People often have misconceptions about how assets pass after death. Some even believe that if they do not transfer property they own to their children, it will go to the state.

A will leaves the estate to named persons and organizations. Through a will, the testator can make specific gifts, distribute percentages of the estate, and create trusts for management and future distribution of all or some of the assets of the estate.

Most people realize that estate planning is important, but nevertheless procrastinate getting it done

Estate planning aims to achieve a number of objectives including, but not limited to, designation of guardians, incapacity planning, asset protection, asset distribution and wealth maximization.

Executing a will is the act of signing a will and making it legally binding. New York law has strict requirements for executing a will. First, a person executing a will must be at least 18 years old.

A joint will is a will that two or more people make together, rather than each making their own will individually. In practice, a joint will is typically created and signed by a married couple in order to dispose of property that they own together.

The purpose of a no-contest, or In-Terrorem, clause in a will is to deter a lawsuit challenging the will. If the person making a will sees potential red flags such as tensions between beneficiaries…

There are various reasons why someone would want to revoke a will. Many, if not most, people make more than one will during their lifetime.

Estate planning can be overwhelming for many people, in part, because good estate planning involves planning not just for foreseeable circumstances, but for unforeseeable ones as well.

With the rising aging population, many elderly Americans need help from their family or friends when it comes to their health, financial or other affairs in retirement and old age. They often believe that their family members will be able to take care of any issues...