Category: Last Will & Testament

Understanding the Different Types of Wills

In the basic sense of the term, a will is a document that is made up by a person, or several people, to spell out how final affairs should be taken care of once they have passed away. Each will must meet a set standard that is determined by the state in which a person lives. And if poorly crafted, the will may not be useful in a court of law, especially if contested.  To

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Reasons Why Having a Will is Important

A Last Will & Testament is a valuable document that your family will benefit from when you die or if you become incapacitated at some point. Your will can communicate how you wish your family to be taken care of, your assets to be managed/distributed, and even which charities will benefit from your long years of responsible planning. In navigating the complexities of estate planning in New York, it’s crucial to have a knowledgeable and

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Protect Your Assets: 6 Important Things to Remember When Writing a Will

Everyone knows the importance of writing a will to protect their assets after they pass on. Fewer people actually do anything about it. A survey conducted by Caring.com in 2017 found that 60% of U.S. adults have no will or another form of estate planning in place. Making a will is a smart idea no matter your age or current health situation, but it becomes vital when nearing the end of life. Think about the

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Wills, Trusts, & The Estate Planning Process in New York

Estate planning involves the preparation and strategic organization of your assets for their orderly distribution. It involves all your possessions, such as tangible assets, intellectual property, investments, automobiles, business interests, real estate properties, and more. The role of an estate planning lawyer is crucial in helping you minimize uncertainties related to estate management while maximizing the value retained for your heirs. This includes reducing potential taxes, legal fees, and other expenses that could diminish the

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Living Trust vs. Will: What’s the Difference? Which Is Right for You?

Facing the reality of death or incapacitation may be challenging, but it’s essential to have these conversations, especially if you have young children or a non-traditional family structure. Ensuring your wishes are respected and your loved ones are protected is where estate planning comes into play. Both a will and a living trust can help you manage your estate and medical concerns in case you’re no longer able to do so yourself. But how do

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10 Frequently Asked Questions about Setting Up a Will

For most of us, planning for what happens to our possessions after we leave this earth is not a top priority. At least this would be the impression you might take away from the fact that 6 in 10 American adults have never taken the time to create a will or living trust.  This is frustrating; even a little bit of forethought from us on what will happen to our assets will save our heirs

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What Is a Living Will and How Does It Work?

Wills are important tools that can help you ensure that your wishes are honored when you pass away. There are several types of wills that can be used for different purposes. Many people understand that wills are used to transfer assets to beneficiaries. However, in many cases, in addition to passing assets to loved ones, a will can have other, additional advantages. Speaking to an experienced Brooklyn wills attorney can help you understand these advantages.

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