If you want to set up a trust, it is vital to go over all of the different options you have. The choices you make will impact your loved ones and may affect others as well, especially if you want to contribute to a charity, for example. If you have decided to...
Wills & Trusts
Is it time to review your estate plan?
Estate plans are not static pieces of legislation. As their purpose is to accurately reflect your life at any given point in it, you should ensure that it actually gets updated frequently. But how do you know when it is time to review your plan to see if you need to...
Why do siblings fight over inheritance?
One thing most people do not want to consider when creating their estate plan is whether or not it will cause rifts in the family. Unfortunately, estate plans and wills have very real power to rip a family apart. Thus, it is important to understand exactly why many of...
What are the two types of living trust?
Estate planning can be overwhelming due to the many options. Most Americans are familiar with the function of a will. However, far fewer know how powerful living trusts can be when it comes to estate planning. Living trusts are very similar to wills in some ways but...
What are the traits of a good executor?
Executors have a lot on their plate when it comes to managing an estate plan. For this reason among others, it is crucial for executors to have select traits that make them more suited for the job. But what are these traits? What exactly makes a good executor in the...
The value of a revocable trust in an estate plan
A revocable trust can be a powerful tool for your estate plan. There are many benefits you can take advantage of, from bypassing generations in your inheritance chain to safeguarding your business for your family. Including a revocable trust in your estate plan can...
Benefits of estate planning for young adults
Young adults often avoid an early start on estate planning for several reasons. They might think a will or making a retirement plan can wait until they are in their thirties or forties. In reality, early estate planning for young people has many benefits. Protecting...
What elements to include in a simple estate plan
There are advantages that come with having an estate plan in place, and you may find it especially worthwhile to create one once you go through a major life event, such as a wedding or the birth of your first child. Like many people looking to develop estate plans in...
When do estate tax returns become necessary in New York?
If you are approaching the estate planning process, there are a number of different topics that you need to take into consideration, such as finding the most practical type of estate plan and deciding how to divide your assets among beneficiaries. If you have...
3 events that spur people to write a will
If you do not have an estate plan yet, you are not alone. According to Gallup News, only 46% of adults have a will. Younger people are less likely to have one than older people. Only 20% of people age 18 to 29 years old and 36% of people 30 to 49 years old have a...
