Privacy is important, especially in today’s world. Learn how estate planning can enhance or reduce your privacy. Read on to find out more. Basics of Estate Planning: Privacy and Estate Planning … [Read more...]
Estate Planning and Divorce
On their own, divorces and estate planning efforts are uncomfortable; when they’re combined, it takes on an entirely new meaning. Both of these events symbolize endings, after all. While estate planning helps prepare you and your family for the ultimate end, divorces were never supposed to be part of a family dynamic. No one marries with the goal of divorcing. Toss money and other assets into the mix, and well, it can quickly lead to the worst in human nature: pride, anger, grief. When Estate … [Read more...]
Will and Living Will: What is the difference?
With names that sound so similar, you might think these two documents are basically the same thing. But while both can be an essential part of your estate plan, the two are used for very different purposes. A Will is a legal document that you use to specify what will happen to your belongings after you die. With your Will, you appoint an Executor who will act on behalf of your estate during the probate process, ensuring that your final bills are paid and your property is distributed in … [Read more...]
Planning a Trust for Your Pet
Did you know that our pets grieve? If you're like us, anytime we lose one of our family members who just so happens to not be of the human species, we grieve hard. As loyal as they are to us, it's of little surprise that they too could have the shared capacity for grief. A new study reveals that the grief pets feel may be different, of varying depths and often quite obvious. More of us are concerned about what happens to them after we're gone and fortunately, there are a few ways to protect … [Read more...]
Do You Need a Living Trust?
Many clients are confused about the role a living trust can play in their estate planning efforts. A trust is created so that assets or property can be moved to the trustee who’s named in the living trust. Many don’t like the idea of relinquishing ownership of their assets, but the benefits are worth consideration for many of those people. It’s not that you’re losing control of your property or assets, it’s still yours. You’re just covering the legal bases in case you become incapacitated or die … [Read more...]
The Intimacy of Estate Planning
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...]
Considering a DIY Will? Read Our Free Report First
A lot of people automatically assume that they should use a last will when they are planning ahead for the future. Because expressing your final wishes can seem like a relatively simple and straightforward matter you may think that you can construct your own will. In fact, there are a number of websites out there that make a business out of selling this notion to the public. They will provide you with a download or a worksheet for a fee. You fill in the blanks and you will ultimately have … [Read more...]
Power of Attorney and Guardianship: Differentiating the Two
Did you know that a survey from 2011 showed most seniors and family members had put off estate planning because they were overwhelmed with the various legal terms? It’s human nature; we tend to avoid those things we don’t quite understand. Proof of that was revealed recently when my sweet husband kept “forgetting” to pick up baking powder at the grocery store. When he finally owned up to it and said he’d found baking powder and baking soda, instead of a quick text to me, he just opted to … [Read more...]
Have Questions About Estate Planning?
If you are one of our readers you invariably have an interest in Long Island estate planning information. We make every effort to provide a steady stream of relevant content here on our blog, and we have also prepared a number of different reports that are available to members of the community free of charge. They delve into each specialty one by one, but we also have a comprehensive report on estate planning as a whole. This report will answer many of your questions about wills, trusts, … [Read more...]
The Role of a Will in Your Estate Planning Efforts
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...]
