As a parent, you are proud to have raised a smart and well-rounded son or daughter. Now that your child's high school graduation is on the horizon, you are probably busy finding the right college or university. Your teen probably has some work to do prior to moving...
What is a living trust?
The vast majority of Americans understand the concept of wills and know why they are important. However, particularly if you have many assets, wills are not the only tools available to you. Many Americans choose to place some of their assets in living trusts. Living...
Choosing the right trustee for your estate
Estate planning is difficult but necessary. To make sure your estate gets the treatment it deserves after your passing, you should record in detail your final wishes and appoint a trustee to carry out your last will. Your trustee should be healthy The person you...
Can an estate executor manipulate the estate owner?
Estate plans cover a lot of ground. After all, one estate plan needs to cover every single one of a person's assets, what they want to do with said assets, who their beneficiaries are, how they want their body handled, and much, much more. Unfortunately, while most...
What are some signs of a good executor?
Writing your will and thinking about probate can leave you wondering who you should choose for an executor. This person is responsible for helping fulfill your wishes after death as well as paying off important debts. While you may know many people and feel close to...
Do you need to update a will?
After creating an estate plan, you may think that you do not need to look at these documents again. However, you should review your estate plan regularly to make sure it still reflects your current circumstances. You may need to reexamine an estate plan for practical...
What do you know about choosing an estate executor?
You have a lot of documents to draft and complete while tending to your estate, but you have a lot of other decisions to make, too. Do you know whom you want to serve as your executor? CNBC explains the role of executor and qualities to look for. Get insight into...
At what age may I start creating an estate plan?
An estate plan is a tool that you may create and update at any age. If you have young children or an elderly parent, you may begin thinking about who would care for them in the event of your unexpected death. With the right legal documents in place, you may designate...
Planning for the potential of estate taxes
Past posts on this blog touched upon the fact that New York residents fact the potential of both state and federal estate taxes. Knowing this might dishearten those engaged in the estate planning process, with them assuming that there is nothing they can do to avoid...
How should you prepare an estate plan for a special needs child?
Every family has unique estate planning needs and yours is no different. If you are the parent of a special needs child, you have to consider his or her needs when drawing your estate plan. According to Fidelity, special needs children may remain dependent on others...
