New York estate settlement involves many different types of rules and statutes. When a person dies the first question to be asked is whether the decedent had a Last Will and Testament or whether he died intestate. Once this fundamental issue is established either a probate petition or a petition…
There are many different types of provisions that can be written in a Last Will and Testament. The most common terms include bequests to named beneficiaries and other clauses that provide for the disposition of assets. Also, the Will should name Executors and Trustees as well as proposed Guardians if…
Estate planning in New York is important. The creation of a Last Will and Testament and other documents such as a Living Trust, Health Care Proxy, Living will and a Power of Attorney, allows a person to control the disposition of assets and provide directions regarding personal decision-making. It requires…
The administration of a New York estate typically is comprised of three stages. The first stage involves the appointment of an estate fiduciary such as an Administrator when the decedent dies intestate or an Executor when there is a Last Will and Testament. In most cases this stage is uneventful…
When a person engages in estate planning and preparing a Last Will and Testament, numerous items of information and directions are set forth in a Will. Along with providing provisions naming beneficiaries and describing distributions of assets, a testator needs to designate fiduciaries such as Executors and Trustees. The selection…
Planning an Estate in New York involves many considerations. At the outset of the process, particular care must be taken to understand the nature of the assets to be covered by the estate plan. Assets that are owned in an individual’s name alone would be subject to the terms of…
The filing of a Will Contest with the Surrogate’s Court brings to mind melodramatic stories of family intrigue and deception that are played out in movies, novels and other media outlets. In reality, Contests regarding a Will in New York are rather common occurrences that are subject to strict statutory…
An Article 81 Guardian appointed to safeguard the person and property of an incapacitated person may need to deal with an assortment of issues. Similar responsibilities are given to the Executors and Administrators of an estate. In particular, the property interests of both an incapacitated person and a decedent’s estate…
The administration of a New York estate requires that the decedent’s assets be identified and collected. In most cases the marshaling of estate assets is not complicated. An Executor or Administrator often collects funds from bank accounts, brokerage accounts, retirement accounts and life insurance. Typically, there are forms to be…
There are a number of different ways in which a person can dispose of assets after death. Creating a Last Will and Testament is a traditional vehicle for a person to transfer his estate to estate beneficiaries. A Will controls all assets that are owned by a decedent in his…