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Category Archives: estate planning
THE FACTS: For months now I have been meaning to schedule an appointment with an estate planning attorney to discuss my wishes with respect to a will, healthcare proxy and power of attorney. I have a lot of questions and really need some guidance as to what I should do and how I can best […]
THE FACTS: Just before my husband died we adopted a puppy we named Morris. Morris is a great source of comfort and joy and I cannot imagine being without him. My concern is that something may happen to me that makes it difficult or impossible for me to care for Morris. Although my children live close […]
February 7, 2020 – 9:53 am
THE FACTS: My brother Tom recently passed away. I am the administrator of his estate. Tom had no children and was not married at the time of his death, but he was living with Sue. They had been living together for over 10 years. About a month after Tom’s funeral, Sue told me that she and […]
January 10, 2020 – 9:50 am
THE FACTS: My husband Joe and I own our house jointly. In addition to our joint checking account, Joe has a savings account with a balance of about $100,000. Joe suffers from advanced dementia and his health is failing. I do not know how much longer he will be able to live at home with […]
December 2, 2019 – 3:19 pm
The Facts: I will be getting married soon. It is a second marriage for both me and Mary. We both have children from our prior marriage. Question: Is there something can have Mary sign to insure that my assets will pass to my children when I die? The Answer: If you are only worried about […]
October 30, 2019 – 3:17 pm
The Facts: My grandson Frank is disabled and will likely need medical and financial assistance as an adult. I would like to name Frank and my other grandchildren as beneficiaries in my Will but, I am concerned that doing so may make Frank ineligible for government assistance programs. Question: How can I leave Frank money […]
October 8, 2019 – 3:14 pm
The Facts: My brother Joe died recently. At the time of his death, Joe was living in a house that has been in the family for generations. When my father died, Joe inherited the house. It was understood that he would eventually pass it on to me, his only surviving sibling, or to his children […]
September 10, 2019 – 3:12 pm
The Facts: I have been estranged from my family for many years. I want to be sure that family members are not able to inherit from my estate Question: Is that possible? The Answer: While you cannot disinherit your spouse, you can certainly take steps to prevent your siblings, children, cousins and other blood relatives […]
August 11, 2019 – 3:08 pm
The Facts: When I was three, my parents adopted a baby and named her Mary. My mother died seven years later and my father remarried. My father and his second wife had two children together. My father recently died without a Will. My half-siblings insist that since Mary is not my father’s biological child, she […]
The Facts: I am a widow with modest assets and a small IRA. I have two grown children and two young grandchildren. My friends have been urging me to see an attorney about developing an estate plan. The Question: Considering the size of my estate, is that really necessary? The Answer: The short answer to […]
THE FACTS: I am one of four children. My siblings are Joe, Bill and Mary. My mother died last month. About 15 years ago, she went to her attorney and had a will prepared in which she named me as executor. Rather than divide her estate equally between her four children, my mother essentially disinherited […]
The Facts: My sister, Joan, suffers from mental health issues that sometimes make it difficult for her to handle her own affairs. In order to guarantee that her bills were paid on time, my sister added my brother, Joe, as a joint owner on her bank account. A few years ago Joe guaranteed a loan […]
The Facts: Last year my aunt Sue died without a Will. She was widowed and owned a house that had been in our family for generations. The understanding was that when she died, the next generation, including me and my siblings, would inherit the house. Recently, my aunt’s daughter, Mary, signed a deed transferring the […]
The Facts: My father purchased long term care (“LTC”) insurance decades ago. Since he had been widowed at a relatively early age, he felt it was important that he have coverage in the event he ever needed skilled nursing care or in home care. Recently it has become obvious that my father’s ability to handle […]
February 26, 2019 – 2:09 pm
The Facts: My mother had a savings account which held nearly $50,000. About a year ago while my daughter was visiting my mother, my mother and daughter went to the bank to make a deposit. While there an employee of the bank advised my mother that it was important that she name a beneficiary on […]
January 29, 2019 – 2:06 pm
The Facts: My elderly aunt, Mary, has no spouse or children and is getting to the point where her heath is failing and she is forgetting to pay her bills. Mary has a will and a healthcare proxy but, she has not appointed anyone to handle her financial affairs or assets. The Question: What do […]
December 16, 2018 – 2:03 pm
The Facts: My brother Joe was dying from cancer and wanted to be sure that all of his assets passed to his wife, Mary, upon his death without the need for court intervention. He mentioned this a number of times so I assumed he had taken the necessary steps to insure that his wishes were […]
November 17, 2018 – 2:01 pm
The Facts: About a year before he died, my father bought a puppy that he adored. His name was Gizmo. My father’s will provided that $15,000 was to be left to the person who agreed to take care of Gizmo after my father’s death. My father told me that he set aside $15,000 because he […]
October 23, 2018 – 1:59 pm
The Facts: My father executed a Will many years ago in which he disinherited my older brother, Joe, and named me as executor of his estate. Joe had been estranged from the family for years. My father recently passed away. I have looked through all of my father’s papers and cannot find the Will. I […]
September 23, 2018 – 1:56 pm
The Facts: My mother recently passed away. She and my father were divorced and my mother was in a long term relationship with Tom. My mother prepared her will before she met Tom. After living with Tom for many years, my mother made changes to her will by writing in the margins of the pages […]
August 28, 2018 – 1:52 pm
The Facts: I am in my late fifties and am thinking about purchasing a long term care insurance policy. The Questions: What are some of the factors I should consider before I purchase a policy? The Answer: Long term care insurance can be very confusing and may not be the best option for some people. […]
The Facts: In his Will my father names me as the executor of his estate. I filed a petition in the surrogate’s court to be appointed executor and have been issued letters testamentary. In addition to his home in New York, my father owned a vacation home in Florida which I need to sell. The […]
The Facts: Many of my friends have told me that I should transfer my house to my son and retain a life estate. The Questions: What are the pros and cons of doing that? The Answer: People often transfer their property to their children and create life estates because they believe it is the best […]
The Facts: After my husband died, I remarried a wonderful man named Joe. Joe had been married before and had 3 children with his first wife. Since Joe moved into my house and was helping to pay the carrying costs, I decided to add Joe as an owner on the deed to my house. Shortly […]
February 13, 2018 – 1:26 pm
The Facts: After my mother’s death I was approached by a man I will refer to as Joe who claims that my mother was his biological mother as well. According to Joe, before she and my father married, my mother gave birth to Joe and immediately put him up for adoption. Although Joe admits that […]
January 30, 2018 – 12:00 pm
The Facts: Approximately five years ago, my father remarried and he and his second wife, Mary, purchased a house together. At the time my father told me that he alone paid for the house and that his plan was for the house to pass to me and my sister when he died. My father is […]
December 8, 2017 – 1:19 pm
The Facts: I would like to help defray the cost of college for my grandson, Joe. My daughter and son-in-law are not in a position to pay full tuition, room and board I don’t want them or Joe to borrow for his education. The Question: What is the best way to help out without hurting […]
November 8, 2017 – 12:00 pm
THE FACTS: My husband and I are in our sixties and have three grown children. All were given the same opportunities growing up, but they did not all take advantage of those opportunities or make wise decisions about their futures. Our two daughters are financially secure and doing very well. Our son, however, has struggled […]
October 13, 2017 – 12:00 pm
THE FACTS: My mother has a dog, Fido, who means the world to her. When it comes to Fido, money is no object. She is very concerned about what will happen to Fido when she dies. Not only does she worry about who will care for Fido but also about who will pay for Fido’s […]
September 22, 2017 – 12:00 pm
THE FACTS: I had my will prepared years ago. The estate tax exclusion amount at the time was considerably less than it is now, so my will contains a provision that directs my executor to create a credit shelter trust to avoid estate taxes. The trust provision mandates that the credit shelter trust be funded […]
August 22, 2017 – 12:00 pm
THE FACTS: My father and sister perished in a plane crash under circumstances making it impossible to determine the order of death. My sister is survived by her spouse, Joe, and two children. My father’s will leaves his entire estate in equal shares to me and my sister, per stirpes. He was under the impression […]
THE FACTS: My elderly aunt never married and is living alone. During my recent visits with her, it has become evident that she cannot continue to live independently. She is not bathing regularly, there does not appear to be much food in the house, some of the food is past its prime and the mail […]
THE FACTS: After my mother’s death, my father met a woman, Mary, who was his partner for many years. They lived in my father’s house, which has a value in excess of $3 million. In his will my father left the house to Mary. He also named Mary as the beneficiary of his life insurance […]
THE FACTS: My mother’s will provides that her house will be sold and the proceeds divided equally between me and my brother. However, because she was concerned about needing long-term care, a few years ago she signed a deed transferring the house to my brother and retaining a life estate in her favor. THE QUESTION: […]
February 13, 2017 – 12:00 pm
THE FACTS: I am trying to help my elderly parents organize their affairs. They want things to be as simple as possible for me when it comes time to handle their estates. My parents have wills and other advanced directives in place. THE QUESTIONS: Other than their wills, are there other documents or any types […]
January 13, 2017 – 12:00 pm
THE FACTS: My father died recently. He had a will in which he named my brother as executor. My brother and I have not spoken to each other in a number of years. I am concerned that he will close out my father’s accounts and sell his house and keep all the money even though […]
December 8, 2016 – 12:00 pm
THE FACTS: With the holidays fast approaching, I’ve been thinking about making gifts of cash to my grown children. I’ve heard that I can give each child $14,000 without any negative tax consequences. I am not wealthy but, at this point, I believe I can afford to give each of my children $14,000. I know […]
November 11, 2016 – 12:00 pm
The Facts: I recently inherited a beachfront house that has been in my family for generations. Although it was quite modest when first built, the house has appreciated tremendously over the years. As a result of the inheritance, the value of my estate is now in excess of the estate tax exclusion amount. I do […]
October 18, 2016 – 12:00 pm
The Facts: I have three young children and want to be sure that they will be taken care of in the event my husband and I die before they are adults. I understand that I can appoint guardians for my children in my Will but, I am having a great deal of difficulty deciding who […]
September 15, 2016 – 1:53 pm
The Facts: As part of their Medicaid planning, over ten years ago my parents transferred their house to my brother Joe. They did not put my name on the deed because I had filed for bankruptcy. However, the understanding was that at some point after their deaths, Joe would sell the house and give me […]
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