One of the most complicated parts of life is actually deciding how to best pass your assets on after your death. You worked hard to earn what you have, so it’s only natural to want to preserve as much of that from the government’s grasp as possible. For many people,...
Beneficiary designations are official selections on financial accounts that indicate to whom the company should pay out benefits when an employee passes away. For instance, you may list your spouse as your beneficiary on your life insurance policy so that they get the...
It might be easy for many in New York to assume that the most important people involved in the administration of an estate are the beneficiaries. Yet in actuality, a strong case might be made that it is the executor who plays the most important role. After all, it...
Many New Yorkers believe they do not need to engage in any estate planning. Are you one of them? Maybe you trust your family members to wrap up the last of your affairs peacefully. Maybe you already set up beneficiaries on the accounts that matter most to you. You may...
Creating a trust can be incredibly helpful, whether someone wants to gain peace of mind with the knowledge that their estate will be taken care of after they pass away or they want to ensure that those they love have assets that will help them tremendously in the...
New York City residents may be reminded time and time again through advertisements, media and word of mouth exactly how important it is to see their estate planning while they still can. This emphasis may prompt the question of why estate planning is so important...
A power of attorney is a person you appoint to make health care decisions on your behalf. This might be necessary after a prolonged, life-threatening illness or if you’ve been involved in a serious accident and can no longer make decisions on your own. Because...
As you work through the estate planning process in New York, the potential for discord to arise amongst your beneficiaries will no doubt come to mind. The last thing that you want is to see your estate’s administration cause a rift between those that you love. Being...
If you execute a will in New York, your executor will be responsible for distributing your property and wrapping up your estate. This is a big job. There are many factors to consider when choosing a person for this important role. An article in Forbes illustrates the...
Having worked so hard throughout your life to accumulate the assets that will comprise your estate, one might assume that you would want to do everything that you can in order to ensure that you decide who receives them. Yet if you have not yet completed a will, then...