NY Estate Planning Pitfalls: Joint Accounts & Beneficiary Designations

Joint accounts and beneficiary designations are often used as convenient ways to manage financial affairs and ensure that assets are passed on to loved ones after death. However, these methods have several pitfalls that can cause problems for both the account holders and the intended beneficiaries. One of the biggest drawbacks of joint accounts is […]

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Estate Planning And Interstate Moves

If you find yourself making an interstate move, there will be plenty of logistics to tackle - purchasing or renting a new home, updating your driver’s license and car registration, getting your children settled in a new school, and finding new doctors, but do you also need to update your estate planning documents? In theory, […]

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How to Protect your Child’s Inheritance from Divorce in NY

While we may love our children’s spouses, the truth is that when planning our estates, the majority of us don’t want our sons-in-law and daughters-in-law to inherit from us.  This common sentiment combined with the unfortunate reality that a significant percentage of marriages in this country end up in divorce, means that everyone should engage […]

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Plan With Flexibility: NY Discretionary Trusts

Trusts are powerful and highly versatile estate planning tools.  They are very commonly established by individuals for the benefit of their surviving family members after their death.  They can be used to control assets and how, when, and to whom they are distributed.  There are living trusts and testamentary trusts as well as revocable and […]

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My Spouse Died & I Want to Sell Our Home - What are the Tax Ramifications?

A significant percentage of married couples in New York own their home jointly with their spouse, usually as tenants by the entirety. This means that when one of them passes away, the surviving spouse becomes the 100% owner of the home automatically.  It is also not uncommon for the surviving spouse to consider selling the […]

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Estate Planning for NY's Unmarried Partners

Estate Planning for Unmarried Partners Estate planning is important for married couples, but it is absolutely vital for couples who choose not to get married.  Unmarried partners do not have the same privileges and protections as a legally married spouse – without proper planning, they will be unable to participate in your end-of-life care and […]

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Ancient Document Exception for a New York Will

Probate is the process by which a will is validated by the surrogate’s court. Unfortunately, problems can arise when a will offered for probate many years after it was made. Witnesses can be very difficult to find so many years after a will is signed, and in many cases, they have predeceased the testator. Since […]

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Transferring your Co-op to a Living Trust

If you are considering an update to your estate plan or perhaps you are looking to engage in estate planning for the first time, you may be considering creating a Living Trust or a Revocable Trust. A Living Trust is a trust established and funded during your lifetime - it can serve a multitude of […]

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Different Types of Supplemental Needs Trust

A Supplemental Needs Trust (“SNT’) is a trust created for the benefit of a disabled individual to provide them with financial means without disrupting their eligibility for government benefits requiring limited resources and income like Medicaid and SSI.  There are essentially three types of supplemental needs trusts:  a first-party SNT, a third-party SNT, and a […]

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Minor Guardianships Under New York State Law

If you are a parent of a minor child, one of the most important parts of your estate plan will be the nomination of a guardian.  If you were to pass away without having named a guardian, or there is a disagreement over the nominated guardian, those interested in the care of your children will […]

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Attorney Advertising Disclaimer: The estate planning, probate, elder law or other New York legal information presented on this site should NOT be construed to be formal legal advice nor the formation of a lawyer or attorney client relationship. Using the advice provided on this site without consulting an attorney can have disastrous results. Prior results do not guarantee similar outcomes. Please contact a Queens estate planning attorney at one of our law firms located in New York City. This web site is not intended to solicit clients for matters outside of the State of NY, although we have relationships with attorneys and law firms in states throughout the United States. Free consultation applies to an initial phone consultation.
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