Most people do not realize that probate and wills are not just for the rich. If you were to die tomorrow and do not have a will, then in most cases, the government will have no idea who the money should go to and how much should go to each of your kin. Ultimately, lawyers more »
When her son returns home after his Mom’s death, he finds more is waiting for him than just assets and debts. Not every last will includes the nightmarish overtones of Rosalind’s — but many do. That’s why talking to an experienced attorney is recommended. Creating a last will entails different ways to write a will. more »
When Tom Johnson of Washington D.C. was called in 2016 about his brother-in-law, Mark, Tom became intimately aware of the need for a living will. Mark, unconscious and lying in a New York hospital was unmarried and didn’t have a living will outlining either his wishes or giving power of attorney to a relative. “We more »
In addition to seemingly endless gift lists to satisfy, the holiday season presents many with the perplexing issue regarding service tipping. Consumer Reports magazine states in the December issue that gratuities, in general, rose by approximately $5.00 over the previous holiday season. In general, Consumer Reports found that the experts they surveyed recommended a one-week more »
Family dynamics play an interesting role in drafting an estate plan. Every so often I meet with clients who, for whatever reason, just don’t like a son-in-law or daughter-in-law, and want to figure a way to keep their son or daughter’s inheritance in the family in the event of a divorce, death, or other unexpected more »
You may be willing to trust your teenage grandchildren to house sit for you while you’re away for the weekend, but would you trust them to properly manage your entire bank account after you die? Paris and Nicky Hilton, heiresses to the Hilton Hotel fortune, are notorious for their party-girl ways. DUI charges and driving more »
Over my years of practice, I’ve seen an increase in the number of women looking to create an estate plan. Estate planning is important for women because they have a greater likelihood of ending up alone later in life. Women have a longer life expectancy than men and tend to marry older men often making more »
One of my clients is an avid stamp collector. He has decided that upon his death, his modest collection will go to his granddaughter who grew up learning about and loving his hobby during their summers together. Individuals pass more to their heirs than just real estate and money – a significant portion of wealth more »
Remember when grandma asked you to visit? Some grandchildren in Austria didn’t and Grandma went to extraordinary lengths to keep her family from getting her money. She shredded over $1 million USD right before she died. Not happy to stop at that, she cut up her bank books. According to Forbes, the shredded bits were more »
Planning for what happens after your death is very important. Many people understand how essential it is to create an estate plan, but fail to go far enough. Simply creating a do-it-yourself will, or even going to a lawyer to get a will written, is not necessarily going to be sufficient to protect your assets more »
After a loved one passes away, the personal representative (fiduciary) on behalf of the estate or trust is responsible for managing the estate and distributing the assets.When the decedent has a valid New York will or trust in place…
Under New York Law, a guardian is a person who has the authority to take care of your minor children if you are unable to as a result of a mental incapacity, illness, disability or you pass away. The legal guardian has the same authority and powers as a parent…
