Do you have questions about funding a trust in New York and how soon it can be done? During this difficult time, we will always be available to discuss your estate planning needs and prepare any new documents that you require. We will help you make sure that your estate planning documents carry out your healthcare […]
Why do I need to do a Pour-Over Will if I do a Living Trust in New York? Your estate planning attorney may have recommended that you do a revocable living trust as the key document in your estate plan, rather than a Will. A revocable living trust, if done correctly, will allow your estate […]
If you have set up a New York Living Trust, you are probably seeking to avoid probate, as well as name someone to manage your affairs in the event you become incapacitated. After you have set up your Living Trust, it’s important that you take a few follow-up steps so that everything will proceed smoothly […]
One of the major benefits of setting up a living trust is to avoid the New York probate process. Probate is what happens when a person dies owning property in his or her name. Upon death, a relative will take that person’s Will to court (or start an intestacy proceeding if the person died without […]
Life insurance is not entirely “tax-free.” While death benefit proceeds are income-tax-free, they are not estate-tax-free unless the beneficiary is a spouse. Life insurance can be an essential component of estate plans for same-sex couples as it is often an effective way to provide liquidity to satisfy any estate taxes due as a result of […]
SNTs are legal tools used to help disabled people keep more of their income or assets without losing their public benefits. SNTs were originally invented to allow parents of children with developmental disabilities to provide for them after they grow up without making them ineligible for public benefits (like SSI and Medicaid). Ordinarily, if a […]
If someone has appointed you trustee of a trust that is a vote of confidence in you, but it is also a lot of responsibility. Below is a list of your main responsibilities: Fiduciary Duties – you are held to a very high standard in a fiduciary role in relation to the beneficiaries or remainder […]
Yes, A trust can be contested in a special proceeding. If you or a family member need assistance with living trusts call me at (716) 542-5444.
Yes, a will becomes a matter of public record during the probate process, and a copy can be obtained upon request to the Surrogate’s Court. A living trust is a private document that is not subject to public scrutiny. However, a “pour-over” will becomes a matter of public record when it is submitted for probate, […]
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