One of the primary reasons for implementing an estate plan is to afford a person the opportunity to select or nominate estate fiduciaries. When one thinks about planning an estate, the initial considerations regarding the creation of a Last Will and Testament or a Revocable Trust are the beneficial provisions…
Estate planning in New York presents many benefits for settling an estate. The foundation for any plan is a Last Will and Testament. This document allows a person to memorialize in writing his intentions and desires regarding the disposition of estate assets. Provisions can be made for bequests of specific…
Estate planning in New York is important because it allows a person to create planning documents such as a Last Will and Living Trust. Advance directives in the form of a Power of Attorney and Health Care Proxy can also be made. While these papers reflect a person’s intentions regarding the…
Estate planning in New York is an important consideration for all individuals. When a person dies, assets are disposed of according to the laws in New York. If property passes upon death by operation of law then named beneficiaries or joint owners become the owners. Where assets are held in…
When a person dies without a Last Will and Testament he is known to have died intestate. In these cases the person’s distributees or next of kin have the statutory right to inherit the estate assets. Estates, Powers and Trusts Law (EPTL) Section 4-1.1 entitled “Descent and distribution of a…
When a person creates an estate plan he typically prepares a Last Will and Testament. A Will contains a provision that nominates an Executor. Thus, in most probate proceedings the selection of the estate fiduciary is not complicated and is controlled by the appointment made by a testator in a…
When a person dies without a Last Will he is said to have died intestate. In these types of estates, an application or petition needs to be filed with the Court for the issuance of Letters of Administration. Surrogate’s Court Procedure Act (SCPA) Section 1001 entitled “Order of priority for…
When a person dies without a Last Will he is said to have died intestate. The Surrogate’s Court Procedure Act (SCPA) and the Estates, Powers and Trusts Law (EPTL) have numerous provisions that control intestate proceedings. These provisions have been discussed in a number of earlier posts in the New…
When a person dies without a Last Will he is deemed to have died intestate. New York Surrogate’s Court Procedure Act (“SCPA”) Section 103(28) defines “Intestate” as “A person who dies without leaving a valid will.” The New York Probate Lawyer Blog has published many posts regarding the administration of…
The Administration of a New York Estate where a decedent dies intestate is determined by the laws of descent and distribution. As the New York Probate Lawyer Blog has discussed in previous posts, New York Estates, Powers and Trusts Law (“EPTL”) Section 4-1.1 provides the list of priority of distributees…