Tag Archives: estate planning
New York’s New Simplified Power of Attorney: How it Can Work for You
A new law taking effect in June 2021 makes it easier for New Yorkers to prepare and execute powers of attorney to delegate the handling of financial and legal matters to an agent. The law will make it easier for people to use POAs for multiple purposes, such as estate planning. Under prior law, the […]
Pros and Cons of Revocable Living Trusts in Estate Planning
A revocable living trust can be an effective method of distributing property to your intended beneficiaries without need of a probate proceeding. A trust is traditionally an agreement between two parties — the grantor and the trustee — directing how property is to managed and for whose benefit. But a living trust allows you be […]
Should You and Your Spouse Have Mirror Wills?
When a married couple plans their estate, they often create identical wills, also known as “mirror wills.” This arrangement makes sense to spouses who want the same things when they pass away. Typically, each spouse leaves all their property to the other or to their children if the other spouse dies first. Mirror wills may […]