Guardianships

A guardianship may not only be a useful tool in many situations, but for some it may be the only option. A guardianship is an arrangement where the court appoints a person to make various decisions for another individual. The types of decisions the guardian may make, as well as the extent of the power...

Lifetime Spousal Trusts: To Have and To Hold Your Marital Assets

Frequently, married couples have the desire to bequeath all of their assets to each other upon their passing. However, there may be reasons for spouses to instead transfer assets to each other during their lifetimes. Specifically, they may want to consider transferring assets to each other through the use of trusts. There are a number...

Disqualifying an Estranged Spouse

First comes love, then comes marriage, then comes a legal inability to disinherit your spouse? It’s true – New York state law prohibits an individual from completely disinheriting their spouse even if they have a Last Will and Testament stating so. New York Estates, Powers and Trusts Law § 5-1.1-A gives a surviving spouse a...

Your Estate Plan Deserves Some R-E-S-P-E-C-T

What do Aretha Franklin and Prince have in common? Not only are they both high ranking members of the royal family of music, they both passed away without a Will. Unfortunately, celebrities are not immune to the intricacies of the legal systems governing their estates when they pass away. When any person, famous or not,...

Estate Administration: When There’s a Will (or Not) There’s a Way

When a loved one passes away, it is often a concern that the assets they own at the time of their death are now in a state of limbo. For property that is not jointly titled with a living individual, which does not have a named beneficiary, which does not transfer on death or for...

Using Pet Trusts to Plan for Man’s Best Friend

When considering your Estate Plan, you are making decisions regarding how you would like for your property to be disposed of after your passing. Of course, this includes items such as your home, car, jewelry, stamp collection and other various personalty you’ve gathered over the years. But what about your beloved pet? It is becoming...

What Happens to my Digital Assets When I Die?

According to the New York State Estates, Powers & Trusts Law (“EPTL”) Article 13-A, a digital asset is “an electronic record in which an individual has a right or interest.” Examples of digital assets include an email account, a Facebook page, a YouTube channel, a Twitter account, and many more. The growing use of the...

The Basics of Estate Planning

Any age is the right age to begin considering your Estate Plan. Moreover, even if you already have one in place, it is important to revisit your plan at major life events and ensure that it still conforms with your wishes. A basic Estate Plan includes the following documents: Last Will and Testament (or Revocable...