With regards to estate planning, many think that it is all about the future and later in life decisions. While it is important to take action to draft documents that detail what should happen at your death or in the event of incapacitation, it is vital for individuals in New York and elsewhere to consider steps they can take in their lifetime to benefit their financial future. This is often where trusts can be beneficial.
A valid will can be an important part of a White Plains resident's estate plan, but it is an unfortunate fact that many people mistakenly believe that their wills meet all of the state's technical requirements. When a will lacks certain provisions or legal requirements, it may be deemed invalid and may be set aside when a person passes on. It is important that individuals seek individual legal counsel to ensure that their wills are up-to-date and legally sound to avoid having them disregarded after their deaths.
A person can have a great deal on his or her mind when getting a divorce. Given this, there are a lot of things a person who has just gone through a divorce may be tempted to put off for awhile. However, there are some things it is critical to not procrastinate on following a divorce. One of these is estate planning. Estate planning missteps can have major ramifications for a divorcing person and his or her family. Today we'll go over two estate planning mistakes it is critical for individuals to avoid following a divorce.