During the course of preparing a New York estate plan, many different issues must be considered. Initially, the basic plan must identify beneficiaries and the property or amounts each is to receive. A thorough review and understanding of the creator’s assets and the ownership interests are essential. As extensively discussed…
Estate planning in New York, and probating a Last Will in Surrogate’s Court, go hand in hand. When a person engages in preparing and executing a Last Will, attention must be given to the eventuality of submitting the document to the probate process. As discussed in many posts in the…
We know that when a person engages in the process of creating an estate plan, it is important to review all assets that may be part of the disposition framework. Assets that are owned in a person’s name are typically subject to the provisions of a Will. The testator creates…
Like most things in life, estate planning in New York comes in all different shapes and sizes. Each person has their own unique situation regarding assets and desires concerning advance directives and post-death distributions. When reference is made to a so-called non-traditional family, the reality is that in today’s world,…
Many of the issues concerning estate planning, including the preparation of Last Wills, Living Wills, Health Care Proxies and Powers of Attorney involve the personal intentions of the creator of the document. For example, a Will should reflect the manner in which the testator desires or intends his assets to…
As a result of the COVID-19 crisis, people throughout the United States and other countries are exceedingly concerned about their personal and financial welfare. Among other matters, consideration has been focused on protecting one’s assets, as well as insuring that the assets are properly situated to be passed on to…
I have published the New York Probate Lawyer Blog for many years with the goal of providing the internet community with New York Estate Planning, Probate, Surrogate’s Court and Guardianship information. My blog, along with my website, contains hundreds of pages of helpful data obtained over my 40 years of…
New Yorkers, as well as people throughout the world, are dealing with the health and financial effects of the COVID-19 pandemic. As in many past emergency and life-changing situations, thoughts are focused on a person’s future well-being. In particular, having practiced in the New York trusts and estates and estate…
Planning an estate in New York is very important. To begin with, if a person dies intestate (without a Last Will), the estate laws in Estates, Powers and Trusts law (EPTL) section 4-1.1 entitled “Descent and distribution of a decedent’s estate,” determine the heirs that receive the estate assets. Thus,…
Planning a New York estate is an ongoing process. There are always various matters to be considered. Many aspects in a person’s life change over time. The nature and value of assets may fluctuate. Also, the identity of the beneficiaries can vary. There can be new potential beneficiaries such as…