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There are many challenges that must be considered when you’re creating an estate plan. While many people think about their will as the best way to transfer assets to their loved ones, trusts are sometimes a better option. There are two primary categories of trusts –...
As you plan for retirement, Medicare benefits will likely be an important consideration. You can count on Medicare to cover most of your routine medical expenses after you retire, and you may have to budget for supplemental plans for prescription medication. However,...
If you only have a verbal will right now, you should know that it may not count for much if you pass away. Usually, New York law only allows written wills to be made legal. An oral will can be made and be carried out, but there are specific rules that apply to them....
You have to think about many different issues when you create a New York estate plan. You will need to create a list of debts and your property. You need to think about the needs of your family members and the relationships you have had with each of them. People often...
When you are working on your estate plan, one thing you need to consider is if you would like to establish a trust and will together. Some people prefer to think about trusts rather than wills, and in some cases, you may not need both. A living trust could,...
Many first-time home-buyers think that what they offer on a home will be what they have to pay. However, there are usually substantial closing costs the cover as well. People frequently need to leave a five to 10% buffer when making an offer on a property. Otherwise,...
Did you know that, over the next two decades, about $68 trillion is going to change hands? That’s one of the most recent estimates for how much money Baby Boomers are going to leave to their children. It’s a staggering amount of money and has been deemed the biggest...
You can probably think of a thousand excuses for why now isn't a good time to create a last will or estate plan. Maybe you want to grow your family, or perhaps you know that there will be big financial changes in the near future. Although there are always excuses, the...
The first step in the process of buying a New York home is having your purchase offer accepted by the seller. However, it will likely be several weeks or months before you become the owner of that property. Let's take a look at the various factors that will determine...
Death and taxes are two absolute certainties in life and the often coincide along with some potentially lingering debts when people pass on. New York’s probate process ensures estates are settled with debts paid and assets distributed in accordance with a will or...