Your friendly neighborhood branch banker suggests that you change all your accounts to either joint with your kids or to name your kids as beneficiaries on all your accounts (a “pay on death” beneficiary designation). She says this will make the administration of your estate when you die much less complicated and easier for everyone.

While we may know better, an 18-year-old is generally considered an adult under New York law. Many of those 18-year-olds will be heading off to college in the next couple of months. Parents’ rights to make decisions for their children change suddenly when they become 18. Parents no longer have complete access to their child’s

If you have a loved one with special needs, you know that caring for him or her can, at times, feel totally overwhelming. Presumably, you have retained an attorney to guide you through the special education process in your district. Now it is time to consider meeting with a special needs planning attorney to ensure

May is mental health month, the perfect time to address this important topic. Mental health and substance abuse disorders affect many families. These issues need to be considered in estate planning.

Mental health and substance abuse disorders cannot be “cured,” but they can be managed with proper support. Frequently, “relapse” is a facet of the

Trustee selection for a beneficiary with special needs presents unique challenges. The decision includes practical considerations: the proposed trustee’s geographic proximity to the beneficiary; familiarity with the needs of the beneficiary; and the time, inclination and ability to properly execute the duties that are unique to a trustee administering a trust for a person with

Remember, as a general concept, estate planning allows an individual to plan not only for what happens to his or her estate upon death, but also how his or her affairs are handled during life. There are certain documents that each person should have in order to accomplish these objectives. In Back to Basics: Estate

The media is filled with stories of deceased celebrities whose final wishes were either unknown or the subject of dispute. An important lesson: You can retain control of your finances after incapacity and remain in control of your visitation, funeral and burial (or cremation) plans after death, provided you have a comprehensive estate plan in

Sometimes, the terms of an irrevocable trust (one that cannot be amended or revoked) were appropriate at the time the trust was created, but subsequent events or circumstances make the terms of the old trust impractical, unwanted, or obsolete. So, what can be done?

Sometimes, the terms of a trust permit the trustee to make

A high-profile will contest hammers home the need for proper estate planning.

Frank Fritz, star of the History Channel show “American Pickers,” suffered a stroke, became incapacitated, and died on September 30, 2024, at age 60. Before he passed away, his friend, Chris Davis, became his legal guardian. Fritz’ will was submitted for probate on

It is important for all adults to have advance directives in place to ensure that your wishes will be carried out if you become incapacitated. There are three basic types of advance directives: a living will, a health care proxy and a power of attorney.

A living will is a document in which you state