York probate
When a loved one dies with a will in New York, their estate must be probated. This can be a confusing time, especially if you are grieving your loss and have never gone through the probate process before. The situation may become even more confusing if you have been...
Avoid these common wealth preservation pitfalls
Maintaining your wealth requires holistic planning. Not only do you need to create a sound estate plan, but you also need to take into consideration any tax implications that may arise. This is especially true if you have a large estate, as failing to adequately...
Should I have a will or a trust?
If you want to distribute your assets among your loved ones when you pass away, you must create a will or a trust. Both of these estate planning tools will ensure that your assets and property passes down to those closest to you according to your wishes. They both...
Medicaid planning and trusts for long-term care
Over the past few decades, there has been a population boom of older Americans who need long-term care. Whether they live in an assisted-living community or a more intensive medical facility, these Americans and their families face enormous expenses. Many Americans...
Three ways to pass your home to your children
Many parents are interested in passing their family home to their children. Their home has many special memories and passing this on the next generation can be special. A clear estate plan can help a family pass along a home, vacation property, etc. to their children....
Planning ahead with long-term care options
As our parents age, we can find ourselves contemplating care options for them once they begin to develop health problems. An important part of estate planning is tackling the challenges of long-term care. Assisted living and medical treatments are expensive in New...
Getting around taxes on inherited IRAs
Planning ahead involves not only providing for yourself in retirement, but also taking care of your loved ones when you are no longer there. With so many changes in tax laws taking place in recent years, estate planning in New York and elsewhere is an involved process...
How can our law firm help with home care coordination?
Many Woodbury area residents understand how difficult it can be to have an older relative. Typically, older people require more time and resources, whether it be drives to appointments, meal preparation, housekeeping, or more skilled nursing help. Navigating the...