Mistake 1: Never giving it any thought. A lot of people don't have any kind of estate plan because they assume that they either don't need one or that they don't have enough property for an estate plan to be cost effective. Even if this is true, your property isn't the only issue your estate plan covers. It also encompasses your medical care should you get sick or injured, something everyone may one day face. Mistake 2: Doing it yourself. While some self-help aids and DIY materials are … [Read more...] about 4 Estate Planning Mistakes To Avoid
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Executors Removed From Heiress’s Estate
The co-executors of Huguette Clark's $400 million estate have recently been removed by the New York Surrogate's Court after allegations arose claiming the two men had committed tax fraud in their handling of the estate. Manhattan Surrogate's Court Surrogate Kristen Booth Glen removed the two men and left the managing of the estate to attorneys working for the Office of The Public Administrator of New York County, whom she had previously appointed as a third estate administrator. The … [Read more...] about Executors Removed From Heiress’s Estate
3 Reasons Why Women Need An Estate Plan
As a recent article in Forbes points out, everyone can benefit from creating a good estate plan, but women may be in a greater need than men. If you're a woman and haven't begun your estate planning efforts yet, there are several reasons you should consider starting soon. Women live longer. The lifespan of the average woman is about 5.3 years longer than a man's. Further, women have a higher tendency to marry men who are older than they are, meaning there is a good chance that your … [Read more...] about 3 Reasons Why Women Need An Estate Plan
3 Facts About New York Health Care Proxies
In New York you can create a health care proxy that allows you to appoint someone else to make medical decisions if you ever lose your ability to do so. The person you appoint becomes your health care agent, and has the legal right to make sure your doctors and health care providers do what you want them to. Fact 1: You can make one whenever you wish. As long as you are 18 and mentally capable of making decisions, you can create a health care proxy whenever you wish. Of course, you also … [Read more...] about 3 Facts About New York Health Care Proxies
Millionaire Heiress’s Executors In Hot Water Over Alleged Tax Fraud
The drama surrounding the estate of millionaire heiress Hugette Clark continues to unfold as now come allegations of fraud on the part of the estate executors. The New York County Office of the Public Administrator recently alleged that the two estate administrators, attorney Wallace “Wally” Bock and accountant Irving Kamsler, named as executors by Ms. Clark, have committed tax fraud in their representation of Ms. Clark and her estate. The allegations claim that the two administrators failed in … [Read more...] about Millionaire Heiress’s Executors In Hot Water Over Alleged Tax Fraud
