It's not uncommon for there to be a bit of confusion when it comes to the legalities associated with probates, wills and estate planning. It can be overwhelming, especially when you're either trying to deal with overload due to the massive amounts of information coming at you from a number of sources or if you can't find a straight answer to the simplest questions. You know it's problematic when efforts are being made to simplify the probate process to a more uniform national standard. A … [Read more...] about What is Probate in New York and is it Necessary?
The last thing many people would equate to intimacy is estate planning. Just ask anyone who’s ever had to face reality after a terminal illness or devastating accident, they will tell you that things become very personal faster than you can say power of attorney. This week, we shed the logistics and focus on the ties that bind and the intimacy of estate planning. Facing Mortality Most of us realized long before we began preparing our will that we wouldn’t live forever. Whether that brutal fact … [Read more...] about The Intimacy of Estate Planning
Most estate planning lawyers will tell you the one opening line they hear most often is, “I'm not even sure I need to have a will.” To that end, we explain that a will covers far more than one's finances. There's a lot at stake and ensuring your wishes are met and your loved ones are seen to in the event of your death is what a will is really about. A properly defined estate plan will legally protect and then distribute your property based on your wishes. If for no other reason, you should … [Read more...] about The Role of a Will in Your Estate Planning Efforts
Estate planning involves more than just the distribution of financial assets, and a lot of young people may not take that into consideration. The topic of health care has been in the news a lot during the last few years, and there was considerable debate recently concerning what life-extending procedures may or may not be allowed under proposed legislation. The fact is that each one of us has the ability to state our personal preferences concerning what medical procedures we would approve and of … [Read more...] about Young Adults And Estate Planning
The matter of estate planning is unique in a sense because it involves a process that few people ever participate in directly other than probate lawyers. For this reason delving into your DIY passions when it comes to will creation is probably not a good idea. Your will is going to have to pass through the process of probate, which makes it very difficult for the uninitiated to effectively draw up homemade wills because they have no experience dealing with the probate or surrogate court. Most … [Read more...] about Homemade Wills
Anyone who has been successful knows the importance of long term planning, and this process begins with identifying what you would like to accomplish in the future. Once you set those goals you work every day toward achieving them, and this goal setting has a very profound impact on the decisions that you make along the way. For instance, if you decide that you would like to retire early you may well make different choices throughout your life then you would if your plan was to retire at the … [Read more...] about Future Intentions Impact Ongoing Decisions
You hear a lot of talk about avoiding probate, and people who are first delving into the subject of estate planning invariably wonder what it is and why one would want to avoid it. Simply put, probate is the legal process of estate administration during which any claims against the estate are settled and the wishes of the deceased are carried out if they left a will. If they died intestate or without a will, the probate or surrogate court would oversee distribution of assets in accordance with … [Read more...] about Pay On Death Accounts For Probate Avoidance