A contested will can result in a costly and complicated probate process. Your heirs could lose a good portion of their inheritance if your will is contested. The process of fighting over assets could also cause a breakdown in family relationships, leaving loved ones in a bad situation. You do not want your legacy to be a history of family fighting and lost assets, so you should strongly consider getting appropriate help from an experienced attorney to reduce or eliminate the chances that a will … [Read more...]
Florida Woman’s DIY Will Proves Problematic
We recently learned of a story out of Florida that highlights the potential dangers involved with DIY estate planning documents. As with any legal process, you need the advice and guidance of an experienced estate planning lawyer anytime you want to create, or modify, any piece of an estate plan. While do-it-yourself products and educational guides might be sufficient to help you create a legally valid tool, that doesn't mean the tool you create will meet your desires, or be an effective estate … [Read more...]
What Does Your Last Will and Testament Cover?
A lot of people in the Rochester, New York area visit an estate planning attorney because they want to make a last will and testament. A will, as these documents are most commonly referred to, is an essential estate planning tool. It’s also something that is relatively limited. Wills are not sufficient to address every estate planning need you have, but they do address some very specific issues. Here is what you need to know about what your will covers.Personal Property Under a Last Will and … [Read more...]
Testamentary Bequest in Rochester: 4 Types
A testamentary bequest is a gift you leave through your last will and testament. Most people use their wills to leave inheritances to their children, other family members, or to charities or causes they support.However, deciding what you want to give is a little more complicated than you might realize. There are four main types of testamentary bequests you can leave. Deciding on which type to leave is up to you, but you should talk to your estate planning lawyer about the effect each type … [Read more...]
Remembering JFK
Today marks the 50th Anniversary of the assassination of President John F. Kennedy.Do you remember what you were doing when you heard the news that our President had been shot? … [Read more...]
How To Revive a Will in New York: Commonly Asked Questions
Question 1. What is a will revival?When people create a last will and testament, they have to meet specific requirements as dictated by the law. As long as you meet these requirements, a court will accept your will as a valid expression of your last wishes.In some situations, people who make a will later decide to change the document. This is fairly common, and as long as your new will meets the same requirements as your old will, you can change your will whenever you like. When people … [Read more...]
Wills and Trusts in Rochester NY: Why Pour-Over Wills and Living Trusts Go So Well Together
Even though no two estate plans are identical, most contemporary plans rely on key parts, such as pour-over wills and revocable living trusts. If you aren’t familiar with wills and trusts in Rochester NY, these two terms might not make a lot of sense to you. However, with just a little background information you will quickly understand why these two types of tools are so helpful. Here’s what you need to know about pour-over wills and revocable living trusts.Avoiding ProbateBeginning in … [Read more...]
Help! I’ve Lost my Will!
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...]
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...]
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...]
