Question: My husband and I have been talking about getting our estate planning documents in order. We have a modest estate and three sons ages 2, 5 and 7. What questions should we be thinking about when we see an attorney for a Last Will & Testament? Answer: As parents of young children, there are …
Naming Guardians for Minors in your Last Will & Testament Read More »
Q: Since COVID-19 started, I have been concerned that I have no estate planning documents in place. What documents should I have? What factors do I need to consider? A: If COVID-19 has taught us anything, it is that life can change in an instant. As the country strives to re-open and create a new …
In New York, when a person dies with a Will owning assets in his or her sole name, the Will must be probated in Surrogate’s Court in order for the nominated executor to be officially appointed and to have legal authority to collect and distribute the decedent’s assets. To the surprise of many clients, the …
Q: My loved one passed away and someone needs to clean out her home, who is in charge of that? A: Losing someone you care for is incredibly difficult. Going through their belongings can be one of the most difficult tasks to be accomplished after their death. Assuming this individual lived alone and rented the …
Congratulations! You graduated from high school and are (fingers crossed) heading off to college in the fall. In preparation, you are shopping for school supplies, bedding, a new wardrobe, and researching the best classes to take. What you’re likely not thinking about is ensuring you have the proper estate planning documents in place before heading …
For parents of minor children, under 18 years of age, there are important considerations you should be discussing with respect to your Last Will & Testament. Minor children do not have the ability to collect the funds of an estate or be their own decision-maker. This is why the estate planning documents of the parents should provide …
Question: My son who is disabled and collects SSI has an existing Special Needs Trust. My parents would like to give him a gift, can I deposit the money into that trust? Answer: That depends. Special Needs Trusts, also know as Supplemental Needs Trusts (SNT) are trusts that protect a disabled individuals own income and …
Q: My brother passed away with significant credit card debt, as the executor and one of the beneficiaries his estate am I responsible to pay these bills? A: As executor of your brother’s estate you are responsible to pay the debts out of the assets of his estate. You are not personally liable for …
Question: I do not have a Will or advance directives but I am not able to meet with my lawyer at this time due to Covid19. I feel, more than ever, that it is important that I have these documents in place. What happens if I get sick or pass away and I do not …
Incapacity and death are usually topics that one attempts to push off to a future date or sweep under the rug. We rationalize – “I am young” or “I am still handling my affairs” or “I will worry about it later”. It is not until we are faced with a lifechanging event that propel us …
Importance of Advanced Directives in Light of COVID -19 Read More »
