Estate planning sounds complicated, but at its core it is simply a plan for who is in charge and who receives what if you become disabled or pass away. For Long Island families, that plan has to work within New York’s specific rules and the Surrogate’s Courts that handle estates. In this...

Starting an estate plan can be overwhelming, and you probably have many questions. You are not alone. Below are eight questions people often ask about last wills and testaments as they begin to think about estate planning.

1. Aren’t Wills Only for Wealthy People?

This...

According to the 2023 Wills and Estate Planning Survey by Caring.com, only 34 percent of Americans have an estate plan.

The primary reasons respondents gave for not participating in estate planning are:

Procrastination Believing they need more assets Not...

In late 2022, the federal government passed legislation known as the SECURE 2.0 Act. Provisions in this bill have made it easier for people to fund certain annuities that can delay taxes on their retirement funds until the age of 85.

First, What Is an Annuity?

According to WealthCounsel, over a third of Americans have experienced or witnessed familial conflict when someone dies without an estate plan. While most people believe having an estate plan is important, only a third have a plan in place, per Caring.com’s 2023 Wills Survey.

While most adults...

Adults 65 and older constitute the fasting-growing age demographic in the United States. When it comes to elder care, this expanding population is facing a scarcity in people equipped to support them as they get older.

One estimate predicts a shortage of 151,000 paid direct care workers and 3.8...

Using reverse mortgages, adults 62 and older may draw upon home equity to support their needs and remain in their homes.

Many older adults with reverse mortgages have a Home Equity Conversion Mortgage (HECM). The Federal Housing Administration insures HECMs, and the U.S. Department of Housing and...

Estate planning is an important consideration for all couples. However, for LGBTQ+ couples (or former couples), it may be more important than they realize to review their circumstances and see whether they have an estate plan that accurately reflects their wishes.

In 2015, the U.S. Supreme Court ruled...

Most older adults want to remain in their homes and communities as they age rather than move into assisted living facilities or nursing homes.

For those who wish to maintain their independence and continue living at home as they grow older, taking certain steps to protect their physical, mental,...

When individuals cannot manage their finances, courts can appoint guardians. Financial guardianship is for those who need help handling money.

Depending on the jurisdiction, financial guardianship may also be called guardianship of the estate or conservatorship.

In cases where individuals need help with personal and financial...