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Estate Planning for Beginners

Recent Posts in Estate Planning for Beginners Category

  • MAKE SURE YOUR BENEFICIARIES CAN DISCOVER YOUR LIFE INSURANCE POLICY

    If you have paid life insurance premiums for years, the last thing you want to happen is for the insurance company to receive a windfall after your death instead of paying out to your beneficiaries. However, if your beneficiaries do not know about the policy, they will not know to make a claim. For this reason, part of your estate plan should include some way of letting your beneficiaries know ...
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  • DESIGNATING DIFFERENT PEOPLE FOR DIFFERENT ROLES IN YOUR ESTATE PLAN

    As part of your estate plan, your New York City estate planning attorney will draw up a wide range of documents for you. As part of the process, you will need to designate people to act on your behalf. You might need to appoint an executor, a trustee, a general power of attorney, a healthcare prox and more. You do not need to designate the same person to act in every role. Speak with your attorney ...
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  • AN INSIDER'S GUIDE TO LIVING TRUSTS IN NEW YORK: PART 3 OF 3

    To fund your living trust, you need to transfer assets into your trust. You can transfer money and property into your trust by placing title to your bank account and title to your real property into the trust. You must specifically identify the property and accounts within your trust. In addition to properly funding your living trust , you need to appoint an individual or trust company to oversee ...
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  • AN INSIDER'S GUIDE TO LIVING TRUSTS IN NEW YORK: PART 2 OF 3

    There are many different reasons you may want to create a living trust, and your attorney may decide to supplement your will with a living trust. However, in most cases, a living trust does not replace the need for a will. Your attorney may decide that creating a living trust is essential to your overall estate planning needs. A living trust does not have to go through probate, and your living ...
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  • AN INSIDER'S GUIDE TO LIVING TRUSTS IN NEW YORK: PART 1 OF 3

    A living trust allows the person creating the trust to set aside money or property within the trust for the benefit of others by appointing a trustee to administer the trust and ensure the trust property is distributed to the beneficiaries. If you are the person creating a living trust, you are known as the grantor, owner or settlor of the living trust. A living trust is also known as a revocable ...
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  • ESTATE PLANNING FOR BEGINNERS: HOW TO GET STARTED (PART 3 OF 3)

    As you begin to consider your estate planning needs, you will likely have many questions and concerns. It’s important to make sure that you understand the basics of the estate planning process, so that you’re able to have the best plan possible. We’ve taken the time to answer more common estate planning questions in this article. Take a look at the following information, to learn more about estate ...
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  • ESTATE PLANNING FOR BEGINNERS: HOW TO GET STARTED (PART 2 OF 3)

    When beginning your estate planning , you may have a lot of questions about how the planning process works, and the decisions that you will have to make. We’ve outlined answers to common questions, as a way to help you feel more comfortable about your planning needs. Take a look at the following information, to learn more about estate planning. If you have any questions, or if you’d like to start ...
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  • ESTATE PLANNING FOR BEGINNERS: HOW TO GET STARTED (PART 1 OF 3)

    If you’re just beginning to think about your estate planning needs, you probably have a lot of questions and concerns. In fact, it may seem overwhelming having to plan for the future. If you’re looking to feel more comfortable by learning more about the planning process, take a look at the following information. If you have any additional questions, or if you’d like to begin discussing your estate ...
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