When choosing an executor, most people focus on one question:rnrnWho do I trust?rnrnTrust is certainly important. However, there is another consideration that many families overlook: Where does your executor live?
Reena Gulati Blog
One of the most common misconceptions in estate planning is that creating a trust automatically avoids probate.rnrnIt doesn't.rnrnIn fact, I regularly meet families who are surprised to learn that a loved one had a trust, paid for a trust, signed a trust—and yet their estate still requires probate proceedings in Surrogate's Court.rnrnHow does that happen?
Most people assume that Special Needs Trusts ("SNTs") are only for families raising a child with a significant disability. In reality, many families encounter special needs planning unexpectedly—and often much later in life than they anticipated.rnrnAs an estate planning attorney, I frequently meet clients who have thoughtfully addressed guardians for minor children, asset distribution, retirement accounts, and tax planning. Yet one question often remains unanswered:
If you own a business or real estate in New York, you’ve already done the hard part: building something valuable. But without a clear estate plan, all of that can be put at risk—either through probate, taxes, or uncertainty over what happens next.rnrnThis is a common issue I see with clients who have substantial real estate, investment properties, or closely held businesses. They often have a will, or maybe nothing at all, and believe that’s enough. It’s not.
Many people believe that once they’ve signed a will or even created a trust that their estate plan is complete. In reality, this assumption is one of the most common and costly mistakes families make.rnrnAs an estate-planning attorney, I regularly meet clients who are confident they are “all set,” only to discover that their documents no longer reflect their lives, their assets, or their intentions. When that happens, even well-meaning plans can unravel at exactly the wrong time.
