Search Results for: New York trusts lawyer

For many New Yorkers, the term ‘trust‘ continues to invoke visions of the super wealthy. Similarly, terms like “trust fund baby” are used to refer to spoiled, rich individuals who do no work on their own and simply live off their parents savings. The connotation is always negative. As our estate planning attorneys often explain, […]

While many New York residents familiar with and have an existing will in place in the event of their death, most people do not realize that estate planning documents extend far beyond a last will and testament. The world of estate planning documents includes not only living wills and advanced medical directives, but also trusts. […]

Families throughout New York who have children with disabilities are frequently questioning how to best provide for their children’s needs–both now and in the future. It can be a complex issue, because relatives must balance their ability to provide help via their own private resources with available support through Medicaid and Supplemental Security Income (SSI). […]

Some New Yorkers eschew an estate plan because they assume their wishes are very simple. “I just want the kids to split it” is a common refrain. For one thing, default rules in the state do not automatically mean that children will split a parents’ assets. The only way to do that is by ensuring […]

Property rights and rules are some of the most complex (and arcane) areas of the law. Of particular importance for estate planning purposes, property rules allow different individuals to each have different “interests” in the same piece of property. It is not necessarily as simple as one person owning each piece property. This presents unique […]

There will soon be a new chief in town when it comes to monitoring the activities of New York charitable organizations. According to a report last week in the Wall Street Journal, James Sheehan was named the head of a state agency known as the Charities Bureau. This entity may not be a well-understood by […]

In recent decades, “pet trusts” have grown in popularity as a way for residents to include their beloved animal companions in their estate plans. Our estate planning attorneys work with residents in this regard, setting aside appropriate assets to ensure pet dogs, cats, and other animals have funds available to pay for their well-being for […]

One of the biggest misconceptions about general estate planning is that a “trust” is something that only rich families need to consider. This perception likely arises from colloquial use of “trust funds” to signify wealthy individuals who are living off substantial earnings preserved for them in a trust. A better understanding of the legal tool […]

Earlier this year we shared information about a $40 million New York inheritance that was destined to go entirely to the government. 97-year old former NY developer Roman Blum died in January, leaving behind the multi-million dollar estate. Yet, it seems that Blum conducted no estate planning–no trust was created and no will was found. […]

Local families with disabled children often have added complexities when conducting New York estate planning. Parents of children with special needs have a clear desire to ensure that estate plans are in place so their loved one will have necessary resources throughout their lives–even after the parents are gone. Fortunately, New York allows parents to […]

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