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Breaking Up Is Hard to Do

New York Family Law Blog

How can a QTIP trust benefit you?

After you die, any shared property you own typically belongs to your spouse. However, in some circumstances, you may put the property in a trust before your death. Using a qualified terminable interest property trust is one method of doing so.

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Planning your estate may secure your comfort and preparedness

With uncertainty, an inherent part of living, your decision to begin planning your estate may provide unparalleled comfort and preparedness. Through your effort to provide your family in New York with insight and clarification about your desires, you may continue to give them comfort and support even after your death.

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Be wary of do-it-yourself estate planning

Do-it-yourself projects are trendy. An online search will bring up video tutorials for nearly anything that comes to your mind. These videos can be useful for learning the best technique to paint a room. However, you may want to rethink rewiring your home unless you’re a certified electrician.

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Initial questions to ask a divorce lawyer

With a matter as important as divorce, you do not want to hire just any lawyer or go into your case blindly. Below are some crucial questions to ask before you begin your divorce.

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Is it time to update your estate plan?

New York residents have a lot to consider when working on estate plans. You have to decide how to divide and distribute your assets. You need an executor to carry your will out. It is natural that your wants and needs may change over the years too. What do you do when that happens?

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Online and text message content may influence a divorce

Some people would prefer to keep their divorce confidential, but they do not have control over what a soon-to-be ex-spouse posts online. While false statements about an individual could result in a defamation suit, negative content in general may draw unwanted attention to a couple’s private affairs.

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Optimizing an inheritance through careful planning

When people in New York receive a large inheritance whether they were expecting it or not, the way they utilize their gift is instrumental in determining how meaningful and beneficial it is. Careful, strategic planning and proper utilization of funds may provide heirs with an added appreciation for a generous gift.

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What is collaborative divorce?

The word divorce often conjures up images of courtroom battles. There is no doubt that divorce can end up being a very bitter legal process in some cases. However, there are multiple ways to go through divorce. Particularly for those looking at a high asset divorce, cost can be a big concern. Some divorces can cost thousands of dollars in both time and treasure to complete.

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Do investments matter when choosing a power of attorney?

While planning your estate and deciding on a power of attorney, did you account for your investments? Having a financial POA is undoubtedly essential, but careful planning is especially vital when you have investments to think about. To help you make a favorable decision for your financial future, and your heirs’ financial future, see what FINRA has to say on the matter.

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Divorce and your estate plan

If you are approaching or in the midst of a divorce, you know how hard it can be to figure out how to split assets with your spouse. At this time, it is essential that you seek a divorce agreement that protects your financial future and the financial future of your children as well.

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