When an estate plan isn't put together correctly, it can lead to legal battles, tax bills and other problems for New York residents. One of the biggest mistakes that people tend to make is failing to name a beneficiary to a retirement or other account. In the event...

The mention of trust funds may evoke thoughts of privileged children from wealthy families in the minds of New York residents, but trusts can be extremely useful estate planning tools even for those of more modest means. While the affluent do use trusts to reduce...

When New York residents neglect to draft an estate plan, they create a situation where others will be tasked with making important decisions on their behalf. Many people put off estate planning because contemplating end-of-life scenarios can be emotionally difficult,...

Despite the fact that people often know it is important to plan for the future, many adults in New York do not have wills, trusts or other estate documents in place. There are many reasons why people put off making decisions about their estates: They may not want to...

It can make sense in many cases for New York residents to use trusts, rather than other methods, to transfer wealth to younger generations. Among the advantages trusts might offer are asset protection, maintaining family control and tax planning. Dynasty trusts may be...