It’s a fascinating story if you are a baseball fan or if you spend your career assisting clients with Wills and Estate Planning in New York. It’s also a cautionary tale for those who are concerned that their private affairs will become public through the probate court process after their…
Preparing an estate plan and signing a Last Will and Testament, along with other papers such as a Health Care Proxy, Living Will and Power of Attorney, is important. It is also essential to maintain these documents in a safe and secure place after being signed, particularly a Last Will.…
Hiring a New York City probate attorney is an important consideration when executing the Last Will and Testament of a loved one. Typically, a Will names an executor who is charged with winding up a decedent’s affairs. Usually this is a child, family member or trusted friend. Frequently, it is…
Issues concerning the title and ownership of assets will appear time and again in the areas of estate planning, estate settlement and guardianship. When evaluating and planning an estate or Last Will, it is essential not only to know the assets that an individual may own, but also the manner…
New York estates face many issues following the death of the decedent. These issues include a determination of the decedent’s assets as well as debts and liabilities. Executors and Administrators have a fiduciary duty to investigate and determine the decedent’s rights and obligations and protect the estate’s interests in this…
The Edmonton Sun just published an informative piece on the issue of estate taxes and the passing of Yankees owner George Steinbrenner. The article is both fun for its outside view of the United States: “(The Death Tax) is actually no big thing relative to the U.S. GDP or debt,…
The New York Power of Attorney allows a person, known as the principal, to select an agent or agents and to give the agent authority to act on behalf of the principal. For example, one of the designated subjects in the Power of Attorney form provides that the agent may…
In New York the persons who are entitled to share a decedent’s property are called distributees. These persons are more commonly known as heirs or next of kin. A determination of distributees or kinship is essential in Surrogate’s Court proceedings and the Court rules and procedures require that due diligence…
The Times Herald-Record of Middletown, New York, recently published an informative piece about the need for comprehensive estate planning. Perhaps it is the discomfort often associated with contemplating our mortality, but far too many of us pass without ever leaving a basic Will. Far fewer of us take the time…
The number of estates subjected to federal estate taxes will skyrocket next year to an estimated 44,200, compared to just 5,500 estates that were subjected to the estate tax in 2009, The New York Times reported. The estate tax can have an enormous impact and can even force the sale…