Misconceptions About Power of Attorney
In New York, the power of attorney is an important document, to say the least. It has far-reaching consequences which it is why it is crucial to understand the misconceptions about this document. Generally speaking, my powers of attorney (POAs) that are executed in New York are “durable’, which means that they take effect immediately Read on…
How Does An IRA Fit Into My Estate Planning?
Most IRAs, whether traditional or Roth IRAs, play a key role in estate planning. As long as an IRA has a named beneficiary, when the account holder passes away, the beneficiary will receive the proceeds of the IRA by operation of law. All that would need to be provided to the financial institution where the Read on…
If I Don’t Have An Estate, Do I Really Need An Estate Plan?
The question often arises as to whether an estate plan is necessary if you don’t believe you have an estate. The fact is that most people, whether they realize it or not, actually do have an estate. Real property aside, you may have checking accounts, savings accounts, IRA, pensions, or other financial accounts that may Read on…