You sometimes receive advice from people that have good intentions, but they have an incomplete understanding of the subject at hand. When you blindly believe what they say, you can make mistakes that yield negative consequences. This is quite common in the estate planning realm. There are those that suggest simple solutions that may not […]
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Five Things You Should Know About Probate
Probate is the legal process of “proving up” a Will in the state of New York. If you have never looked into the subject, you may assume that the executor that is named in a will can distribute assets to the inheritors without any government supervision. In fact, this is not the case at all. […]
Are You Prepared for Your Twilight Years?
Everyone knows that you have to state your final wishes regarding the way you want your assets to be distributed when you are planning your estate. That facet is important, but a properly constructed plan should include another component. Once you are old enough to collect Social Security, your life expectancy is over 80 years. […]
Follow These Steps to Put an Estate Plan in Place
Year after year, surveys show that most American adults do not have an estate plan. One survey asked unprepared respondents if they thought that estate planning was important, and over 60 percent of them said yes. Why do they fail to act when they know that they should? The most common reason is a simple […]
Manhattan Long-Term Care Costs Increased Significantly in 2021
As an elder law firm, we pay close attention to the state of long-term care costs because most seniors will need paid living assistance eventually. Medicare does not pay for the custodial care that in-home caregivers and nursing homes provide, so this is not the financial solution. Genworth Financial is a company that sells financial […]
Estate Planning Mistakes Can Damage Your Legacy
We sometimes speak with people that have been negatively impacted by the estate planning mistakes of their deceased loved ones. These situations are disturbing because they could have been easily avoided. In an effort to spread awareness, we are going to share a few of these commonly made estate planning errors in this post. Automatic […]
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