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Do I need an estate plan if I have no assets?

Question: Someone told me to avoid probate, so I have added my two children as joint owners on my bank accounts or put them “in trust for” my children. Does this protect my assets from Medicaid too?

New York State’s Durable Power of Attorney is a document in which a person referred to as “the Principal” can designate another person or persons referred to as “Agents” to act on their behalf with respect to all business and financial matters.

Planning for the future can sometimes be difficult. Creating an estate plan can give you the peace of mind you need, while also making it easier for your loved ones to handle your affairs when you die.

Spring cleaning has me thinking I may need to update more than my window treatments. What changes should I be making to my estate plan?

I am an unmarried person and do not have any children. My parents died many years ago and I have no siblings. Who inherits my property if I die without a will?

I am the nominated Executor under my mother’s Will, which my sister is in the process of contesting. I understand that a Will contest may be a lengthy proceeding. Is there any way I can be appointed to act on behalf of the estate while that proceeding plays out?

In New York State, when a person turns eighteen, they are presumed to be legally competent to make decision for themselves. However, if a person is intellectually disabled or developmentally disabled, as defined by Article 17-A (“Article 17-A”) of the Surrogate’s Court Procedure Act, a parent or concerned relative can ask the Surrogate’s Court to appoint a guardian to assume the decision-making functions for that person.

My mother has been diagnosed with a terminal illness and has specific wishes with regard to end of life decisions. She executed a living will and a DNR during her last hospital stay; however, she is concerned that her wishes may not be followed. Is there any other document that would ensure her wishes are carried out?

The Tax Cuts and Jobs Act (the “Act”) increased the federal estate tax exclusion amount from $5 million to $10 million indexed for inflation for decedents dying in years 2018 to 2025. This amount is indexed for inflation back to 2011.