When a couple marries later in life, after they both had children of their own, their estate plans need to take their blended family into account. For example, there are estate planning techniques such as a Qtip Trusts that allow income to the surviving spouse for life, with property passing to children upon the surviving spouse’s death. However, some couples maintain separate assets throughout the marriage and want to leave those assets to their respective children, not to each other, upon their deaths. In New York state, you cannot disinherit your spouse without his or her permission and, relying on just a promise invites disaster.

A deed is a legal document used to convey title to real property. There are different types of deeds that may be used depending upon the circumstances of the transfer. It is always best to consult an experienced real estate attorney who can prepare and advise which type of deed should be used to meet your specific needs.

As fiduciary, you are required to account to the beneficiaries, but the type of accounting will vary depending upon the actual beneficiaries and the fiduciary’s relationship with them. There are two types of accounting: informal and judicial accounting.