Changing A Revocable Trust?
As the name implies, revocable trusts can be modified fairly easily, and that’s a big reason why they are such useful estate planning tools: as life takes twists and turns, revocable trusts can be readily…
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Preventing Exploitation: Plan Ahead!
It’s the scenario we all shudder just to imagine: suddenly, an elderly loved one doesn’t seem to be as sharp as they used to be. Next, they have a new best friend we’ve never met,…
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What Is An Administrator Bond?
When an individual dies without an estate plan, the local probate court appoints someone, usually a relative, to settle the deceased’s affairs. This person is referred to as an administrator. Since the duties of the…
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What Do Trustees Do?
With trusts becoming increasingly popular for both care and estate planning, more relations and friends will find themselves being asked to serve as trustees. So what exactly does a trustee do? For one thing, a…
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Personal Property Memorandum?
During estate planning, intentions for major assets, like money and real estate, are set using a will and or trust, and these documents are legally binding. It’s a wise idea to also create a personal…
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The Best Estate Plan: A Will And A Trust
A will is an essential legal tool for detailing how you want your assets to be distributed after death. Importantly, through a will, you also name a guardian for minor children. It’s wise to go…
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Equal Love, Unequal Inheritance?
Though it’s customary to divide assets equally among children, there is no law saying that parents must do so. In fact, parents do not have to leave anything to their children. Still, when making a…
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Avoid Complications: Joint Accounts?
Estate planning should simplify life for your loved ones, not complicate it. Many people believe that adding an adult child or other heir as a “joint owner” on a bank account is the simplest way…
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Probate Proceeding In New York?
In New York State, the affairs of the deceased are settled through probate proceedings which take place in the county Surrogate’s Court. When a will has been made, it is “probated,” through the Surrogate’s Court….
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