When people think about estate planning, their minds often go straight to retirees or parents of young children. Rarely does the average college student cross their mind. After all, most students are just starting out in life, not planning for the end of it. But here’s the truth: once your child turns 18, they are legally an adult. That means parents no longer have the automatic right to make decisions for them, access their medical records, or manage their affairs in an emergency. For college students, having basic legal documents in place isn’t just a “someday” task—it’s a safeguard for their independence, health, and financial well-being right now. The Turning Point at Age 18 At 18, the law views a young adult as fully responsible for their own affairs. While that independence is exciting, it also means: Parents lose automatic authority. Mom and Dad can’t simply call the doctor or
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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... →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
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Perhaps you have heard about trusts but wonder exactly what they are and what they can help you accomplish. Simply put, a trust is an agreement outlining how assets will be managed and held for the benefit of another person. There are many types of trusts, capable of addressing a wide range of concerns and accomplishing a number of important goals. Let’s begin our discussion by looking at the elements and terminology shared by most trusts. The Grantor All trusts have a grantor (also known as a trustor or settler). The grantor is the person who creates the trust and has the legal authority to transfer property held in the trust. The Beneficiary The beneficiary is the person who “benefits” from the trust. A beneficiary can be one person or a number of different parties. A beneficiary can also be an institution, such as a charity. The Trustee The trustee
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The Health Insurance Portability and Accountability Act (HIPAA) established national standards to protect the privacy of personal medical information. The HIPAA Privacy Rule sets limits and conditions on the way such information can be used and disclosed in the absence of patient authorization. The rule also provides patients with additional rights regarding their medical information, including the right to examine and obtain a copy of their health records and to request corrections to these records. Most of us would agree that our medical information should be kept private. However, HIPAA is an example of a well-intentioned law that has led to unintended consequences and potential problems for patients and their families. Why? The penalties associated with violating HIPAA—which include civil fines, criminal penalties, and even imprisonment—often make health care providers extremely cautious about sharing medical information with anyone other than their patient. This can include spouses, children, and other close
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