An improperly planned estate in New York City can cause turmoil in a family that adds to the grief felt from the loss of a loved one. And it’s not just everyday citizens who deal with it. Many celebrities have made mistakes in their wills that cause problems. That’s why…
The New York Probate Lawyer Blog has discussed on a number of occasions the many problems created when a person dies without a Last Will and Testament. One of the major issues faced in estate settlement and estate administration in such cases is determining the identity of the decedent’s distributees…
Imagine the emotion of having a parent or relative die and then deal with the shock of being left a large sum of money as an inheritance. Many would not consider it a burden. However, without the proper plan to handle that kind of change in your life, you could…
It’s possible that the number of millionaires in the United States will double over the next decade as numbers reach and exceed pre-recession levels, CNN Money reports. The wealthy tend to their money like one might tend to a garden: thoughtfully, frequently and with great care. A New York probate…
New York estate planning requires the consideration of many different facts and circumstances. Paramount in importance is a person’s planning desires which require identifying the beneficiaries, such as relatives, friends and charities, who are to share in the plan. Also, the various types of assets such as real estate ,…
New York Estate Planning requires the consideration of many different topics. To begin with, knowing the nature and value of one’s assets is imperative. Some assets such as joint bank accounts will pass to the joint owner by operation of law. Assets held in the name of the decedent or…
The New York probate of a Last Will essentially requires the determination by the Surrogate’s Court that the Will is a valid document to provide for the transfer of the decedent’s estate. When a Will is admitted to probate, the Will becomes effective and estate assets are distributed as specified…
As Forbes reports this week, nothing can turn your New York estate plans upside down like divorce. New York City trust attorneys understand divorce can be an emotional time. Unfortunately, a lack of planning means some will never regain the financial ground and standard of living lost in a divorce.…
We recently reported on our New York Probate Lawyer Blog about the need for ancillary estates to dispose of out-of-state real estate in cases that go through probate court. Estate planning lawyers in New York City understand there are many options for avoiding probate. In some cases trusts or other…
The NWI Times recently published an article explaining the complexities and expenses associated with ancillary estates, which can be necessary to dispose of real property located in another state. Proper estate planning in New York can alleviate the need to go through the probate process in multiple states, which can…