Crafting an estate plan in New York can be difficult if one is married and the spouse does not want to participate in the planning process. However, steps can still be taken to protect beneficiaries. Beyond convincing the partner with numbers and outcomes of insufficient planning, heirs can still benefit from an accurate accounting of assets and a more limited plan governing personal property.
Including an ethical will in an estate plan
While an ethical will is not an actual binding legal document, it serves an important and meaningful purpose. New York residents can use an ethical will to pass on certain values that they hold dear.
What is medical neglect?
Medical neglect is a term often connected with the lack of proper medical care for a child, but it can also apply to the mishandling of such care for the elderly. Ironically, help for the medical needs of a child must come from parents, while later in life it is often the children who must step in and see improvements made for the healthcare of their elderly parent.
Blended families and estate planning
Blended families are increasingly common in New York. They can result in considerations to take into account during the estate planning process. It is important for people to update existing plans and designated beneficiaries to make certain that their children will be taken care of if they pass away.
Undocumented immigrants can inherit assets
Many New Yorkers have relatives or in-laws who are undocumented immigrants. When people are creating their estate plan, they may have questions about transferring assets to family members or friends who do not have authorization to live and work in the United States. While it is possible for an undocumented immigrant to own real estate, there may be difficulties transferring assets to someone who does not have a Social Security number.
The facts about the early onset of Alzheimer's
While there are certain medically related causes for memory loss, such as thyroid, kidney, brain or liver disorders, other symptoms might point to AD, or Alzheimer's disease. Memory loss itself may be inconsistent; a person may remember the name of a pet one day and forget it the next. In addition to memory issues, there are several other behaviors that may signal the onset of AD.
Uncomplicating your estate plan
While many New Yorkers understand the importance of having an estate plan in place long before it is needed, the process can be intimidating. This often encourages people to delay until a major event such as a health condition or serious injury causes them to become focused on the future. Trying to work out an effective estate plan at the wrong time can make things overly complicated, and this may cause problems down the road.
