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July 7, 2020


What You Need to Know to Help You Save on Taxes in 2020

Whether it was part of your New Year’s resolutions, or you just want to avoid paying too much in taxes this year, there are ways to save on your income tax for 2020. Not only is it good practice to implement these ideas right away (so you are not scrambling just before filing next year), […]

What Happens If You Don’t Designate a Beneficiary?

In addition to creating a will, you must designate beneficiaries to receive any assets that you owned. In the state of New York, the intestacy laws will apply if you do not designate a beneficiary. It is important that you name your beneficiaries, because without anyone named specifically, the state will dictate how your assets […]

What Are the Powers and Duties of a Trustee?

A trustee is a party who has a fiduciary obligation to any property held by the trust. While the trust holds the legal title to all property and assets within it, the trustee is responsible for following the instructions left in the trust documents, including ensuring the best interests of the beneficiaries are considered. The […]

What You Need to Know If You Are Named Executor of a Will or Trustee of an Estate

Whether you have been named the executor of a will or a trustee of an estate, you have just been appointed a major role. This rule comes with strict guidelines and expectations that you must follow as a fiduciary duty. Failing to follow these duties could not only result in you being removed as the […]

What Does Guardianship of an Elderly Parent Mean?

Elderly guardianship occurs when the court appoints one individual to care for an elderly party who can no longer care for themselves. The guardian will then assume duties and responsibilities for that elderly person. The individual appointed does not always have to be a family member, but usually a family member is appointed for this […]

What Is the Difference between Elder Law and Estate Planning?

Most people use the terms “estate planning” and “elder law” interchangeably. If you find yourself curious whether they are the same or not, you are not alone. Estate planning deals mostly with helping plan for disability, death, and taxes. The purpose of estate planning is to make sure loved ones receive their inheritance and are […]

Do Bank Accounts with Beneficiaries Have to Go through Probate?

Probate is a normal process that occurs after someone passes away, and the courts verify that their assets are distributed to the proper parties. Some assets, such as insurance policies and retirement accounts, do not have to go through probate. That is because these assets usually have a designated beneficiary who is named at the […]

What Are the Duties of a Personal Representative of a Will?

A personal representative of your will, also known as the executor, is the party responsible for carrying out your final wishes, evaluating your estate, filing proper documents, and distributing assets to beneficiaries. It is a role that you should not fill with the first person that comes to mind. Instead, you must carefully think about […]

How Do I Prepare for Estate Planning?

Getting ready for estate planning requires you to not only gather the right documents, but also to create a list of what you want, to determine your expectations, and to be ready to answer important questions during the estate planning process. To ensure you are ready at your estate planning appointment with your attorney, ask […]

What Is the Average Cost for Estate Planning?

A common question asked is how much estate planning will cost. Unfortunately, this is not easily answered by any attorney. Numerous factors play into the cost. Not only do attorneys have set rates and hourly fees that vary, but then there are those factors that can increase the complexity of an estate plan and cost […]