On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jul 25, 2020 | Trust & Probate Administration
A typical New York resident who is under the age of 70 has up to 160 digital accounts. Therefore, it is important to consider digital assets such as email accounts, website content or brokerage accounts when creating an estate plan. An individual may opt to...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jul 22, 2020 | Estate Planning
Estate planning in New York is always a challenge, but in these times, it’s even more important. That’s because during economic downturns, people are much more likely to sue an estate. Part of this is simply human nature; individuals who have lost money...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jul 20, 2020 | Estate Planning
Many people decide against creating a trust because of its upfront fees. Unlike wills, which you can draft for around $150, trusts often cost between $1,000 and $1,500 to set up. Yet, you may feel the investment is worthwhile because a trust will offer you privacy...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jul 17, 2020 | Trust & Probate Administration
Your loved ones may have an estate plan in place, but it’s not often they outline a plan for every penny. Even if they laid out generous designs for the family, failing to account for assets in the red could lead to hard times ahead. 73% of Americans will likely die...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jul 14, 2020 | Estate Planning
One challenge New York residents may face when they are creating an estate plan is that it could lead to family conflict. In particular, there may be conflict among adult children. This could be over what to do with property or because of poor communication between...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jul 11, 2020 | Care Planning, Estate Planning
Parents in New York and elsewhere have the right to name a guardian for their children as part of their estate plans. However, there are many issues that individuals should consider when it comes to determining who should raise their sons or daughters. For example, it...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jul 8, 2020 | Estate Planning
Patients in New York and throughout the country have a right to decide for themselves if they will undergo surgery or take a medication. However, those who are unconscious or not of sound mind may not be capable to making decisions about their medical treatment. With...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jul 6, 2020 | Care Planning
According to the Department of Health and Human Services (HHS), an American who is 65 or older has a 70% chance of eventually needing long-term care. In many cases, New York residents and others will use Medicaid to help defray the cost of going to a nursing home or...
