August 2018 Archives

The importance of digital asset management in estate planning

These days, New York estate planning usually includes a strategy on how to handle important online information. This is necessitated by various factors: most notably the rise of the internet as the world's primary communication channel. Third parties now hold most letters, images and memories on remote storage devices. Commonly, large international tech companies, such as social networks, computer manufacturers and advertising companies, are the entities providing these services.

How can I control my estate after distribution?

You are far from alone if you have suspicions your heirs might misuse the resources that you intend to leave to them. Many New York families have the same concerns, whether they stem from the immaturity of the beneficiaries, a known inclination towards a certain type of spending or even differing political views. Your assets represent your own hard work — and potentially that of your forbearers as well. Unfortunately, a will would simply bequeath assets in most cases, giving you no control over how they are spent, leveraged against or disposed of. 

When are living trusts a bad idea?

Many people are recommended to start living trusts when they begin planning their estate. Living trusts can be beneficial for many people who are looking to avoid losing high portions of their estate in the probate process and create a legacy for their loved ones. There are many benefits that come with starting a living trust, but before starting one, it is important to understand more about the wide variety of estate planning tools and strategies that are available to you.

Could my beneficiaries contest my will?

Will contests are somewhat common in New York. However, if you were concerned about the enforceability of changes you made to your will, it might help to know that successfully contesting a will often takes a solid legal basis, extensive knowledge of case law and familiarity with the probate process of the relevant jurisdiction. Perhaps most importantly, the court would only consider a few people automatically eligible to formally argue with your decisions. 

The effort that goes into creating a trust

At our New York offices, the team at Joseph A. Ledwidge, P.C., believes that everyone should have access to effective estate planning tools. You could protect your loved ones after you pass, save more of the value of your estate and maintain the direction and purpose of your assets by creating the appropriate trust structure. We take pride in helping our clients obtain peace of mind, but the process often involves far more than simply drawing up a document for somebody to sign. 

Joseph A. Ledwidge, P.C.
17026 Cedarcroft Road
Jamaica, New York 11432

Phone: 347-395-4799
Fax: 718-701-3726
Map & Directions

Joseph A. Ledwidge, P.C.