Estate planning in New York is important. It provides an individual with the opportunity to memorialize the manner by which assets can be disposed of upon death. The creation of a Last Will and sometimes a revocable or irrevocable trust develops provisions designating beneficiaries and the portion of assets they…
Estate planning in New York has always been important. The New York Probate Lawyer Blog has published numerous articles over the years discussing the need for, and issues involved with, a Last Will, Living Will, Health Care Proxy, Power of Attorney and Living Trust. However, as estate planning lawyers are…
Any discussion regarding estates and trusts in New York invariably involves the Surrogate’s Court. To most individuals not involved with the settlement of a decedent’s estate or other Court matters, proceedings in a Court named Surrogate’s Court may seem mysterious and sometimes ominous. However, this Court and the nature of…
Everyone talks about preparing a Last Will or engaging in estate planning. Particularly now, with the advent of the pandemic, there is the reality of facing the need for post-death and advance directive documents. It is easy for an individual to view planning as the simple function of disposing of…
It is well known that writing an estate plan is essential to have an effectual distribution of assets at death. A lot of time and effort can be expended creating a Last Will, Living Will, Health Care Proxy and Power of Attorney that reflect a person’s desires and intentions. The…
After the death of an individual, the usual course is to proceed to have a fiduciary appointed to represent the decedent’s estate. This is necessary in order to have someone who has the legal authority to collect the decedent’s assets, pay estate expenses and obligations and ultimately, distribute the net…
Fiduciaries in New York such as executors, administrators and trustees are obligated to account to the beneficiaries. This means that estate and trust beneficiaries can request that they be provided with a financial accounting of the fiduciary’s activities. An account typically has specific information contained in various schedules showing the…
Preparing and probating a New York Will is important in order for a testator to effectuate an estate plan. There are many considerations that an individual needs to consider when planning an estate such as how assets are to be distributed and the identity of the beneficiaries who are to…
In New York there are many different types of residences that may have been occupied by a decedent. The settlement of an estate may be impacted by the nature of such home. For instance, a person may have been living in a rental apartment, or in a cooperative or condominium…
The appointment of a fiduciary is essential for the administration of a decedent’s estate. Assets that were owned solely in a decedent’s name at death are not accessible unless the Court appoints a duly authorized representative. Such representative can be an administrator if the person dies intestate or an executor…