What is a Chapter 13 repayment plan?

When you file for Chapter 13 bankruptcy, you may wonder what steps come next in the process.  After filing for this type of bankruptcy, you need to acquire a reorganization plan, which allows you to restructure your debt.  Learning about it  According to FindLaw, a...

How does probate work in New York?

When someone dies in New York, his or her executor presents the will to the Surrogate's Court in the county where the person lived. In a process called probate, the court determines the validity of the will and supervises the administration of the deceased person's...

A look at small estates in New York

If you have a relatively modest estate, it is still important to set up an effective estate plan. Unfortunately, many people with modest estates fail to create estate plans, which often causes their loved ones to experience anxiety and uncertainty after their death....

Could a no-contest clause backfire?

The possibility of your heirs contesting your will may concern you. The monetary costs and emotional distress of a will contest is something you do not want for your surviving family members. You might think placing a no-contest clause in your will is the answer....

3 benefits of a special needs trust

Having a child who has a disability can be challenging for any parent. Not only must you find care and accommodations for your son or daughter, but you must also ensure he or she has the necessary funds to thrive after your death. Still, giving money to your child may...

The pros and cons of aging in place

Long-term care planning may involve aging in place with home health services. Living at home may sound appealing, but being housebound has some disadvantages, as well. The New York State Department of Health provides information about various home care services that...

What does a health care agent do?

Whether you are an older adult preparing for end of life issues or the possibility of becoming incapacitated or you want to help a family member prepare for challenges that could arise later on, it is crucial to go over your options. In New York, the state's Health...

What does a living trust do?

Most Americans are familiar with what a will does, but living trusts are far more opaque. The reality is that the most comprehensive estate plans often involve both a will and a trust, if not several different trusts.  Living trusts can provide a lot of flexibility in...

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