Many people think that owning property in joint tenancy means they don’t have to create a will or estate plan. Why bother with a will when all the property is going to your joint tenancy partner anyway? In fact (some people may ask) why not do away with the need for a...
There are a number of mistakes that an estate planning and probate attorney will see over and over again over the course of their career. Many of these mistakes seem small, but can have a huge negative impact on your family after your death. More often than not these...
In an ideal world elderly parents and their adult children always get along, and when those parents pass away their children quietly and respectfully follow their wishes regarding the distribution of their estate. Unfortunately, we don’t always live in an ideal world,...
Have you ever wondered just how little you could get away with in your last will and testament? Aletta Stager of Brooklyn, NY holds the distinction of having executed one of the shortest wills on record—a mere 2 lines long! “Nov. 29, 1895. I give to my cousin, Nettie...
A woman today often has to wear many hats: daughter, wife, mother, employee, boss, caregiver, family CFO, etc. Women are unique contributors both within their families and in society at large, often taking care not only of young children but of elderly parents as...
An interesting article in this week’s Time Magazine online addresses some of the weaknesses in the Durable Power of Attorney (POA) document—especially as regards the elderly—and how New York State is addressing these weaknesses. If New York’s experience with the...
When clients come into our office to design their estate plans one of their biggest concerns is how to dispose of their tangible personal property. Sometimes clients spend more time determining how to dispose of these personal mementos than they do the big ticket...
Schoolchildren aren’t the only ones putting their noses back to the grindstone after this warm summer and long Labor Day weekend; Congress is also returning to work, and among the many issues they will be discussing is that of the estate tax, which is set to expire...
The subject of inheritance is one that most people studiously avoid for a number of different reasons: superstition, fear, lack of knowledge, or—as this article by Gordon Powers points out—they don’t want to appear greedy. Furthermore, many older adults were raised to...
The recent death of Senator Ted Kennedy has given us an opportunity to reflect on the unique nature of trusts not only as a tool to protect assets for future generations, but also as a way to leave a lasting legacy for your children and grandchildren. The Kennedy...
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