Some New York residents may assume that once they have created an estate plan, their work planning for the future of their assets and their family is done. Even if you do not specifically think this, it can be easy to postpone reviewing and updating your estate plan....
Camillus, New York, Estate Law Blog
Talking to your elderly parents about estate planning
While estate planning should be a consideration for everyone regardless of age, health or wealth, many people simply choose to ignore it until the last minute. Unfortunately, not taking the time to properly develop a comprehensive estate plan can lead to family...
What to know about online wills
Traditionally, wills in New York involved writing a physical document and signing it in the presence of witnesses. In today's age of technology, many people are opting to write their will online. But, is an online will legally binding, or do you need to print it out...
How your estate plan can differ from your parents’ plan
People often consider an estate plan to be something only their parents have - something we don't need until we're retiring or ill. However, estate plans are critical for adults of all ages and all stages of life. That said, the chances are good that your plan will...
What happens when parents with minor children die intestate?
The importance of having a will cannot be stressed enough. You want to make the decisions regarding guardianship of your children, what happens with your assets and who will serve as executor and trustee. Without a will, these issues may topple like a row of dominoes....
Everyone needs a last will and testament in their estate plan
Many people think the only individuals who need a last will and testament are those with significant wealth, but this is simply flawed thinking. An estate plan need not be extensive or elaborate to be valid and applicable. Any individual with clear assets or even...
Why it is important young parents have a will in place
You and your spouse prided yourselves in planning most details when it came to having children. Your meticulous planning included proper diet, health and exercising during the pregnancy, preparing and painting your children’s rooms, child-proofing the home and making...
Things to avoid putting in your will
A person’s last will and testament is the most common part of an estate plan. Some people view it as the sum total of estate planning. While vital to your estate, wills are used to name beneficiaries for money and specific assets and designate a guardian for minor...
Do you need a pour-over will if you have a trust?
When you created your trust, you might not have transferred all your assets into its ownership. Yet, as you review it, you may have concerns about what will happen to the assets you left out of it once you die. Failing to account for these in some way could cause them...
Estate planning affected by tax reforms
In 2017, a wide-sweeping tax reform was enacted that had an impact on many aspects of the pre-existing tax laws. Residents of New York may have realized that estate planning was also impacted during the change. The stress of estate planning under these new tax...