Mirror wills allow married couples to create separate wills with matching or nearly matching terms. In Florida, they are often used when spouses want to leave assets to each other first, then pass remaining property to children or other beneficiaries after both spouses have died.
What Is a...Benefits of Revocable Living Trusts for Snowbirds
A revocable living trust helps snowbirds manage their assets across New York and Florida without relying on multiple probate proceedings. It allows your plan to stay consistent even when your life is split between two states.
When you spend part of the year in each state, your estate plan...
Key Considerations When Choosing a Trustee
When you’re preparing an estate plan or starting a Medicaid trust, one of the most important decisions you have to make concerns your selection of a trustee. The trustee has the legal authority to manage a trust and its assets. A trustee is also responsible for managing and distributing trust assets to...
SOME TIPS ON GETTING YOUR AFFAIRS IN ORDER
There are a number of relatively easy steps which can be taken in order to simplify your estate plan, thus saving time and money for you and your family.
It is not uncommon...
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The Dangers of Doing a Life Estate Deed
Clients are often interested in doing a life estate deed as part of their estate plan. What is a life estate deed? It is one where the owner of the real property transfers the property to his or her children (or other family members), reserving the right to reside in...
REVOCABLE & IRREVOCABLE TRUSTS: A COMPARISON
Clients often ask to have a trust prepared, not knowing the differences between a revocable trust and an irrevocable trust. One of the most important questions to ask oneself when undertaking trust planning is what your goals are. Are they to avoid probate, to protect assets from creditors, or to...
Reasons to Avoid Probate in Florida
If you fail to create an estate plan, your assets will likely have to go through the probate process after you pass away. Probate is a court-supervised process by which your assets are distributed to your heir and creditors. Unfortunately, probate has many downsides, which leads many people to take steps to...
Should Your Home Be Placed In A Trust
SHOULD YOUR HOME BE PLACED IN A TRUST
Clients often ask if it makes sense to put their home(s) in a trust. Since there are a few types of trusts which are appropriate for a home, the decision of which type is best...
Estate Planning for Florida Snowbirds
With winter in full swing, snowbirds are flocking to Florida to escape the frigid northern temperatures. Moving south for the winter requires a lot of preparation. However, one preparatory step that many snowbirds fail to consider is estate planning. As a snowbird, living in more than one state during the year can...
Why Do You Need a Will?
If you live in Garden City or the surrounding areas of Nassau County, having a valid will isn’t just a good idea—it’s one of the most important steps you can take to protect your family and your assets. At the Law Office of Angela Siegel, we help individuals and families throughout...