Choosing who will inherit your assets is one of the most important- and often most emotional- decisions in creating an estate plan. For many, it feels natural to name multiple beneficiaries: children, grandchildren, friends, or even charities. Your estate is more than money or property- it’s a reflection of your life’s work, relationships, and values. While naming multiple beneficiaries may seem simple, it can carry both advantages and challenges. Without clear instructions, dividing assets among heirs can lead to confusion, delays, or disputes. But with thoughtful planning, it can ensure your legacy is honored the way you intend. This blog reviews the pros and cons of naming multiple beneficiaries, along with examples, best practices, and answers to common questions. Glossary of Key Estate Planning Terms We’ve added a Glossary of Key Estate Planning Terms to help make the process clearer and less overwhelming. Estate planning often involves legal and
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August is National Make-A-Will Month: the perfect time to focus on one of the most important steps you can take for your family’s future. Despite how essential wills are, many Americans put them off. In fact, a 2024 Caring.com survey found that only 32% of adults in the U.S. have a will or other estate planning document. Part of the hesitation comes from common myths and misconceptions about wills. These misunderstandings can leave families vulnerable to unnecessary conflict, financial stress, and court involvement. At Estate Planning Law Center, we’ve guided countless families through the estate planning process in New York and beyond. In this article, we’ll debunk the most widespread myths about wills—so you can make informed decisions during Make-A-Will Month and beyond. Myth #1: “I Don’t Need a Will If I Don’t Have a Lot of Assets” Many people think estate planning is only for the wealthy. In
Continue Reading... →Creating a will is about more than just distributing assets. It’s about protecting your loved ones, expressing your wishes clearly, and staying in control of your future, no matter what. At the Estate Planning Law Center, we help New Yorkers craft legally sound, deeply personal estate plans that reflect what truly matters to them. Whether you’re just starting your journey or updating an existing plan, this guide will help you understand how to make sure your will stands strong and your wishes are honored. TDLR (Too Long, Didn’t Read) A valid will in New York must follow specific legal requirements to be enforceable Without a will, the state decides who inherits your assets under intestacy laws Customizing your will allows you to choose guardians, distribute property, and support causes you care about Regular updates and proper asset alignment ensure your will reflects your current wishes Working with an experienced estate
Continue Reading... →It’s August, which means it’s National Make-A-Will Month. And while that may not sound like something to celebrate, it’s a powerful reminder that your future, and your family’s peace of mind, deserve attention. At the Estate Planning Law Center, we’ve helped families across Central and Upstate New York take the simple yet life-changing step of creating a will. And we’ve seen firsthand what happens when people don’t. If you’ve been putting it off, you’re not alone. But here are five very real, very human reasons why this August is the right time to get it done. We’ve also included how to make that first step simple and stress-free by attending a free workshop. 1. Life Happens, Ready or Not We recently worked with the Murphy family in Oneida. When John passed away unexpectedly at 52, he didn’t have a will in place. His wife, Amy, was devastated and suddenly stuck navigating
Continue Reading... →Every August, National Make-A-Will Month rolls around and while it may not come with balloons or fireworks, it’s one of the most important times of the year to take a step back, plan ahead, and protect the people and assets that matter most to you. At the Estate Planning Law Center, we use this month as an opportunity to raise awareness about the importance of creating a will and to help families across New York and beyond take control of their future. Whether you’re 28 or 88, single or married, a parent or pet owner, everyone benefits from having a will. Here’s why it matters, and why August is the perfect time to get started. What Is a Will, Really? A Last Will and Testament is a legally binding document that outlines your wishes after your death. This includes: Who receives your assets Who will care for your minor children
Continue Reading... →You’ve had the hard talks with your kids. About school, safety, and growing up. Now, it’s time for another kind of hard talk… with your parents. Talking about wills, health care, or where your parents want to live if they can’t live at home anymore, it’s awkward. You might worry about upsetting them or sounding like you’re trying to take over. But here’s the truth: not talking about it doesn’t make the need go away. It just pushes the problem down the road, until you’re forced to deal with it during a crisis. If you’re raising children and also supporting aging parents, you’re part of what’s called the Sandwich Generation. July is Sandwich Generation Month — a time to recognize people like you who are juggling two generations of care. It’s also the perfect time to start the conversations that really matter — before life makes the decision for you.
Continue Reading... →Senate Passes “One Big Beautiful Bill”: What It Means for Your Long-Term Care Plans At Estate Planning Law Center, we understand that keeping up with Medicaid legislation isn’t just for policymakers, it’s for families. If you’re caring for an aging loved one or planning ahead to protect your own legacy, what happens in Washington directly affects your peace of mind. This week, we’re focusing on major developments that could change the way long-term care Medicaid works for millions of Americans including right here in New York. What Happened? On July 1, 2025, the U.S. Senate narrowly passed President Trump’s “One Big Beautiful Bill,” a sweeping package of healthcare and Medicaid-related reforms. The vote was split 50–50, with Vice President Vance casting the deciding vote. This amended version of the bill now returns to the House of Representatives, where final negotiations will take place. But if passed, these changes will impact
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Here’s what you need to know now. The landscape of estate planning may shift dramatically if the GOP’s new tax bill, dubbed the “One Big Beautiful Bill Act,”—makes it through Congress. The proposed legislation includes permanent increases to the federal estate and gift tax exemption and adjustments to the Alternative Minimum Tax (AMT), both of which could reshape how families structure their estate plans moving forward. A Quick Refresher: What’s at Stake? Under current law, the federal estate tax exemption is set at $13.99 million per person (or $27.98 million for married couples). These generous limits stem from the 2017 Tax Cuts and Jobs Act (TCJA) and are scheduled to sunset at the end of 2025, halving the exemption back to around $7 million per person unless new legislation intervenes. The GOP proposal doesn’t just aim to extend the TCJA limits—it goes further: Proposed New Exemption: $15 million for single
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At the Estate Planning Law Center, we believe estate planning isn’t just about preparing for what happens after you’re gone—it’s about making confident, coordinated decisions during your lifetime that protect your family, simplify your estate, and secure your legacy. That’s why financial planning and estate planning go hand in hand. To make your estate plan truly work, you need the right team—and that often includes a financial advisor who can partner with us to align your investments, retirement strategies, tax goals, and long-term wishes. But with over 300,000 financial advisors in the U.S., how do you choose the right one? Here’s what to look for when building a financial team that supports your estate planning goals—and helps you stay in control of what you’ve worked so hard to build. Do They Offer Services That Support Your Estate Plan? Not every financial advisor has the tools to integrate with your estate
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Let’s be real—being in your 40s or 50s isn’t exactly the breezy midlife cruise you imagined, right? You’re raising kids, checking homework, managing work stress, and somewhere in between, helping your aging parents navigate doctor visits, medications, and financial uncertainty. Welcome to the sandwich generation—that not-so-exclusive club of adults caught between two generations who need you, often at the exact same time. And while you’re juggling all of that, here’s a thought that might feel like one more thing—but hear us out: estate planning matters. Not just for your parents, but for you, your kids, and maybe even your grandkids someday. At the Estate Planning Law Center, we help families like yours get ahead of the overwhelm and start conversations before things get messy. Because if you wait for a crisis, chances are it’s already too late to plan calmly. When’s the Right Time to Talk? (Spoiler: It’s Now.) You
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