Trusts Planning

What to Do If Your Executor Stops Doing their Job

Tuesday, July 27th, 2021

Losing a loved one can be very hard, but the situation can be made even worse if their estate doesn’t pass through probate quickly and easily. Many people find that they can’t really get a sense of closure until probate is over. However, if the estate’s executor doesn’t seem to be doing their job, probate...  read more

Why It’s Important to Update Your Will

Sunday, May 30th, 2021

If you’ve written a will, you may feel like your estate is now protected. However, while that is true for your current situation, it’s not necessarily the case for the future. Your will needs to be updated regularly because your life, and your estate, is likely to change. Here are a few reasons why it’s...  read more

Should Married Couples Create Joint or Individual Trusts?

Friday, January 15th, 2021

Creating a trust is one way of ensuring that your heirs are taken care of and that at least some of your assets do not go through probate. Trusts also have some tax benefits and give you some control over how your heirs use their inheritance. If you are married, you and your spouse could...  read more

What Is a Spendthrift Trust?

Wednesday, July 15th, 2020

There are a number of different types of trust funds you can create to leave assets to your heirs. One of the more limited types of trusts is called a spendthrift trust. This type of trust does not give the beneficiary direct access to any of the money in the trust. Instead, the trust pays...  read more

Who Can You Disinherit?

Monday, June 15th, 2020

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

Why You May Want to Leave a Token Inheritance to Someone

Friday, May 29th, 2020

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

Household Debt Tops $14 Trillion as Mortgage Originations Reach Highest Volume Since 2005

Tuesday, March 17th, 2020

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

Can I Decline Serving as an Executor?

Sunday, March 15th, 2020

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

What is the Probate Process Like?

Sunday, March 1st, 2020

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

How to Leave Money to Your Heirs for College

Friday, January 31st, 2020

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