Estate Planning

On Behalf of Marcus, Gould & Sussman, LLP | Jun 6, 2025 | Estate Planning | Receiving a terminal diagnosis is a virtually indescribable turn of events. If you have recently received a terminal diagnosis, you are almost certainly grieving and shouldering a host of other kinds of emotional weight. Unfortunately, there are tasks that you may have been putting off until now that can no longer wait as a result of your circumstances. Estate planning is one of them.

On Behalf of Marcus, Gould & Sussman, LLP | Jun 6, 2025 | Estate Planning | As more of life happens online, your digital presence becomes a meaningful part of your legacy. From banking apps and cloud storage to social media and cryptocurrency, the assets you control digitally need the same care and planning as your physical belongings. Creating a digital estate plan does not have to be complicated, but it does require intentional steps. 1. Take inventory and organize your digital accounts The first step is to identify all your digital assets.

On Behalf of Marcus, Gould & Sussman, LLP | Jun 6, 2025 | Estate Planning | Many people forget that they have an estate plan. As a result, several years may pass without any changes to a will or other legal documents. This can cause a testator’s (the person who makes a will) last wishes to become outdated. If the testator passes away without making necessary changes to their estate plan, then family members may face conflicts, taxes and other legal issues. There are times when a testator may want to consider updating their estate plan. Here are some. 1.

On Behalf of Marcus, Gould & Sussman, LLP | Jun 6, 2025 | Estate Planning | Choosing an executor for your estate is a significant decision. The person you select will assume responsibility for handling your financial, legal, and personal matters after your passing. Careful consideration of a few key factors can help ensure the choice is appropriate. Understand the role of an executor An executor manages your estate by paying debts, distributing assets, and ensuring your will is carried out as intended.

On Behalf of Marcus, Gould & Sussman, LLP | Apr 10, 2025 | Estate Planning | A power of attorney (POA) is n essential legal document that allows one person to appoint another to handle specific financial and legal matters on their behalf. You may need a POA to ensure others respect your wishes if you can’t make decisions for yourself. It’s important to understand the different types of POA and how they can protect you in various situations. Understanding the power of attorney A POA is a written authorization that gives someone the ability to act for you.

On Behalf of Marcus, Gould & Sussman, LLP | Mar 7, 2025 | Estate Planning | Of course, medical emergencies happen without warning. While no one likes to think about these situations, you can take control by deciding who will speak for you during a health crisis. What is a healthcare proxy? A healthcare proxy lets you pick someone to make medical choices for you when you can’t speak for yourself. In New York, this legal document gives your chosen person the power to work with doctors and make decisions based on what you would want.

On Behalf of Marcus, Gould & Sussman, LLP | Oct 8, 2024 | Estate Planning | If you are part of a blended family, you know that love and commitment can create strong bonds. However, these families face unique challenges when it comes to estate planning. Understanding why estate planning is crucial for blended families and how it can benefit you and your loved ones is essential. Why estate planning matters for blended families Blended families often have complex relationships and financial situations. Without proper planning, asset distribution may not be as you intend after passing.

On Behalf of Marcus, Gould & Sussman, LLP | Oct 21, 2024 | Estate Planning | The passing of a loved one is already an emotionally challenging time, and the responsibility of being an executor of their estate can feel like an additional weight on your shoulders. You might be worried about making mistakes, unsure of where to start or concerned about fulfilling your loved one’s final wishes correctly.

On Behalf of Marcus, Gould & Sussman, LLP | Aug 30, 2024 | Estate Planning | Losing someone you love is difficult, and dealing with their estate can make it even harder. As a beneficiary, you hope their will shows what your loved one truly wanted after they passed away, making sure their things go to the right people. However, some people might lie or use pressure to change the will. This can cause fights and might even make the will invalid.

On Behalf of Marcus, Gould & Sussman, LLP | Jul 31, 2024 | Estate Planning | Life moves fast, and your estate plan should keep up. Think about all the changes you’ve seen in the last few years – marriages, divorces, new babies or even a big move. Each of these events can shake up your carefully laid plans. We’re here to guide you on when to update your estate plan, ensuring you stay on top of these crucial details. Read on to discover the critical signs that it’s time to revisit your will, trusts and other important papers.