Estate Planning (Wills and Trusts), Probate/Estate Administration Archives - Genser Cona Elder Law

Category Archives for Estate Planning (Wills and Trusts), Probate/Estate Administration

Will

Five Things That Will Impact Your Will

By: Marcus O’Toole-Gelo Having a Will is an essential part of an estate plan. A will directs how your probate assets will be distributed upon your passing, designates an executor to be in charge of your estate, and allows you to create trusts for minor grandchildren or disabled beneficiaries. However, having a will is just part […]

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Beware of Downloadable Estate Planning Documents

Downloadable Estate Planning Documents – Let the Buyer Beware

Downloadable Estate Planning DocumentsCaveat EmptorLet the Buyer Beware For years, Elder Law and Estate Planning attorneys have stressed the importance of obtaining advance directives (Power of Attorney, Health Care Proxy and Living Will) for anyone age 18 or older, including kids heading off to college.Recently, there has been a trend in advertising “downloadable estate planning documents.” […]

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Focus on Estates - What is Probate and Do All Assets Pass Through the Probate Court

Focus on Estates: What is Probate

Probate vs. Non-Probate AssetsIt is important to understand the difference between probate and non-probate assets. Probate is the legal process overseen by the Surrogate’s Court where a deceased person’s assets are distributed in accordance with their Last Will and Testament, or according to the laws of their state if they did not have a Will.  Probate […]

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Estate Planning - Don’t set it and forget it

Estate Planning: Don’t Set It and Forget It

Estate Planning is an on-going process. You should not “set it and forget it”. Doing so leads to unintended consequences, such as leaving out new grandchildren, making unequal gifts to heirs due to jointly titled assets, and even leaving money to a spouse with whom you are separated but never legally divorced. Here are a few things to […]

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Top 10 Myths of Elder Law & Estate Planning

Top 10 Myths of Elder Law & Estate Planning

Misinformation abounds in Elder Law, confusing older adults, community members and professionals alike. Don’t fall victim to inaccurate information and make costly mistakes! Get legal advice from experienced Elder Law attorneys like the attorneys at Genser Cona Elder Law. Here are some common mistakes:Top 10 Myths of Elder Law & Estate PlanningA revocable trust protects assets.A […]

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Health Care Proxy for College Students

Parents, Don’t Delay! Your College Age Children Must Have A Health Care Proxy

Health Care Proxy for College StudentsImagine this scenario:  You are the parent of a college student. Your telephone rings one evening and on the other end is your child’s roommate telling you that your child was just rushed to the emergency room. You call the hospital for information and identify yourself as the parent. The hospital advises […]

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What Should Happen to a Firearm When the Gun Owner Dies

What Should Happen to a Firearm When the Gun Owner Dies?

In New York State, many people are mindful of the strict laws and regulations concerning ownership of a firearm. However, most are unaware of the laws and regulations governing the disposition of firearms when a gun owner dies. The NY Safe Act [i] , enacted in response to the Sandy Hook shootings, provides guidelines and time frames for […]

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Estate Planning for Your Digital Assets

Have you ever thought about what happens to your email and social media accounts after your death? Or if you became incapacitated, would you want your agent under a power of attorney to have access to them? Traditionally, the executor of your estate or agent under a power of attorney (a fiduciary) stands in your […]

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Retirement Plan FAQ

Quick answers to common questions about retirement plans, including 401(k) plans, IRAs, Keoghs and SEPs. What’s Below: What is a qualified retirement plan? Why are 401(k) plans so popular? What is a Keogh plan? What does it mean to be “vested” in my retirement plan? Is an IRA a retirement plan? I work for a company and also have a small business […]

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Reducing Estate Tax by Making Gifts

Making gifts during your life can provide you with tax savings and more. NOTE: The federal gift and estate tax is being phased out, but its ultimate fate is still a hot political question.  While the estate tax is still in effect — or if Congress resurrects it after it goes away as scheduled in 2010 […]

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