Four Provisions People Forget to Include in Their Estate Plan
Even if you've created an estate plan, are you sure you included everything you need to? There are certain provisions that people often forget to put in in a will or estate plan that can have a big impact on your family.1. Alternate BeneficiariesOne of the most important things your estate plan should include is at least one alternative beneficiary in case the named beneficiary does not outlive you or is unable to claim under the [...]
In recognition of her service to our community, LGT Partner Heather M. Cornell was awarded the Community Service Award at the Broome County Bar Association's Annual Law Day & Dinner last night May 11th, 2017. Congratulations Heather and thank you for all you do!
Past LGT Attorneys Sanford P. Tanenhaus and Carlton F. Thompson (posthumously) were honored yesterday with the first installment of an award in their names. The Carlton F. Thompson/Sanford P. Tanenhaus Ethics & Civility Award was presented for the first time last night, May 11th, 2017 at the Broome County Bar Association's Annual Law Day and Dinner. This new annual award will be given to attorneys that have demonstrated the highest standard of ethical conduct while maintaining an [...]
For better or for worse, our current culture is very car-dependant; in many places, cars are the only convenient link to the outside world. Unfortunately, as people age, driving can become more difficult and more dangerous. The elderly drive less, but have more crashes per mile than younger drivers. This is partially because elderly individuals are more likely to be affected by poor eyesight, chronic disease, and medications that might impair driving.
States vary widely on how they treat older [...]
The phrase "life estate" often comes up in discussions of estate and Medicaid planning, but what exactly does it mean? A life estate is a form of joint ownership that allows one person to remain in a house until his or her death, when it passes to the other owner. Life estates can be used to avoid probate and to give a house to children without giving up the ability to live in it. They also can play an important role in Medicaid planning.
In a life estate, two or more people [...]