Estate planning typically involves managing your assets, determining who will inherit them, and appointing individuals to carry out your wishes. Ensuring your final wishes are honored, however, does not stop at asset distribution. To ensure that all your wishes are honored, funeral planning should be part of your estate plan. Toward that end, the Long Island attorneys at Eghrari Law Firm discuss why you should include funeral planning in your estate plan. Alleviating the Emotional …
What Role Should Life Insurance Play in My Estate Plan?
Life insurance is a key element in many estate plans because it can serve multiple purposes. Deciding which type of life insurance to purchase, how it fits into your estate plan, and the amount of coverage you need, however, can be difficult. Furthermore, as your life changes, your life insurance needs may also shift, requiring periodic review. To help you make the most out of your estate plan, the Long Island attorneys at Eghrari Law Firm shed light on the role life insurance plays in your …
Tips for Providing Care to an Elderly Loved One
Caring for an elderly loved one is a responsibility that often comes with emotional stress and logistical challenges. To provide the best care possible, it is important to approach this responsibility with careful planning, empathy, and a willingness to seek help when needed. To get you started, the Long Island attorneys at Eghrari Law Firm discuss some essential tips to help you care for your elderly loved one. Elder Care Tips Caring for an elderly loved one requires a thoughtful approach …
Can a Trust Be Contested in New York?
When you create a trust, you likely do so with the intention of avoiding the complications and delays often associated with probate. Even a well-crafted trust, however, is not immune to disputes. Understanding the grounds on which a trust can be contested can help you better prepare and ensure that your estate plan reflects your wishes. Toward that end, the Long Island attorneys at Eghrari Law Firm discuss when and how a trust can be contested in New York. On What Grounds Can a Trust Be …
What Can I Do to Decrease the Likelihood of a Will Contest After I Pass Away?
For most people, the primary reason for creating a Last Will and Testament is to ensure that their wishes are honored, and their assets are distributed according to their intentions. A Will can, however, be contested which can drag out the probate process and could eventually lead to the Will being declared invalid. While there is no way to ensure with certainty that your Will won’t be contested, the Long Island attorneys at Eghrari Law Firm explain what you can do to decrease the likelihood of …
How to Navigate Trust Administration for the First Time Trustee
Trusts are among the most popular additions to an estate plan, in part because a trust can benefit the most basic of estate plans but can also be a valuable addition to a complex estate plan. When the Grantor (the person who creates the trust) creates the trust, several important decisions must be made. Chief among those decisions is the appointment of a Trustee to manage trust assets and oversee the administration of the trust. The prospect of serving as a Trustee can be an overwhelming one. To …
Including New York State Advance Directives in Your Estate Plan
When it comes to planning for the future, few things are as important as making sure your healthcare decisions are respected, even if you are unable to make or communicate them yourself. In New York State, advance directives play a crucial role in ensuring that your healthcare preferences are followed. Understanding the different types of advance directives available and how to implement them can provide peace of mind for you and your loved ones. With that in mind, the Long Island attorneys at …
All Wills Are Not the Same: What Type of Will Is Right for You?
When you think about estate planning, you probably envision a Last Will and Testament as the foundation of any well-drafted estate plan. Whether you have executed your own Will yet or not, you likely know what one is and how a Will fits into your overall estate plan. What you may not know, however, is that all Wills are not the same. There are actually different types of Wills. To help ensure that your estate plan works as intended, the Long Island attorneys at Eghrari Law Firm help you decide …
Can I Modify My Last Will and Testament?
Like most people, a Last Will and Testament was probably the first estate planning document you executed. Although you may have added to your estate plan since executing your Will (or will do so in the future), your Will likely remains the foundation of your comprehensive estate plan. Hopefully, your Will reflects your wishes at the time the document was executed; however, what happens if those wishes have changed since then? Can you make changes to your Will? To help answer that question, the …
7 Ways a Trustee Can Breach Their Fiduciary Duty
Entrusted with managing assets for the benefit of others, a Trustee has a significant responsibility to act in the beneficiaries' best interests. This fiduciary duty requires Trustees to adhere to high standards of care and loyalty. Breaches of this duty, however, can occur. To ensure proper management and accountability in trust administration, it's important for both Trustees and beneficiaries to understand fiduciary duties. With that in mind, the Long Island attorneys at Eghrari Law Firm …
8 Things to Know About a Living Will in New York
A well thought out and comprehensive estate plan should do more than simply outline how your estate assets are to be handled when you pass away. Your estate plan should also contemplate the possibility of your incapacity and incorporate tools, such as advance directives, into the plan to ensure that your wishes are honored if you do suffer a period of incapacity during your lifetime or at the end of your life. A Living Will is one type of advance directive that outlines your preferences for …
Are My Assets at Risk If I Need to Qualify for Medicaid When I’m a Senior in New York?
As you move into your retirement years, the potential need for long-term care may become a significant concern given the exorbitant cost of that care. For many seniors, Medicaid is a crucial resource for covering the cost of long-term care; however, you may worry about the impact the need to qualify for Medicaid could have on your hard-earned assets. To help you better understand and plan accordingly, the Long Island attorneys at Eghrari Law Firm discuss whether your assets are at risk if you …
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