A family member dies, and everyone knows that a will was signed. The decedent discussed it with relatives, named an executor, and may even have provided copies to family members or advisors. Yet when the time comes to begin probate, the original signed document cannot be located.
This situation...
A common estate planning mistake is assuming that a will controls everything a person owns at death. In many New York estates, that is not true. Retirement accounts, life insurance policies, annuities, payable-on-death accounts, transfer-on-death registrations, and jointly held accounts may pass outside the will by operation of contract, account form, or...
When someone is appointed to handle an estate, the Surrogate's Court gives that person legal authority to act on behalf of the estate. If there is a will, that person is usually called the executor. If there is no will, the person appointed by the court is...
When a loved one dies, beneficiaries often expect estate administration to move quickly and transparently. The reality on Long Island can be different. Probate and administration take time when there is East End real estate to sell, debts to resolve, tax issues to address, or family conflict to manage.
If you are enrolled in a Medicare Advantage plan but would like to make a change, you can likely take advantage of the Medicare Advantage Open Enrollment Period.
This Open Enrollment Period occurs each year between January 1 and March 31.
What Is Medicare vs. Medicare Advantage?A power of attorney is a powerful planning document that enables you (the principal) to give another person (the agent or attorney-in-fact) the power to act for you while you are alive.
Because it is often prepared in the context of estate planning, many believe it gives their...
It is tough to know when you should step in and help your parents with their finances. You may go back and forth about when to take over. Deciding whether your parents still have the cognitive ability to manage their money is a difficult call to make. A recent report reveals why...
So, you’re officially divorced. In starting this new chapter of life, you should update your estate planning documents as soon as possible. You may no longer be legally married, but divorce does not automatically remove your prior spouse from your will, trust, or beneficiary designations. Here are some items to consider updating:
November will mark National Family Caregivers Month. You may have a caregiver in your life to whom you wish to bestow your gratitude by designating them as an heir in your estate plan. Whether your caregiver is your own child — or a niece, nephew, grandchild, godchild, stepchild, or even a caregiver...
Doctors, nurses, and hospital staff work hard to care for their patients when they are sick or hurt. However, even when a procedure is done to save a patient’s life, a hospital cannot act without patient consent. If a patient cannot speak for themselves and express their wishes, the hospital relies on...
