If you are ever asked to serve as an executor in New York, you should view this question as an indication the person asking you trusts you very much. Your job as executor will be to manage the property that person leaves behind after he or she dies. And while the probate process in New York can be somewhat daunting, you should understand that there are some new problems you might have to face that executors in the past rarely had to deal with. For identity thieves, stealing someone’s … [Read more...] about More to Worry About in Probate: Post-Death Identity Theft
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Three Things You Should Know About Long-term Care Insurance
Obtaining and maintaining long-term care insurance is an expensive undertaking, so be sure you gather as much information as possible before you commit to a plan. The following paragraphs contain three things that you should know about long-term care insurance. First, while purchasing this insurance is not right for everyone, you should know how your care will be paid for if you forgo purchasing insurance but wind up needing long-term care. If this occurs, you will be paying for your care out … [Read more...] about Three Things You Should Know About Long-term Care Insurance
Life Insurance and Estate Planning
Life insurance has many varieties of policies, and each variety has its pros and cons. This flexibility makes life insurance an ideal form of estate planning. Some of the different varieties and uses of life insurance are: 1) Term life insurance is a short-term policy, generally 5 to 10 years. Term life insurance offers a low monthly premium, although it does not accumulate a cash value, even though the premiums typically increase each year. 2) Whole life insurance has a death benefit for the … [Read more...] about Life Insurance and Estate Planning
Plan Carefully When Choosing an Estate Planning Lawyer
The first step in deciding to make an estate plan isn’t necessarily calling up the first lawyer you find on the Internet and asking him or her to help you create a plan. The attorney you select should be someone with whom you feel comfortable, especially when you consider that the estate planning process will often require you to think about some fairly personal issues. To find the attorney that best suits you, your needs, and your individual circumstances, you should develop a plan. Here’s what … [Read more...] about Plan Carefully When Choosing an Estate Planning Lawyer
Wills in New York: Words Are Not Enough
Estate planning attorneys commonly get asked questions about any number of topics. One of these topics involves wills and what people can do to give away their property after they die. Some people, for example, have elderly relatives who make verbal statements shortly before they die. These statements can sometimes detail the elderly person’s wishes about who should receive property. In general, these types of verbal statements are not enough to legally distribute property in the state of New … [Read more...] about Wills in New York: Words Are Not Enough
