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As a parent, keeping your child safe and secure is one of the top priorities. Naming a guardian to care for the child in the event both parents die should be part of every parent's estate planning process. Considering someone else to care for your child is never easy,...
Many experts recommend starting your estate plan early in life, typically around the time you start thinking about marriage or children. This makes it easy to update your estate documents over the years as your asset profile changes and develops. You might therefore...
As people in New York become more involved in the estate planning process, they tend to quickly realize that a number of opportunities exist for them to preserve assets for future generations. Most, however, seem to accept that they cannot avoid one expense: estate...
A power of attorney gives another person, your agent, the ability to act on your behalf if you become incapable of doing so. An agent has the authority to decide your finances, manage your estate and control your healthcare, so you should have a complete understanding...
As an estate plan creator, you need to have an executor in place. This is one of the most - if not the absolute most - crucial figures in your entire estate plan. To that end, you may automatically want to assign one of your closest family members to the spot. But is...
An elderly parent's dementia diagnosis can profoundly impact an entire family. Estate planning must balance long-term care needs with a parent's desire to leave an inheritance to family members. These are some essential details to consider. Disease progression...
When you got divorced, your life changed in many different ways. Because of these changes, your estate plan may not reflect your current wishes. According to Gallup, only 46% of Americans have a will, but if you fall into this group, you should take time to revise...
When you die without a will in New York, the responsibility of distributing your assets falls on the state. Having a will helps ensure that you maintain control over what happens to your assets after you die. While a will is an integral part of your estate plan, there...
When you first set up your estate plan, it can take a lot of time and effort. When you finish the initial set-up, you likely feel relieved that the bulk of the work has come to an end. But an estate plan is not a "set and forget" project. Over the years, you will...
How old are you? Are you young enough to decide to make an estate plan or old enough to make updates or changes? No matter your age, there are certain items you should have in your estate plan to cover any eventuality. Here are three documents to add to your estate...
