Articles Posted in Estate Planning

Nobody wants to be stuck in a situation in which they are incapacitated and unable to manage their financial affairs. That is why you must execute a power of attorney. There are many considerations when drafting your power of attorney, one being when you want it to go into effect. In other words, whether you…

Any parent of a special-needs child knows how useful New York State benefits such as Medicaid, Supplemental Security Income (SSI), or housing assistance could be in contributing to treatment and care costs. Parents can qualify for these benefits by verifying that their annual income is below a certain amount and passing a stringent assets test. …

The concept of guardianship has recently been thrust into the national spotlight due to high-profile cases like that of Britney Spears. However, it’s important to note that many Americans, including New Yorkers, are subject to guardianship proceedings, particularly adults with dementia.  While guardianship may be a critical legal tool designed to protect those who are…

Navigating through the emotion that accompanies a dementia diagnosis can be deeply challenging, not just for the individual, but for their entire circle of loved ones. A wave of emotions, including fear, sadness, and uncertainty about the future, may sweep over you. In the journey that lies ahead, ensuring the well-being of yourself and those…

Your last will and testament is a cornerstone of your complete estate plan. A well-executed will prevents unnecessary heartache for your loved ones after you’re gone. But what if situations change and you need to revoke your will and write a new one? Common reasons for revoking a will include major life events like marriage,…

Planning your estate with a good attorney is an important step towards protecting your assets, your wishes, and the people that matter the most to you. However, as any estate planning attorney can tell you, there is no cookie-cutter estate plan; everybody’s needs are different, and thus require different solutions. There are a variety of…

As experienced estate planning attorneys, we cannot overstress the importance of advance medical directives. These comprehensive legal documents protect your healthcare wishes when you are unable to express them yourself. In this article, we will provide a brief overview of advance medical directives, and explain the consequences of failing to have such safeguards in place.…

Let’s be honest—nobody likes to discuss what happens to their bodies after they die. However, legally, something must happen to our bodies after we die, typically burial or cremation. So, you should make sure your body is laid to rest on your own terms. Making a plan for what happens to your body after you…

Being named as the executor of an estate can make an already challenging period of grief even more stressful. One of the executor’s duties is to pay the outstanding debts of the estate using the estate’s funds. This is because an individual’s assets and liabilities do not simply vanish after their passing, rather, their assets…

A power of attorney is a crucial part of your estate plan. We have previously expounded on the importance of a medical power of attorney. Today, we will discuss why you may want to revoke a power of attorney and the steps for doing so. What is a Power of Attorney? A power of attorney…