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Category Archives: Trust and Estates

Will6

How to Disinherit a Loved One

By Meyer & Spencer, P.C. |

Estate planning is an interesting area of the law.  Estate planning is a very personal need for the individuals who engage in the process.  However, the legal system has reduced this really personal process to a technical exercise.  This is also true for will writing and it is evident in situations where testators want… Read More »

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EstatePlanning2

Trusts for Low Income, Disabled and Special Needs Individuals

By Meyer & Spencer, P.C. |

One of the trickiest aspects of leaving property and assets to friends and family members on your death is considering the implications that flow from leaving the gift.  Unfortunately, these implications are often overlooked by the person making the gift (especially those not assisted by attorneys) before their death.  Tax implications are one of… Read More »

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Document

Life Estate As An Estate Planning Tool

By Meyer & Spencer, P.C. |

Planning for the distribution of assets after death is often about making plans to take care of other people. This may mean balancing the needs of various beneficiaries and making plans that may grant gifts to multiple beneficiaries at different times. For example, imagine a testator wants to leave his home to his long-term… Read More »

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Planning

Establishing a Trust for Estate Planning Purposes

By Meyer & Spencer, P.C. |

The use of trusts to pass on property is generally encouraged as a way to avoid the costly and time consuming probate process. If a person can put together a well thought out estate plan, he or she can pass on most if not all his property through the use of trusts. There are… Read More »

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EstatePlan6

Can My Spouse Disinherit Me Under New York Law?

By Meyer & Spencer, P.C. |

In New York, a spouse cannot entirely be disinherited by his or her spouse. Even in situations where a person makes an express provision in a will that his spouse is not to inherit his property, the surviving spouse is allowed to make an elective share of the deceased person’s estate. Note that when… Read More »

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EstatePlanning2

Can My Spouse Disinherit Me Under New York Law?

By Meyer & Spencer, P.C. |

In New York, a spouse cannot entirely be disinherited by his or her spouse. Even in situations where a person makes an express provision in a will that his spouse is not to inherit his property, the surviving spouse is allowed to make an elective share of the deceased person’s estate. Note that when… Read More »

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EstatePlan5

Totten Trusts

By Meyer & Spencer, P.C. |

One way in which a person can pass on money held in bank accounts or brokerage accounts to his heirs is through the use of Totten trusts, also referred to as payable upon death accounts. A Totten trust is created when a person who owns a bank account names a beneficiary who will receive… Read More »

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WillDocument

Executing A Will In New York

By Meyer & Spencer, P.C. |

There are different types of wills that a person can use in order to leave his assets to his heirs. The type of will a person chooses has to be legally valid in order to ensure that it will be honored when the person passes away. While New York allows the use of written… Read More »

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Legal Documents for Your College-Age Student

By Meyer & Spencer, P.C. |

Parents, you need to think about having an attorney prepare two simple legal documents for your college-age student. One is a Power of Attorney. The other is a Health Care Proxy. These documents can be invaluable if your child has a medical emergency. We have all heard of cases where a college student gets… Read More »

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When Should I Consider A Life Insurance Trust?

By Meyer & Spencer, P.C. |

A life insurance trust is a great way to avoid estate taxes on the proceeds from your life insurance policy. For most people, their life insurance proceeds will be included in their gross taxable estate when they die. The general rule is that life insurance proceeds will be included in the gross taxable estate… Read More »

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