FEATURES & NEWS

Mistakes to Avoid When Estate Planning
Estate Planning

Mistakes to avoid when estate planning

Estate planning is a crucial step in securing your family’s future and ensuring that your assets are distributed according to your wishes. However, many individuals

Read More »
Alternatives to probate
Estate Planning

Alternatives to probate

Exploring Alternatives to Probate in New York Probate is a court-supervised process that validates a will, settles debts, and distributes the assets of a deceased

Read More »
How to Protect Your Assets
Estate Planning Law

How to Protect Your Assets in New York

In today’s economic climate, protecting your assets is not just about saving money—it’s about strategic planning to ensure financial stability and security for the future.

Read More »
All About Revocable Trust in New York
Estate Planning

Revocable Trust New York

All About Revocable Trusts in New York To ensure your assets are managed and distributed according to your wishes, estate planning is essential. One of

Read More »
Probate is the process of validating a will in a court of law, and settling all financial and estate affairs of a deceased person after their death.
Estate Planning

Probate New York Attorneys

Probate New York Attorneys Probate can be one of the most complex and stressful aspects of estate administration. It involves the legal process of validating

Read More »
Estate Planning as a DIY Challenge - Morgan Legal Group
Estate Planning

Estate planning as a DIY challenge

Estate Planning as a DIY Challenge In an era where information is more accessible than ever, many individuals feel empowered to take on challenges that

Read More »
Experienced Probate Property Attorney in New York - Morgan Legal Group
Estate Planning

Probate property attorney

Understanding the Role of a Probate Property Attorney in New York The probate process is a legal procedure that occurs after someone passes away, involving

Read More »
Major Reasons for Guardianship in New York
Estate Planning

Major reasons for guardianship

Major Reasons for Guardianship in New York Guardianship is a legal process in which a court appoints an individual, known as a guardian, to make

Read More »
Will an Attorney in New York
Estate Planning

Will Attorney New York

Will an Attorney in New York: Protecting Your Future Creating a will is one of the most important steps to plan for your future and

Read More »
Guardianship in New York
Estate Planning

Guardianship in New York

Guardianship in New York: Understanding the Process and Importance In New York, the guardianship process is a legal mechanism designed to protect those who are

Read More »
Understanding the Probate Process in New York
Estate Planning

Probate New York Lawyer

The Probate Process in New York: A Comprehensive Guide The probate process is often a challenging time for families as they cope with the loss

Read More »
Comprehensive Medicaid Trust Planning in New York
Estate Planning

Medicaid Trust New York

Probate Lawyers in NYC: Guiding You Through the Probate Process The probate process can be complex and overwhelming, particularly during a time of grief. At

Read More »
Experienced Probate Lawyers in NYC
Estate Planning

Probate Lawyers NYC

Probate Lawyers in NYC: Guiding You Through the Probate Process The probate process can be complex and overwhelming, particularly during a time of grief. At

Read More »

Abraham Lincoln’s Estate Plan?

In his underlying recording to the court, Lincoln’s home was accepted to be valued at thousands of dollars that would be split among his wife and two children alive. That aggregate would be worth two or three million dollars in the present, despite the fact that it’s difficult to say precisely.

It’s extremely astonishing for some that Abraham Lincoln, a regarded attorney as well as perhaps the best president ever, never invested in some opportunity to make out a will, even by his age. However, it’s more typical than the vast majority to figure it out. He was in his prime time and needed more important matters to be taken care of rather than himself.

Also, very much like in Lincoln’s time, the enduring mate doesn’t acquire everything when somebody passes without a will. While laws vary from one state to another, in many states, the bequest is parted between the kids and wife. Many individuals erroneously expect assuming they pass, their mates will naturally acquire everything.

It’s far more detestable when families battle about the home. In addition, domains without any wills can be extra muddled and in some cases, more chaotic. Only one out of every odd family has a Supreme Court Justice able to step in and help. Fortunately, appropriate bequest arranging, including a revocable living trust probate court can be kept away from completely.

FAQ

1. If my spouse dies, do I get his social security and mine?

Yes, according to the surviving spouse law, you’re able to collect all funds from his or her social security onto yours.

2.  What is a pour-over will?

A pour-over Will is a Will written document stating the actions needed to be done through the trustee, which will be transferred to him or her. The truster is responsible for many assets to be taken care of or sent to assigned beneficiaries.

3. Who qualifies for Medicaid in NY?

Women who are pregnant or those with children over 18, seniors, and those with disabilities. Disabilities such as blindness, deafness, etc., or physical injury are also eligible for Medicaid.

4. What is elder law?

Elder law handles long-term care, including future medical care, special needs care for those who are handicapped or mentally disabled, and estate planning for ages over 50. This type of law also handles cases of elder abuse as long as there’s evidence of these sorts of cases. Elder abuse can come from members of the family, and the elder can approach a lawyer to report this sort of behavior to prevent manipulation of your estate plan.

5. Does transfer on death avoid probate?

The transfer of death only makes the probate process much more difficult by having you provide additional details and reasons for the transfer. This makes the process longer, and if it’s longer, it’ll be more expensive. The only way to avoid probate is through a trust because everything would be set up or planned ahead, especially the transfer of death.

6.   Are living trusts revocable or irrevocable?

A living trust can be both, but with an irrevocable trust, you cannot change anything that’s been documented unless you discuss the changes with all beneficiaries and the court.

7. If my spouse dies, do I get his social security and mine?

Because of the laws of Estate Planning, there’s something labeled the surviving spouse clause, where if one spouse dies, the surviving spouse gets his or her assets. The only assets not provided would be government funds that the spouse still owes or would lose the entire thing because of labeled ownership unless there’s a Will stating rights to owning these finances.

8. Why do I need an elder law attorney?

The only reason you should have an elder law attorney is to have a lawyer to care for cases that are related to future needs leading to promising medical care that can protect yourself and your assets, including your estate. An elder law attorney can also protect you from elder abuse that you can report to your lawyer and court.

9. What happens if you die intestate?

Who’s ever married to you or related to you by blood gets your inheritance through the surviving spouse gets it all unless the Will or trust says differently.

10. How long can you receive unemployment in NY?

In NY, you can collect unemployment for 26 weeks, but with the pandemic happening, it can go as long as this draws out.

Most Popular: