As the year winds down and families begin planning for the holidays, many people start to reflect on what they’ve accomplished and what still needs to be completed. While estate planning probably isn’t the first thing on most people’s holiday to-do lists, it should be something that gets a second look before the new year arrives. At Estate Planning Law Center, this is the time of year when we hear a lot of questions, assumptions, and myths about estate planning. Some are understandable, many are common and a few can cause catastrophic problems if left unaddressed. So today, we’re tackling the five biggest misconceptions we hear around this time of year and what the truth really is. Misconception #1: “Estate planning is only for the wealthy.” This is the most common myth we hear, especially around the holidays, when people feel their finances are stretched thin or they’re comparing themselves
Continue Reading... →Posts Tagged Family
As the days get shorter and the air turns crisp, Thanksgiving offers a welcome pause from the fast pace of everyday life. It’s a moment filled with gratitude, family traditions, and warm memories – plus a table full of good food. But it’s also one of the few times of year when multiple generations sit together under one roof, making it a surprisingly ideal moment to start meaningful conversations about the future. While estate planning isn’t typically seen as a “holiday” topic, it can actually be one of the most important and loving discussions a family can have. When approached with care, talking about your estate plan, your legacy, or your hopes for the future can strengthen family relationships, prevent confusion later on, and give everyone peace of mind. If you’ve ever wondered when to bring up topics like wills, trusts, or long-term care planning, Thanksgiving may be the perfect
Continue Reading... →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
Continue Reading... →As the end of the year approaches, New Hartford families are busy checking off to-do lists and preparing for the winter ahead. While holiday shopping and snow shoveling might top your list, don’t forget about one of the most important tasks: reviewing your estate plan. At The Estate Planning Law Center, we encourage you to use this time to ensure your plan is ready for the year ahead. One of our clients, Mike, came to us last December with a simple goal: to ensure his family wouldn’t face uncertainty if something unexpected happened. Together, we updated his will, set up a trust for his grandchildren, and reviewed his healthcare directives. Mike said it felt like “checking off the biggest box of all.” How to Prepare Your Estate Plan for the New Year: Review Your Core Documents Make sure your will, trusts, and powers of attorney reflect your current life circumstances.
Continue Reading... →