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September 2014 Archives

The duties of an executor

The task of choosing an executor may seem daunting to New York residents who are planning their estates. Knowing what an executor does may help people identify who may best fill that role.

Certain assets are not affected by wills and trusts

New York individuals who have gone through the process of establishing a will and trust may be interested to find out that a large portion of their estate may not be impacted by these documents. While a trust or will may name certain beneficiaries for passing assets in these documents, beneficiary designation forms affect a number of different types of assets.

What is a will and what happens if someone dies without one?

It may be important for New York residents to understand what happens when someone dies without a will. A will is a legal document that is written before a person's death that dictates how that person would like their property to be divided after they die. When there is no will left by a deceased person, the state will then determine how to divide the remaining assets.

Basic facts about living wills

One of the most important documents New York residents can include in their estate plans is a living will. Not to be confused with a last will and testament, a living will is a short document that gives directions to medical providers to follow in cases where patients are unable to make decisions for themselves. A living will can be as general or as specific as the writer wants it to be. Experts advise those who are interested in writing a very specific living will to consult with their doctor about their treatment options.