On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Sep 28, 2020 | Estate Planning
While many people begin their estate planning journey with a will, a comprehensive estate plan may involve many different documents. What documents should you consider when creating your estate plan? Wills address all property solely in your name at your passing. The...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Sep 18, 2020 | Estate Planning
It can be uncomfortable to talk to a parent about what will happen when they are gone. However, if a parent becomes incapacitated or passes away before you have these discussions, you could be dealing with unanswered questions, a complicated legal process and...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Sep 17, 2020 | Estate Planning
One of the most common misconceptions about wills and estate planning is that you only need to think about it once you get to retirement age or older. Many people think that this process is only important when your close to the end of your life. However, having an...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Sep 16, 2020 | Estate Planning
As readers of this blog may remember, we have talked about digital assets in the past. However, that New York blog post discussed the more traditional digital assets and how we distribute and control them in an estate plan. On this post, rather than talking about how...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Aug 11, 2020 | Estate Planning
You may think that estate planning is something that you only do when you are old or want to protect a vast fortune. However, adults in New York and across the country can benefit from creating an estate plan regardless of their age or net worth. Create a will or...
On behalf of McMahon Law Firm, Attorneys and Counselors at Law | Aug 5, 2020 | Estate Planning
Family dynamics are often thrown into discord over money. In New York, parents understand that their estate plan usually contains the last message they will ever give to their children. When they leave unequal shares to their kids, that can fuel family squabbles....
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 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...
