So you’ve taken the time to create an estate plan, including a last will and testament, and one day you wake up to realize that you have misplaced the document. Relax. The situation is more common than you might realize, and a lot of people come to an estate planning lawyer because they believe they’ve lost their will. Even if you inadvertently misplaced the document or destroyed it, it isn’t the end of the world. Further, if you have a relative who has died and you can’t locate that will, … [Read more...] about Help! I’ve Lost my Will!
Estate Planning
What is Estate and Trust Litigation?
Some people seek out the advice of an estate planning attorney not because they need help creating their own plan, but because they are interested in litigation. Litigation is simply a fancy word for filing a lawsuit. Going to court is usually not an easy decision to make, but it is the appropriate one in many circumstances. Estate and trust litigation can arise for any number of reasons. While litigation isn’t always possible, there are some situations in which litigation is more common than … [Read more...] about What is Estate and Trust Litigation?
Your Intellectual Property and Your Estate Plan
It’s becoming more and more common for estate planning attorneys to help clients develop plans that incorporate one or more type of intellectual property. Intellectual property, or IP, is a type of property that doesn’t necessarily exist in the physical world. Federal law creates different types of intellectual property rights, and each type comes with specific requirements. Even though not everyone owns intellectual property, it’s possible that you could have some intellectual property rights … [Read more...] about Your Intellectual Property and Your Estate Plan
Your Inter Vivos Trust Needs Regular Care
An inter vivos trust, commonly referred to as a living trust or a revocable living trust, is an estate planning tool almost everyone can use. The great benefit about an inter vivos trust is that it allows you to largely skip the probate process. Probate can take up a lot of time and money as your estate representative makes sure that all the steps required under New York law are met. To avoid this time and expense, people create an inter vivos trust to transfer property outside of probate after … [Read more...] about Your Inter Vivos Trust Needs Regular Care
Digital Wills in New York: 3 Issues
One common question that many people have is how they can make sure their digital information or material they have stored on their computer will not get lost after they are gone. Some people, for example, say that they have written their own digital will and want to use that as their last will and testament. Even though information technology, personal computers, and the Internet have changed the way we live our daily lives, the law is not exactly up-to-date when it comes to the role these … [Read more...] about Digital Wills in New York: 3 Issues
Should You Include Pet Insurance as a Part of Your Estate Plan?
Whether you are a new pet owner or have been an animal lover for years, using pet insurance as a way to protect your pet’s interest after you are gone is an excellent option that you may want to consider as you create a pet plan. Pet insurance plans operate very similarly to human health care plans in that they afford protection against the possibility that your pet might require serious, and costly, veterinary care. As with other insurance products, balancing the needs of your pet against … [Read more...] about Should You Include Pet Insurance as a Part of Your Estate Plan?
Plan Ahead for Real Threats of Alzheimer’s [Infographic]
More than 5 million Americans are suffering from Alzheimer’s disease. Alzheimer’s is the sixth leading cause of death in the United States. Of the top 10 causes of death Alzheimer’s is the only one that cannot be cured or prevented. One out of every eight senior citizens is living with Alzheimer’s disease. The costs associated with Alzheimer’s care totaled around $200 billion in 2012. Someone in America contracts Alzheimer’s disease every 68 seconds. Approximately 45% of people 85 years of age … [Read more...] about Plan Ahead for Real Threats of Alzheimer’s [Infographic]
Making the Most Out of Your Trust: The Schedule of Assets
A trust schedule of assets is a useful tool regardless of the type of trust you are creating. Anyone beginning the estate planning process in New York can expect to create one or more trusts as part of that process. The individual trusts you create will afford you specific benefits depending on the type you choose, but all of them require similar steps. The trust schedule of assets is a tool you can use to help you ensure you go about the trust creation process effectively. Here is what you … [Read more...] about Making the Most Out of Your Trust: The Schedule of Assets
Why Lawyers Talk About Simple, Complex, and Living Trusts in New York
A lot of people come to an estate planning lawyer in the Rochester, New York area and want to, for example, to have their lawyer help them create a living trust. While there is nothing wrong with wanting a living trust, or any other type of trust for that matter, you need to first know what different trusts do before you can decide which one type is good for you. Proper estate planning in New York means that you have to match your individual needs with the appropriate estate planning tool. As … [Read more...] about Why Lawyers Talk About Simple, Complex, and Living Trusts in New York
Why You Should Probably Skip Co-Executors in New York
A few weeks ago we blogged about the death of actor James Gandolfini and how he had several interesting clauses in his will, including the naming of co-executors of his estate. In general, it’s not a good idea to name more than one executor to manage your estate after you die. While this isn’t a guarantee that your estate will run into difficulty, it can be a practical hurdle that causes delays, increased costs, and even runs the risk of causing family disputes. Here’s why having co-executors in … [Read more...] about Why You Should Probably Skip Co-Executors in New York
