New York Estates and Trusts Law Firms deal with issues regarding real estate all the time. The ownership of real estate can take many forms. Queens County estates and Brooklyn estates are likely to have interests in single family houses. Manhattan estates commonly contain condominiums and cooperative apartments. Regardless of…
The preparation of a New York Last Will is an important part of a person’s overall financial plan. The initial step that should be taken is to fully assess and understand the goals that the person making the Will wants to achieve. This process can be summarized as formulating and…
The administration of a New York estate requires that estate fiduciaries, such as Executors and Administrators, determine and resolve debts that are left by a decedent. Debts and liabilities can take many forms. A decedent may have owned a home or other real estate. Such assets can have mortgage debts…
New York estates are subject to many requirements relating to taxes. Estate taxes can have a major impact on the estate administration process since the estate fiduciary such as the Executor or Administrator is responsible for timely preparing the estate tax returns and paying the tax that may be due.…
The New York Probate Lawyer Blog has discussed different areas concerning estates of decedents such as Last Wills, Kinship, Probate and Administration, as well as Article 81 Guardianships. In many instances there is a combination of issues and problems that estate beneficiaries and fiduciaries face before estate settlement can be…
Under New York Law, spouses enjoy protections regarding rights to share in the other spouse’s assets. While both spouses are alive, divorce laws such as “equitable distribution” provide a framework for the disposition of assets between spouses. However, when one spouse dies, rules provided by the New York Estates, Powers…
A New York estate proceeding in the Surrogate’s Court requires the participation of all interested parties. First and foremost, a decedent’s distributees (next of kin) must be identified so that proper notice, usually in the form of a Citation or Notice, can be sent to the parties at their current…
Estate Planning Attorneys in Nassau and Westchester, as in all other New York Counties, are well aware that the documents they prepare for clients must have clearly worded provisions. A Last Will is a testamentary statement as to where and how a decedent’s assets are to be disposed of. In…
Probate of Wills in New York requires the compliance with many provisions that are part of the New York Estates, Powers and Trusts Law (“EPTL”) and the Surrogate’s Court Procedure Act (“SCPA”). First and foremost, EPTL Section 3-2.1 entitled “Execution and attestation of wills; formal requirements “sets forth the statutory…
The New York Probate of a Last Will and an administration proceeding for an intestate (no Will) estate each requires compliance with provisions in the New York Estates Powers and Trusts Law (EPTL) and the Surrogate’s Court Procedure Act (SCPA). Among the most fundamental provisions of these statutes is the…