Summit Estate Planning Group

What Assets Does a Will Control?: What assets does a will control? A will controls the assets that make up your probate estate: property held in your name alone, without a beneficiary designation or joint owner. Everything else, including retirement accounts, life insurance, jointly held real estate, and assets held in a trust, transfers through separate legal mechanisms that operate entirely […]

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What Assets Does a Will Control? What assets does a will control? A will controls the assets that are in your sole personal possession when you die.

Health Care Proxy vs. Living Will: What’s the Difference?: When most people think about estate planning, they focus on what happens to their assets after they are gone. Wills, trusts, and beneficiary designations all play an important role in that process. But a complete estate plan also addresses something equally important: what happens if you are still alive but unable to make decisions for […]

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Health Care Proxy vs. Living Will: What's the Difference? Two documents are essential to that kind of incapacity planning: a medical power of attorney or health care proxy and a living will.

How to Avoid Family Conflict With Your Estate Plan: How do you avoid family conflict with your estate plan? Clear documents help, but the deeper issue is how your plan handles the emotional, financial, and relational pressures that surface when someone becomes incapacitated or passes away. Staten Island families often discover that conflict doesn’t arise from the size of the estate—it arises from uncertainty, […]

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How to Avoid Family Conflict With Your Estate Plan How do you avoid family conflict with your estate plan? Clear documents help, and in many cases, honest communication can go a long way.

Is a Handwritten Will Valid in New York?: Here’s a fairly common, straightforward estate planning question: Is a handwritten will valid in New York? The short answer is no; a handwritten will is not valid in New York. New York law requires specific formalities for a will to be recognized. The document must be signed properly and witnessed in a particular way. A […]

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Is a Handwritten Will Valid in New York? Is a handwritten will valid in New York? The short answer is no; a handwritten will is not valid in New York.

Crypto, NFTs, and More: Digital Estate Planning in the Age of Virtual Wealth: Estate planning has always been about protecting your home, your savings, and your legacy. But in today’s digital world, wealth isn’t just physical. It’s virtual. From cryptocurrency wallets to NFT collections and social media accounts, your digital assets are part of your estate. If you live in Staten Island or anywhere in New York, it’s […]

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Digital Estate Planning in the Age of Virtual Wealth Without proper digital estate planning, your online assets can become digital ghosts, essentially locked away, inaccessible, or lost forever.

Generational Wealth Transfers: Planning for the Future: Most people think about estate planning as a way to pass wealth down the line. That step matters, but how you structure the transfer makes a difference. A thoughtful approach to generational wealth transfers can reduce taxes, avoid disputes, and help your heirs benefit over the long term. Setting Goals for Wealth Transfer Before choosing […]

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Generational Wealth Transfers: Planning for the Future A thoughtful approach to generational wealth transfers can reduce taxes, avoid disputes, and help your heirs benefit over the long term.

Avoid These Common Estate Planning Mistakes: Through estate planning, you decide how your property is passed on and who speaks for you if you cannot. Even so, people often make mistakes that cause disputes or leave heirs without protection. By learning about the estate planning mistakes made by others, you can keep your plan strong and effective. Not Having a Plan […]

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Avoid These Common Estate Planning Mistakes By learning about the estate planning mistakes made by others, you can keep your plan strong and effective.

Personalized Estate Planning Is Key: Many people think estate planning is as simple as filling out a will they find online. The truth is that estate planning is not a one-size-fits-all process. Each family is unique, and so are the tools needed to protect assets, preserve family harmony, and make sure wishes are carried out. A personalized estate planning approach […]

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Personalized Estate Planning Is Key A personalized estate planning approach is the only way to build a plan that truly works for your life situation.

Military Service and Estate Planning: What You Need to Know: Serving in the military often means living with uncertainty. Whether you are deployed overseas, stationed at a base far from home, or preparing to transition into civilian life, your family’s security is always on your mind. Estate planning allows you to take control of important decisions and protect your loved ones in the event of […]

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Military Service and Estate Planning: What You Need to Know Military service and estate planning: Early action allows you to take control of important decisions and protect your loved ones.

Is There Any Way to Change an Irrevocable Trust?: When someone creates an irrevocable trust, they give up control. The terms are locked in, the assets no longer belong to them, and the trust is meant to operate according to its original instructions. That’s the entire point. But what happens if something needs to change after the grantor has passed away? The law does […]

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Is There Any Way to Change an Irrevocable Trust? The law does allow a trustee to change an irrevocable trust under specific circumstances, and we explain the possibilities here.