Maria had always admired her grandmother’s quilt, but it wasn’t until she inherited it that she truly understood its significance. Inside the folds of fabric, she found a handwritten note detailing the stories behind each square. One square was from her great-grandfather’s army uniform; another was made from her grandmother’s wedding dress. The quilt wasn’t just an heirloom—it was a family history, stitched together with love. At The Estate Planning Law Center, we believe estate planning isn’t just about passing down assets. It’s about preserving your family’s identity and values. Legacy planning ensures the stories, traditions, and lessons that define your family endure for generations. Maria’s story highlights how small acts of preservation can have a lasting impact. She began recording her family’s stories, sitting down with relatives to capture moments that shaped their history. With time, she created a treasure trove of memories—stories about resilience, love, and the values
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When Tom passed away, his family quickly learned that his will wasn’t enough. What followed was a year of probate—an emotionally and financially draining process that left his children bitter and fractured. Despite Tom’s best intentions, court fees piled up, disputes over sentimental items escalated, and cherished family memories were overshadowed by resentment. Probate is a court-supervised process designed to settle an estate, but for many families, it feels more like a punishment. It’s public, lengthy, and expensive, with fees in New York State often eating up anywhere from 5%-20% of the estate’s value. For Tom’s family, it was a stark reminder that a will alone isn’t enough to prevent complications. Contrast this with Sarah’s story. Sarah had taken a proactive approach by working with The Estate Planning Law Center to create a revocable living trust. When Sarah passed, her assets bypassed probate entirely. Her successor trustee handled everything seamlessly—distributing
Continue Reading... →Estate planning isn’t just about dividing assets—it’s about creating a legacy that reflects your values and priorities. At The Estate Planning Law Center, we believe your estate plan should grow and evolve as your life does. Take Lisa, for example. When she first created her estate plan 25 years ago, her main focus was naming guardians for her children and splitting assets equally. But now, her life looks very different. She’s a grandmother, has grown her investments, and wants to support causes she cares deeply about. When Lisa came to The Estate Planning Law Center, we worked with her to update her plan. Together, we: Created a trust for her grandchildren to fund their education. Designed a charitable giving plan to honor her passion for environmental conservation. Developed a business succession plan to ensure her family business would continue to thrive. Your estate plan is a reflection of your life.
Continue Reading... →When most people hear the term “estate planning,” they think it’s only for the wealthy or the elderly. But at The Estate Planning Law Center, we know that estate planning is for everyone, no matter their age or financial status. Unfortunately, there are several myths that keep people from taking action—and today, we’re here to debunk them. Let’s address some of the most common myths about estate planning: Myth 1: Estate planning is only for the wealthy. Many people believe that if they don’t have a large estate, they don’t need an estate plan. This couldn’t be further from the truth. Estate planning is about making sure your wishes are honored, and your loved ones are cared for, regardless of how much money or property you have. Myth 2: I’m too young to worry about estate planning Estate planning isn’t just for retirees. In fact, if you have children, own
Continue Reading... →For many people, the end of the year is a whirlwind of family gatherings, holiday parties, and last-minute to-dos. It’s a joyful but hectic time, where estate planning often takes a backseat to more immediate concerns. But here’s the thing: November is the perfect time to take care of your estate plan before the holiday chaos begins. Imagine this: It’s December, and you’re rushing around buying gifts, making travel plans, and preparing for family visits. The last thing on your mind is estate planning, but then it hits you—what if something unexpected happens during this busy time? Is your family prepared? Are your wishes documented? That’s why The Estate Planning Law Center encourages you to plan now, in November, when life is a little calmer. By the time the holidays roll around, you’ll have the peace of mind knowing your estate plan is complete and your family is protected. Let’s
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In this post, we’ll continue our discussion of why everyone needs an estate plan. Loss of Control Losing control over how your assets are distributed after death isn’t the only negative consequence of failing to plan. You and your family may suffer physically, financially and emotionally while you are still alive. For example, a properly designed and implemented plan allows you to name people you trust to make medical and/or financial decisions on your behalf if you become incapacitated. Without a plan, someone will petition the court for the right to make these important decisions for you. The court could very well decide to choose a person or persons you would never have wanted to have such authority. The result? You may not receive the level of medical care you would have wanted. Conversely, you might be subjected to medical procedures you would not have wanted to keep you alive
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We often discuss the benefits of estate planning. However, a discussion of what can happen when a person fails to plan is perhaps a more powerful way to stress the importance of proper planning. Let’s look at a few potential consequences of not having a plan of your own. If a person passes away without a will or trust, his or her estate assets are distributed according to what is known as intestate succession. It is important to note that certain assets are not subject to intestate succession laws. These can include funds in an IRA, 401(k) or other retirement account; property owned in joint tenancy or tenancy by the entirety; proceeds from life insurance policies; payable-on-death bank accounts; and securities in a transfer-on-death account. Most other assets are transferred according to intestate succession. As a result, “who gets what” follows a strict formula, with no regard to the actual
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