Growing older brings a variety of possible infirmities, and it is possible you or your spouse might need to go into a nursing home someday. While some people put aside enough money for future care, you realize you might exhaust your assets in long-term care costs....
Estate Planning
Why an estate plan is still necessary if you never have kids
Many people associate estate planning with providing for their children. However, the necessity of an estate plan extends beyond parenthood. Even if you never have children, establishing a comprehensive estate plan is an important step in ensuring your wishes come to...
What are some signs you need to update your will?
A will is a legal document that outlines how your assets and possessions will get distributed after you pass away. For most people, creating a will is the first step in the estate planning process. Life is ever-changing, and as a result, your will should reflect these...
What are the steps to funding a living trust?
Many estate planning tools can yield savings and other benefits based on the circumstances, such as living trusts. This trust type can take effect immediately, even while you are alive. Through this arrangement, you can put your assets and properties under a trust,...
Ensuring your chosen guardian doesn’t steal from your children
Choosing a guardian for your children is an important decision that ensures their well-being in the event of your passing. However, you need to consider the potential risks and take necessary precautions to prevent any possibility of the chosen guardian misusing or...
The importance of updating your estate plan during divorce
As a married couple, you and your spouse’s estate plans and financial affairs have likely become intertwined. When you file for divorce, those documents could potentially be overlooked in the confusion and emotional upheaval. After a divorce, be sure to review your...
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...
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...
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...