The administration of a New York Estate involves many different tasks. The main function of an estate fiduciary such as an executor or administrator is to collect the decedent’s assets and to pay or satisfy various debts and administration expenses. There may be many complicated steps that need to be…
The administration of a New York Estate requires the resolution of many different types of issues. During his lifetime a decedent may have been involved in activities that resulted in claims or debts that are unresolved at the time of death. For example, a person may have incurred credit card…
In New York City it is very common that a person may own a cooperative apartment. Essentially, the ownership of a co-op apartment has two aspects. A person is a stockholder of and owns shares in the cooperative corporation. The vested interest in the corporation provides a person with the…
Estate Settlement involves dealing with many different types of assets. New York City estate lawyers routinely find that a decedent was the owner of a cooperative apartment. The ownership nature of these apartments is comprised of shares of stock that the decedent owned in a cooperative corporation. As a shareholder…
A New York Executor and Administrator each have many fiduciary obligations. Earlier posts in this blog have discussed the need for estate representation to identify and collect the assets of an estate. Estate Lawyers in New York are often asked by clients to provide guidance regarding real estate interests that…
Estate Administration in New York involves the collection and distribution of the decedent’s assets. The New York Probate Lawyer Blog has discussed the many different types of assets that may be a part of a decedent’s estate. These assets include bank accounts, stocks and bonds, tangible personal property, and real…
Executors and Administrators appointed by the Surrogate’s Court have many duties and responsibilities. New York Estate Lawyers who represent fiduciaries typically assist their clients in connection with determining and paying estate liabilities. These liabilities can be in the form of debts and claims owed by the decedent such as unpaid…
One of the first and sometimes most difficult tasks faced by an Executor or Administrator of an estate is to identify, protect and collect the assets of a decedent’s estate. There is a fiduciary obligation to perform these activities so that the estate beneficiaries’ interests are safeguarded. The fiduciary has…
When a person dies intestate (without a Last Will), his estate is distributed according to the laws of intestacy. New York estate lawyers know that Estates, Powers and Trusts Law Section 4-1.1 provides the list of relatives who have priority to receive a share of the decedent’s estate. Many articles…
The Surrogate’s Courts in New York are familiar to most persons as the Court where Wills can be probated and Executors and Administrators appointed to handle estate affairs. While it is accurate that the primary issues presented to the Court are the appointment of estate fiduciaries, there are a plethora…