With a thorough estate plan, one can be sure that their assets will be handled properly after death. However, according to the American Association of Retired Persons, more than three-fourths of millennials and around half of all Americans do not have an estate plan. New York residents who are just getting started in the estate planning process have several documents to think about.
Powers of attorney and other important estate planning documents
Are you responsible for your deceased parents' debt?
For many people, losing a parent is one of the toughest things they may ever go through, and while losing your mother or father will almost undoubtedly take an emotional toll, it can also leave you facing increased responsibilities. You may, for example, be responsible for handling your deceased parent's financial affairs after his or her passing, and just how much work this will entail will depend largely on your parent’s financial circumstances and whether he or she left behind a clear will or estate plan.
What to do when visitation rights are denied
Parents in New York and throughout the country are generally allowed to see their children after a divorce. However, a judge must do what is in the best interests of the child at any given time. This could mean that a parent is denied visitation or is given limited visitation rights. Visitation may be denied or allowed in a supervised format until a parent addresses concerns that a judge may have.
High-earning parents have advantage to alienate children
Co-parenting can be difficult in any situation, regardless of how well the parents get along. In a typical post-divorce setting, New York parents may have different views on raising their children. Anger and resentment can also linger for years, creating a tempting situation for one parent to get back at the other in the most painful way possible – by using the kids against him or her.
These apps may help you through your divorce
Getting a divorce is no easy task. Not only do you need to deal with the legal, financial and emotional complications throughout the weeks or months of the divorce proceedings, but you must figure out how to manage custody, support payments and rebuilding your life once your divorce is final.
