Because of the privacy and flexibility provided by trusts, many New Yorkers make them a central part of their estate planning strategies. By using trusts, people can help to refine their gifts to minors, create certain conditions for passing on property and give...

Wills can be effective estate planning tools for those who have few assets or don't have children. However, once a person becomes a parent, it can be a good idea to create a trust. The primary benefit is that it prevents a child from directly inheriting money when he...

People in New York who have a chronic illness or have a loved one who is chronically ill should have estate plans that include certain provisions that address health and aging complications. Over 130 million people in the United States are chronically ill, and by...

A comprehensive estate plan in New York might contain any number of specially-drafted instruments, including a will, trusts or powers of attorney. One planning tool that might help keep your heirs out of probate court is a transfer on death account. TOD accounts...