Search Results for: estate planning for parents in NY

Attorneys strongly advise gay and lesbian clients to prepare their estate plans, because the law generally would not offer many of the same protections as it does heterosexual couples. But following the recent Supreme Court decision in Obergefell v. Hodges, striking down the Defense of Marriage Act (DOMA), misinformation abounds, especially on the Internet, regarding […]

An estimated 50 million American households now include a child being raised by a grandparent. Even more households include multi-generational families, where 3 and 4 generations live together. Even the Whitehouse included such an arrangement, as President Obama’s own grandmother resided with his family until her death just before the 2008 election. But with more […]

Most of the estate planning tips and tricks revolve around plans for couples; however, a single person’s estate plan is just as important. In many circumstances, the way that a single person structures their estate plan and who is named differs from an estate plan of a couple. Just as with couples, if a single […]

As adult children delay marriage and elderly parents are living longer, estate planning can sometimes get lost in the shuffle. A recent survey showed that only about 55% of all parents have an estate plan or even a simple will. In addition, almost 25% of people ages 65 years and older admitted that they do […]

Each decade of life ushers in a new set of challenges and issues for financial and estate planning. In your 20s, you are trying to establish yourself as independently financial and pay off your student loans. In your 30s, the estate and financial focus typically turns to planning for a family. There can be more […]

Many parents with adult children find the idea of discussing their estate plans uncomfortable, embarrassing, or unnecessary. Few parents want to think about their mortality or bring up the subject with their kids. Concerns about family fights over parts of the estate, which child is getting what, or reliance on a future inheritance also put […]

Not only is it important to create an estate plan that documents your final wishes for your estate and medical choices, but it is equally important to remember where those documents are when they are needed. Family members or close friends need to know where they can locate your estate planning documents in the time […]

More and more grandparents are now using some of the money that they have tucked away using retirement and estate planning to help their grandchildren pay for college. According to a study done by Sallie Mae, 17% of families in the United States relied on relatives to help pay for college. This percentage is expected […]

A lot of people assume that estate planning is just for the old and the wealthy; however, that is not the case. As a Daily Finance article discusses, when you are in your thirties, planning for your eventual passing is not usually a top priority, but most estate planning experts agree that this is the […]

A number of seniors who are preparing for retirement and estate planning do not have children. Some childless retirees plan on hiring a child – a younger caregiver who will look after them in their old age. Children usually serve as the caregiver and beneficiaries to an estate, and they can typically be relied upon […]

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