Celebrities offer do’s and don’ts of estate planning

Many of the estate planning stories we end up reading about are regarding celebrities. In many cases, this is because celebrities have large estates by virtue of successful careers in the entertainment industry. Wealthy celebrities might also have a large circle of friends and associates -- many of whom might be expecting a piece of the estate for themselves. Some celebrities handle this better than others. Some Read More

Trustee allegedly steals $18,000 from sale of house in estate

One of the most important considerations that a person going through the estate planning process can make is the naming of a trustee of their estate. There are several options available to New Yorkers who are working on this process. It may be that someone is most comfortable having a family member named as the trustee; others prefer someone outside the family entirely to perform trust administration duties. Read More

Estate planning in New York affects the future of one’s assets

With spring around the corner, people usually are thinking of warm weather and growing plants -- things that remind them of the renewal of life. Death is the last thing people typically want to ponder at this time of year, or really any time of the year in New York. However, failure to engage in estate planning means that a person will not be able to dictate how his or her assets are passed down in the future Read More

Estate planning protects one’s valuable assets in New York

People typically are focused in their efforts to obtain more money or more possessions in order to have a good quality of life in New York. However, they often neglect to think beyond their own lives and pay little attention to what will happen to these valuable assets once they die. This is particularly true for young people, who naturally feel invincible and don't think they'll have to worry about death for several Read More

New York estate planning involves developing a will or trust

People typically don't like to hear the words "too late," as this usually signifies that he or she has missed something desirable. Although putting together a will is hardly regarded as something desirable to most families, who prefer to think about less-morbid topics, the results are highly sought-after when a New York resident ends up dying unexpectedly. Understanding laws related to estate planning may help a Read More

Estate planning protects one’s assets, family in New York

People make several mistakes in life; after all, they are only human. However, some mistakes may be more costly than others, and some might have more wide-ranging effects than others do. One mistake that families often make is failing to participate in estate planning in New York. Not doing so can ultimately cause one's valuable assets and property to end up distributed by the state, according to the laws of Read More

Estate planning important for all families in New York

When a man and a woman have a baby in New York, putting together a will often is the last thing they want to do. After all, they are consumed with other urgent life demands, or they simply don't want to be bothered with an activity that seems so morbid. The complexity of the process also may deter some individuals from wanting to engage in estate planning -- especially those with blended families. However, wills Read More

Will execution in New York involves updating beneficiary names

An individual finally got the courage one day and took time to put a will together. The task may have seemed daunting, requiring the person to think about a topic that he or she really would have preferred to avoid: death. However, in the end, the person's beneficiaries will be in the best position to have access to his or her assets in the event of the person's death in New York. The problem, however, is that Read More

Estate planning in New York protects assets when one dies

When people hear the term " estate planning," they sometimes immediately tune it out, thinking that this activity is only necessary for the wealthy. However, people of all income levels in New York can benefit from developing a solid estate plan. Having one in place helps to guarantee that one's assets will end up in the proper hands upon his or her passing. People naturally steer clear of talking about estate Read More

Estate planning in New York involves making a list of assets

With 2014 in full swing in New York, a person may be working hard to get his or her life in order by trying to keep his or her New Year's resolutions. This may include actually working out, becoming more committed to one's spouse or trying to kick a bad spending habit. Individuals would be wise to add estate planning to such a list, as engaging in this critical task helps them to get their finances in order and be Read More