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Will and Trusts

Recent Posts in Will and Trusts Category

  • ESTATE PLANNING PUZZLES

    People who create their own estate plans often make the mistake of thinking that they only need to use one legal instrument and that it will take care of everything. This is usually a Revocable Living Trust . While a Living Trust is a great estate planning tool, it is probably not the only thing you need. Estate planning is more like putting a puzzle together to find the right fit between various ...
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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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  • DOES MY REVOCABLE LIVING TRUST REPLACE MY WILL?

    Yes, but no. When you have a fully funded revocable living trust , your final asset distribution is in your trust; and, technically, if you have all of your assets funded and no minor children, you don’t need a will. In this case, your trust is called a “will substitute.” However, it is prudent to execute a pour-over-will, which is used to distribute any assets intentionally or inadvertently left ...
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  • YOU LIKELY NEED A LIVING TRUST AND A LIVING WILL

    If you’re thinking about the estate planning tools that you want to utilize, you’ll likely consider the use of a living trust or a living will. It’s important to understand that these documents are very different and are used for different reasons. While not everyone may choose to create a living trust, most people choose the use of a living will. Take a look at the following information, to ...
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  • WHAT IF EVERYTHING YOU THOUGHT YOU KNEW ABOUT WILLS, TRUSTS, ESTATE PLANNING AND MEDICAID WAS DEAD WRONG?

    JOIN US FOR A FREE WORKSHOP THIS WEEKEND TO LEARN THE FOLLOWING: Elder Law and Medicaid Planning Medicaid needs arise when you least expect them. Americans are living longer than before. At the turn of the 20th century, life expectancy was about 47 years. In the 21st Century, life expectancy has doubled. As a result, we face more challenges and transitions in our lives than those who came before ...
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  • LET YOUR CHILDREN KNOW YOUR INTENTIONS AND KEEP PEACE IN THE FAMILY

    It is common for families not to talk about such things as what they will inherit when mom and dad is gone. This type of conversation can be uncomfortable for parents, and make children feel as if they are doing something wrong for even thinking about such things. As a result the subject is often swept under the rug until the time comes that there is no choice but to talk about it. This can lead ...
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  • Revocable Living Trusts Can Improve Efficiency

    Efficiency is the name of the game when you are engaged in estate planning, and when you choose to execute a will as your instrument of transfer you may be choosing an inefficient route. A will has to pass through the legal process of probate, and this is when the probate or surrogate court supervises the administration of your estate. Probate is not a bad thing in many cases because some estates ...
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