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June 2017 Archives

Wills important to more than just the extremely wealthy

In the minds of many in New York, estate planning is necessary only for those who are extremely wealthy. However, creating wills is invaluable for anyone with an asset or loved ones. For instance, estate plans are relevant to those who own homes, have grandchildren or children, have elderly parents and have bank accounts.

Wills important for young adults, too

Those in New York who are young, whether they ae single or married, often do not give much thought to estate planning. After all, they naturally feel as though they will live long lives, so creating wills is not an immediate concern. However, estate planning is an important concern for any adult.

A few steps necessary for buying residential real estate

Purchasing a house is a big step, particularly for those who are unfamiliar with the process. The residential real estate market in New York can be especially complicated to navigate for first-time buyers and even for more experienced home purchasers. A few tips may help would-be buyers to take the right steps during this multifaceted process.

Digital assets can be included in wills

When someone in New York passes away with no will, the state will determine how the person's assets will be distributed. However, the majority of courts have not created rules regarding the distribution of digital assets, including social network accounts and/or email accounts. For this reason, addressing these types of assets in wills is an important part of the estate planning process.

Wills important for passing down family businesses, properties

Passing down an important asset, such as a property or business, can be an emotional and complicated journey. For this reason, many families try to steer clear of discussions about wills. However, estate planning is still an important topic to address as part of future financial planning in New York.