Writing a will makes it easier to control where your assets go after you die. If you pass before you have a chance to write a will, you have died intestate. State law determines who receives a home, car or other items that are left in your estate. Your spouse will...
Why should young parents write a will?
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Feb 11, 2021 | Estate Planning
Nobody in New York wants to think about dying and leaving their children without their parents. Unfortunately, it can happen, and if the parents didn't plan ahead, they have no control over who ends up raising their children. No matter how young you are, you're never...
When should you update your estate plan?
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Jan 14, 2021 | blog, Estate Planning
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....
Talking to your elderly parents about estate planning
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Dec 24, 2020 | 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
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Dec 18, 2020 | Estate Planning
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
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Dec 9, 2020 | Estate Planning
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?
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Nov 24, 2020 | Estate Planning
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
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Nov 24, 2020 | blog, Estate Planning
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
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Nov 23, 2020 | Estate Planning
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
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Nov 18, 2020 | Estate Planning
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...
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