| Read Time: 3 minutes | Estate Planning

Long Island Estate Planning Mastery

Everyone knows they should plan for what happens to their property when they die. Yet, only some know how or even the options, resulting in many people failing to create comprehensive estate plans. Mastering effective and efficient estate planning is a skill that takes years to develop, but this guide, which you can use as an estate planning checklist,...

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| Read Time: 4 minutes | Estate Planning

Can a Life Estate Deed Be Contested?

A life estate deed in New York is an estate planning tool that allows the current owner, the grantor, to designate a beneficiary, known as a grantee, who will inherit the property when the grantor dies. Upon the grantor’s death, the property transfers to the grantee named in the life estate deed and doesn’t have to go through probate....

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| Read Time: 4 minutes | Estate Planning

Who May Serve As Administrator of a Decedent’s Estate?

When a loved one dies intestate (without a will), the procedures surrounding the distribution of their estate can be opaque and confusing. In New York, intestate succession laws govern how the estate must be distributed, and the Surrogate Court’s procedural laws dictate who may serve as administrator of a decedent’s estate. These laws are relatively rigid and can leave...

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| Read Time: 4 minutes | Estate Planning

Life Estate vs. Irrevocable Trust: What Is the Difference?

Preserving our assets for future generations can be a difficult task. There is a large array of estate planning tools at our disposal, and choosing the right ones for your needs requires careful thought and consideration. This dynamic is particularly true if we wish to protect our assets from the rising threat of nursing home costs, Medicaid costs, and...

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| Read Time: 5 minutes | Estate Planning

The Legal Documents Every LGBTQ Older Adult Needs

Estate planning is critical for everyone, whether you’re married, single, straight, or LGBTQ. Marriage equality became the law of the land in 2015, with the U.S. Supreme Court decision in Obergefell v. Hodges. However, because of historical and ongoing discrimination, those in the LGBTQ community who are aging often rely on partners or caregivers with whom they have no...

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| Read Time: 4 minutes | Estate Planning

Common Estate Planning Mistakes to Avoid

While many people know the value of estate planning, only one in three Americans has a will. For most people, the number one reason for not having an estate plan is that they simply haven’t gotten around to it yet. Neglecting to plan for the future can have unexpected and undesirable consequences for your family. An estate plan can...

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| Read Time: 4 minutes | Estate Planning

Questions to Ask an Estate Planning Attorney

Estate planning encompasses a wide range of things you can do to prepare for retirement, disability, or death. With a comprehensive estate plan, you can grow older knowing that your family will be cared for after your death.  Memorializing your plan means your family can receive what you wish them to inherit without fighting through probate. You can know...

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| Read Time: 3 minutes | Estate Planning

When to Hire an Estate Planning Attorney

Estate planning is the process of determining how you will provide for your loved ones after your death. When you sit down with your estate planning lawyer, they will ask about your assets and thoughts on how you want to distribute them. They will also help you plan for when you are incapacitated and unable to explain your wishes....

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| Read Time: 4 minutes | Estate Planning

Estate Planning Question: What Is a Power of Appointment in Estate Planning?

Creating an estate plan often involves a certain amount of looking into the future. Estate planners often wish they could give their clients a crystal ball to help them predict their family’s future emotional and financial situations when they pass away. After all, your lawyer could help you create a will or trust today, and you could live for...

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| Read Time: 4 minutes | Estate Planning

Transfer on Death Designations: Advantages and Disadvantages

No one likes to think about their eventual death, but planning ahead can smooth the way for your family. Most people seek to limit the burden and expense imposed on their loved ones after they die. While a will and trust often provide the best way to achieve this goal, you can pass some assets more easily with transfer...

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