The widow of a former New York City transit worker left her estate to four beneficiaries when she died in 2007. Unfortunately, three of them never collected on their inheritance and the fourth sits in a Florida jail cell charged with robbing the estate, the St. Petersburg Times reported. A…
A New York Administration Proceeding is typically required when a person dies intestate without leaving a Last Will and Testament. New York Estates, Powers and Trusts Law Section 4-1.1 provides the statutory guide for the intestate distribution of estate assets beginning with the decedent’s spouse and issue (i.e. children and…
A New York Last Will and Testament is subject to many requirements provided by both statutes and Court decisions. These rules determine various aspects of a Will such as its validity and effect or interpretation. The starting point regarding the proper form for a Will is New York Estates, Powers…
The case of Billionaire Julian Robertson highlights an issue less frequently talked about when it comes to estate taxes: The presence of some state and even city taxes on the estate of a deceased and/or his or her income while still alive. In this case, Mr. Robertson recently won a…
New York estate attorneys are routinely faced with many different factual situations where clients seek to obtain an inheritance from a decedent’s estate. These situations include the probate of a Last Will or the Administration of an estate where the decedent died intestate or without a Will. On occasion, a…
The 40-acre Greenwich estate of Leona Helmsley sold for $35 million recently. The property was marked down from an original asking price of $125 million but was still among the most expensive homes ever sold in the affluent New York suburb, the Wall Street Journal reported. The home was sold…
Those focused on what the government might do with the estate tax next year are forgetting about the likelihood of an increase in the gift tax. Estate planning attorneys in New York City and elsewhere are helping clients disperse portions of their estate this year to take advantage of the…
There are many considerations and activities relating to the settlement of a decedent’s estate. These items include the location and safekeeping of a decedent’s Last Will, the filing with the Surrogate’s Court of a Probate or Administration proceeding, the determination of next of kin, locating and collecting a decedent’s assets…
The Times Herald recently published an article on caring for a child with special needs after your death. Parents or guardians of special-needs children, or adult children living at home, need to plan for the eventuality of the child’s care after their passing. A New York City probate lawyer or…
The resurgence of the estate tax is expected to hit a lot of middle class families and others who fail to seek adequate estate planning in New York and elsewhere, according to MarketWatch. Historically, it has been thought that the tax affects a small number of tax payers — less…