An Annual Checkup You Really Can Do For Yourself
If you have made a will or trust—good for you! But, if it is outdated, it may cause a lot of headaches down the road. Here’s a quick way to assess potential updates needed. Time…
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Confused? Learn the Difference Between Heirs and Beneficiaries
In conversation, the words “heir” and “beneficiary” are commonly used synonymously. Legally, they are not! Read on to understand the difference. If There’s A Will, There’s A… Plan for beneficiaries! In other words, in a…
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Guardians and Vaccine Decisions
How should court-appointed guardians handle decisions about the COVID-19 vaccine with their wards? Experts advise: apply the substituted judgment standard. Focus On The Ward’s Wishes and Values Carefully and respectfully making important decisions on behalf…
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What’s a Trustee To Do: Facing Volatile Markets
A trustee must follow the prudent investor rule in managing the assets of a trust. Keep in mind: this is a process-based standard—not a performance-based one. Investing Trust Assets Volatile markets present unique challenges to…
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Protecting the Vulnerable: Fiduciary Duties and Bonds Explained
Protecting the Vulnerable: Fiduciary Duties and Bonds Explained When someone cannot make sound decisions for themselves, a court can appoint a fiduciary to do so. Often, courts require fiduciary bonds to protect “the ward.” Safeguarding…
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Duty-Bound to Beneficiaries: Insights for Executors and Trustees
What happens when an estate or trust plan has been set up to continue the operations of a business beyond the owner’s death—but the business ultimately does not provide value to the beneficiaries? Prioritizing the…
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Consider a Trust for Beneficiaries with Special Needs
Estate planning is a daunting challenge in families. It is even harder for families of a loved one with a disability. Arranging for a trust, trustee and trustee bond may be useful—and reassuring. Start With…
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What You Need to Know About New York Surrogate’s Court Bonds
Individuals chosen to be fiduciaries, administrators, and executors within the Empire State are typically required to post a surety bond. Surrogate’s courts require fiduciaries to obtain such a bond to safeguard the interests and affairs of the…
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Long Island Courts Begin Phased-in Opening Process
On Tuesday, May 26, courts across Long Island resumed operations for the first time since the COVID-19 shutdown. Starting on Wednesday, May 27th, counties like Dutchess, Putnam, Rockland, Orange, and Westchester enacted a gradual phased-in…
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