Trusts Planning

If you have had a major falling out with a family member, you may want to legally disinherit them. This term simply means you leave them nothing in your will. Legally, they are not entitled to any asset or part of your estate. Of course, as with any legal action related to your estate, there...  read more

You may have heard of someone leaving one of their children or other relatives a dollar in their will. Why would they do that? Was it a joke? In many cases, leaving someone a token inheritance is not a joke. It’s actually a legal strategy that can help stop that person from contesting the will....  read more

NEW YORK – The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit, which shows that total household debt increased by $193 billion (1.4%) to $14.15 trillion in the fourth quarter of 2019. This marks the 22nd consecutive quarter with an increase, and the...  read more

Generally, when a person is writing a will, they talk to the person they plan on naming as their executor to let them know that such a responsibility is coming. This is, ideally, the best time to decline being named as executor. However, circumstances may lead to you being named executor of an estate without...  read more

When a person dies, their estate will go through the probate process. The main point of probate in New York is to examine the person’s will or other document to determine if it is valid and legally binding. If it is, the process can be quite short. If it’s not, however, or if there’s a...  read more

If you have a good amount of money or other assets, you likely want to make certain your heirs receive this inheritance and use it in a way that helps them get ahead in life. However, if you simply leave them your assets in a will, they can legally do whatever they want with the...  read more

One of the reasons why you may want to create a trust instead of a will is because wills can be easily contested. While the contesting party may not always get the result they want, contesting a will does leave your legitimate heirs stuck in court for quite some time. However, while a living trust...  read more

Creating a trust is a great way of managing your estate and making certain your heirs are protected. One of the most important steps in creating a trust is to select the trustee or trustees who will manage it. The trustee is in charge of managing the funds, making investments, paying any bills necessary, and...  read more

Many people find the idea of writing their will a little morbid. After all, it does mean acknowledging that you’re going to die someday, and that’s not a pleasant thought. But putting off writing your will isn’t a good idea, even though it does mean thinking about things you might otherwise not want to contemplate....  read more

Most people feel confident that their heirs are going to carry out their last wishes exactly as they have been laid out in their will. However, this is, unfortunately, not always the case. Wills can be challenged, and if you’ve had a major falling out with someone and removed them from the will, they’re likely...  read more