Creating a trust is a powerful tool for preserving and managing your assets during your life and after your passing. Among the many decisions involved in establishing a trust, deciding how much decision-making power your Trustee should have is one of the most important. While all trusts include instructions, the amount of authority you provide your Trustee can significantly shape how the trust operates. To help you make the right choice for your trust, the Long Island attorneys at Eghrari Wealth …
Understanding Probate Litigation in New York
When a loved one passes away, their estate typically goes through a court-supervised process known as probate. Probate is meant to ensure that debts are paid, and assets are properly transferred to beneficiaries or heirs. Although probate is intended to facilitate the orderly administration of an estate, disagreements sometimes arise. These conflicts can lead to probate litigation. To help you better understand the issues that can arise, the Long Island attorneys at Eghrari Wealth Training Firm …
How Adult Guardianship and Power of Attorney Can Be Used for Incapacity Planning in New York
Although most people think in terms of planning for the distribution of assets when they contemplate their estate plan, planning for the possibility of incapacity should also be an essential part of your comprehensive estate plan. Both adult guardianship and a Power of Attorney (POA) can be used as incapacity planning tools as both options allow someone to step in and manage your personal or financial affairs if you become incapacitated; however, they function very differently in terms of …
Older Americans Month 2025 in New York: Flipping the Script on Aging
Each May, the nation observes Older Americans Month as a time to honor and celebrate the achievements, contributions, and resilience of older adults. In 2025, the theme “Flip the Script on Aging” encourages individuals and communities to challenge outdated narratives about aging and to embrace a more inclusive, empowering, and dynamic understanding of what it means to grow older. Throughout New York, events and initiatives are planned that reflect the evolving role older adults play in shaping …
The Risks of DIY Estate Planning
Estate planning plays a vital role in ensuring that your assets are distributed according to your wishes when you are no longer here. It typically includes preparing a Last Will and Testament, creating one or more trusts, naming beneficiaries, selecting fiduciaries, and taking other important legal steps. While online platforms and do-it-yourself kits may appear to offer a convenient and inexpensive solution, taking this route can expose you and your loved ones to significant risks. The Long …
Incapacity Planning in Your New York Estate Plan
When considering estate planning, many people focus on distributing their assets after death. A comprehensive plan, however, should also prepare for potential incapacity, which could result from illness, injury, or cognitive decline. Incapacity can leave you unable to make critical financial or medical decisions, making it essential to have legal protections in place. If you reside in New York, having the proper documents ensures that your affairs will be handled according to your preferences …
Incorporating an ABLE Account into Your New York Special Needs Plan
Planning for a loved one with special needs requires careful thought and a well-structured estate plan. In New York, one tool that can provide significant benefits is an Achieving a Better Life Experience (ABLE) account. This type of savings account allows individuals with disabilities to set aside funds for necessary expenses without compromising eligibility for vital government assistance programs. By understanding how an ABLE account works and how to integrate it into your special needs plan, …
How to Prepare for Aging in Place
Aging in place refers to remaining in your own home while maintaining safety, comfort, and independence as you grow older. This lifestyle choice has become increasingly popular among seniors who prefer familiar surroundings and autonomy rather than transitioning to an assisted living facility or nursing home. Proper preparation, however, is necessary to ensure that your home, finances, and healthcare needs are well managed. With that in mind, the Long Island attorneys at Eghrari Wealth Training …
Organizing and Storing Your Estate Planning Documents
Estate planning is a process that, when done correctly, requires ongoing attention and should include collaboration with an experienced estate planning attorney. Proper organization and storage of your estate planning documents will ultimately play a key role in ensuring your estate plan works as intended. Although you may store other valuable documents in a safety deposit box, that may not be the best choice for your estate planning documents. To ensure that your documents are safe and …
Incorporating Your Dog into Your Estate Plan in Celebration of Canine Fitness Month
April is Canine Fitness Month, a time to focus on keeping your furry companion happy, healthy, and active. While exercise and proper nutrition are essential for your dog's well-being, ensuring their long-term care is just as important. Many pet owners do not realize that they can incorporate their dog into their estate plan to provide for their needs if they become incapacitated or pass away. To help ensure that your dog is protected and provided for, the Long Island attorneys at Eghrari Wealth …
Top 5 New York Probate Myths
Probate is a legal process that takes place after someone passes away, ensuring that their assets are distributed according to their Last Will and Testament or, if there is no Will, in accordance with state intestate succession laws. Despite being a common legal procedure, probate is often misunderstood with myths and misconceptions about probate often leading to unnecessary fear and confusion. To help you navigate the process, the Long Island attorneys at Eghrari Wealth Training Firm discuss …
How Does an Irrevocable Trust Fit into My New York Estate Plan?
A trust is a common component of many estate plans. One of the first choices you will make when establishing a trust is whether it should be revocable or irrevocable. At first, it may seem illogical to create a trust that cannot be altered or revoked once established. As the Long Island attorneys at Eghrari Wealth Training Firm explain, however, here are compelling reasons why an irrevocable trust may be beneficial in a New York estate plan. Understanding an Irrevocable Trust A trust is a …
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