Even when people save aggressively for retirement, their resources may not be enough if they have unusual expenses. When older adults need long-term care later in life, the cost of their support could amount to thousands of dollars per month. Despite what people often...
Losing a parent or other close family member has a way of triggering intense disputes among those who are grieving that person's passing. The death of a parent, for example, could do serious damage to the relationships among their surviving children. If one child of...
Many people who are widowed or divorced name an adult child to be the executor of their estate. While some name all of their children, parents often think this will cause conflict. Of course, choosing one child over the others can also cause conflict and resentment if...
When someone creates an estate plan, they usually designate someone to be their executor. That’s the person who is entrusted with the duty of making sure that their final wishes are followed and their estate is properly settled. An executor has a “fiduciary duty,” or...
A diagnosis of Alzheimer’s disease or other form of dementia can be devastating and frightening for the affected patient and for their loved ones – even if the diagnosis itself is not particularly surprising. If your parent has recently been diagnosed with a...
Those who put together an estate plan in New York typically want to provide something meaningful for the people closest to them. For example, many adults in New York wish to enrich the lives of their children and provide a final, meaningful memory for their children...
Many adults in New York set aside a million dollars or more to fund their retirement years. Oftentimes, people burn through a significant portion of those resources in the early years of their retirement when they are still active. Travel, gifts for loved ones and...
Estate disputes sometimes occur because two siblings simply do not agree on what their parent’s estate consists of. For example, perhaps your mother recently passed away. Your sister lived close to home and took care of her, while you mostly communicated by phone...
The probate process is often frustratingly slow, especially for those who want access to their inheritance as soon as possible. Even when someone has a very thorough estate plan in place before their death, the need to notify creditors, wait for court hearings and...
There are numerous risks that you take when you agree to administer the estate of someone that you love. The responsibilities that you perform as the executor of an estate could damage the relationship that you have with one of the beneficiaries. Your responsibilities...
