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Estate Planning and Divorce

Divorce can cause a number of complications in many areas of your life. In addition to the emotional stress and economic hardship that may result from ending your marriage, you also need to consider what changes need to be made to your estate planning documents after your divorce is finalized.

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Creating a Trust for Children With Substance Abuse Issues

Having a child with a substance abuse disorder is heartbreaking. It can be overwhelming thinking of how to provide for them when you’re no longer around.

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Are Heirs Responsible for Their Loved-One’s Debts?

They say that the only sure things in life are death and taxes. “Debts” should probably be added to the list since those, and taxes must be paid when you die.

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Reviewing and Updating Your Will

Life is fluid, and we all experience many changes in our lives, some minor, some major. “Into the same river you cannot step twice” is how the Ancient Greeks viewed the ups and downs of life. With this in mind, if you’ve created a last will and testament, you need to review it periodically to take into account any changes your life has undergone. To do so annually is probably a good benchmark, but some changes may create conditions to revisit your will more quickly.

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Estate Planning and Dementia: What You Should Consider

Individuals who have cognitive impairment or dementia may face significant challenges when creating their will or estate plan. For example, in New York State, a testator is required to have the cognitive and mental capacity to execute or revoke a will.

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Second Marriage and Estate Planning

Establishing a well-detailed estate plan is crucial to plan for life’s uncertainties and to provide specific instructions about how your affairs and estate should be settled when you’re gone.

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What to Do First When a Loved One Dies

Although there’s no amount of planning or arranging that can truly prepare you for the death of a loved one, there are steps you can take now that will help. Sometimes, just knowing ahead of time what will be expected of you can make things more manageable. A key to this may be working with an estate planning attorney. It will likely seem overwhelming at first when you realize the multitude of tasks you’ll have to complete, but an empathetic and experienced attorney can act as your guide and partner during the entire process.

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Probate Terms to Know

When a person dies in New York State, probate is often required to settle the decedent's estate and final. During the probate proceedings, the executor or administrator will gather and evaluate the deceased person's assets, pay debts and taxes, and distribute the remaining assets to the rightful inheritors.

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Creating a Business Succession Plan

If you’re a business owner, partner, or founding shareholder, a succession plan is equally as important as an estate plan, such as a will or trust, and should be included in all planning for the future of you and your loved ones.

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Common Misconceptions About Probate in New York

The probate process can be a confusing situation. With so much information swirling around online, we are here to clear up the most common misconceptions about probate in New York.

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