Articles Posted in Wills

New York Governor Andrew Cuomo has issued Executive Order 202.7, which temporarily suspends the rule requiring physical appearance before a notary public until April 18, 2020. Key points of the executive order:

The SECURE Act, effective January 1, 2020, makes significant changes to the laws affecting IRA and 401(k) plans. Key items: You can now make IRA contributions beyond age 70½. Under the new law, you can continue to contribute to your traditional IRA past age 70½ as long as you are still working. Required minimum distributions…

One of the most common mistakes in estate planning is failing to pay attention to beneficiary designations on life insurance policies, IRAs and 401(k) plans. You may not accurately recall who you named as beneficiary or previous designations may be no longer reflect your wishes due to changed family circumstances. Have you taken your ex-spouse…

While it’s heart wrenching to think about not being there to raise your children, imagine a court choosing their guardian without input from you. That’s why it’s important to nominate a guardian in your will while it’s still up to you. What is a guardian? This is the person who will be raising your children.…

A “disclaimer” is a formal refusal by a donee of property (by gift or by will) to accept the gratuitous transfer. Though seemingly an unusual event, disclaimers are actually quite common, for a variety of reasons. For example, a wealthy widow who has no need for the additional property willed by her deceased husband may…

The Surrogate’s Court is the court in New York where all matters relating to Wills and Trusts are determined. The Surrogate is the title of the judge in this particular court, and each county in New York has at least one Surrogate (New York County, covering Manhattan, has two). The Surrogate’s Court handles, among other…

Beginning May 13, only individuals with tax identification numbers… either a Social Security number (SSN) or an individual taxpayer identification number (ITIN) may request an employer identification number (EIN). This new requirement, recently announced by the IRS, will provide greater security to the EIN process by requiring an individual to be the responsible party and…

A will is a legal document that sets forth your wishes regarding the distribution of your estate and the care of your minor children after your death. A last will and testament is among the most important legal documents that you will ever sign. Wills are the foundation of your estate plan and help protect…

A number of New York State legislators are sponsoring A 2694 / S 3947, Medical Aid in Dying Act. The bill would allow qualified, terminally-ill adult residents of New York to legally obtain a prescription from their physician for medications to end their life peacefully, in a dignified way, at the place and time of…