Aside from assets, the divorce process also divides liabilities between parties. Ideally, each party can move on after the divorce. So, what can you do if a debt collector comes knocking on your door for your former spouse's debt? Unfortunately, divorce might not...
Year: 2023
Encouraging your parents to start estate planning
Discussing estate planning with your parents can be a sensitive and delicate topic. However, having this conversation is necessary to ensure that you know their wishes and that they properly manage their financial affairs. Here are some ideas about approaching and...
What happens if I die without a will in New York?
When an individual passes on without a will, it is called dying intestate. It means the law comes into play when determining what happens to the estate left behind by the deceased. The estate's distribution could also depend on the surviving family members and their...
Protecting your will against contestation
As someone who worked hard their entire life to accumulate their estate, you naturally want it distributed according to your wishes. You may want to ensure your loved ones are cared for if you ever become incapacitated. A person contesting your will can put your...
3 consequences of a poorly planned will
A will has a profound impact on the stability of someone's family and their legacy. Decades after someone dies, the inheritance they left for their beneficiaries may still have an effect on the people they loved most. Therefore, it is essential for those with loved...
Gray divorces continue their growth
Once considered taboo, divorce came to prominence in the 1970s, with attitudes changing about ending marriages. At first, marital dissolutions were largely reserved for thirty and forty-something couples. Several years ago, the divorce dynamic added a new demographic....
Can parental alienation affect child custody?
When you decided to divorce your spouse, you may have never wanted to see or speak with them again. Because the two of you share children, cutting your ex-spouse out of your life is not entirely possible. After all, for the benefit of your children, you must make...
How can an estate plan reduce someone’s tax risks?
Those thinking about their future and their property in New York often decide they want to create an estate plan or update their existing end-of-life documents. Estate planning gives someone control over what happens to their assets when they die and can allow them to...
Is your spouse trying to hide assets?
Property division is one of the most crucial components of any divorce. Ideally, spouses will come to an agreement early on in the process in order for all parties to walk away with a fair settlement. Sometimes, couples may have signed a prenuptial agreement that...
How can you protect your estate from creditors?
When it comes to estate planning, many tools are available to help you protect your assets and ensure that they pass on to your beneficiaries. One of the most popular estate planning tools is a trust. Not only can a trust be used to simplify the estate planning...