Update your estate documents – or face unpleasant surprises!
In a recent case that I saw, a woman lived together with a man for approximately 10 years. She loved him very much and wrote a Will, leaving all of her assets to him. They never married. Eventually, the couple separated. After a couple of years, the woman began dating another man. Yet she...
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Main Reasons Why Families Fight Over Estates
1. Location of Siblings. It is often the case that one sibling provides care and support for an aging parent, while other siblings are distant (either physically or psychologically). While the local sibling provides support, that same sibling may also control the parent’s finances. The same sibling may also bring the parent to an...
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Top 3 Estate Battles of 2016
In 2016, several well-known families had well-publicized fights about estates. These disputes should teach everyone to take action and be aware of their estate plan while they have mental capacity!PrincePop artist Prince died in April 2016 without a Will. Since his death, at least 30 individuals have come forward claiming to be Prince’s children,...
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Do your plans for 2017 include estate planning? Below are 5 tips to consider!
Schedule a family meeting to discuss your assets and your wishes with them. Create an inventory of your assets and share it with your family. Don’t leave your family in the position of scrambling in their search for documents and assets in the future!Consider giving your children and your spouse passwords to your digital...
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Are you at risk to have your Will invalidated?
A Will execution has many formalities - ensure that your attorney actually knows them!Most people think that writing and signing a Will is easy. I often hear from friends "Any attorney can do it", or better yet "It's so easy, I don't need an attorney, I will do it myself". Well, do so at your...
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Financial Crimes Against the Elderly
Elderly people are vulnerable to fraud and financial abuse. There are many reasons: isolation, weakening mental and physical condition, memory loss and lack of knowledge about today's markets and technology.According to New York State Elder Abuse Prevalence Study, only 1 out of 44 cases of financial abuse is reported, usually because the victim...
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Can you adopt an adult in New York?
The main reason for adult adoption is usually related to qualifying to receive an inheritance: If a person is not related to you biologically or legally and your will cannot be found, then the person has no right to inherit your money. However, getting around this issue can easily be resolved by writing a Will...
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Don’t live an isolated life (and help seniors in your life to connect)
It's a New Year. People are trying to fulfill their new resolutions about money, weight loss and projects. I would suggest a resolution about friends. It is well known that seniors who are isolated are more likely to be sick and depressed. We all need companions, if only to complain to about our health and current politics. Take some steps...
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Buy / Sell Agreements
What are these agreements? These are absolutely crucial both to start ups and to existing businesses where there is more than one owner involved. This document outlines the relationship between the owners, assigns roles and responsibilities, shows the ownership percentage of the business and outlines what happens when the owners need to part ways....
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Protecting Your Estate Starts with a Prenuptial (or a Postnuptial) Agreement
The rate of second and third marriages in the United States continues to increase. Each spouse may bring children, assets, heirlooms, and very specific wishes into the new marriage. Some want their children to inherit the bulk of the assets. Others want specific heirlooms (painting / jewelry / watch) to be passed down to specific people....
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