When a fiduciary is appointed to administer a decedent’s estate, one of the main objectives is to collect and protect a decedent’s assets. Thus, Administrators and Executors typically search through the decedent’s papers and records to learn about the decedent’s financial estate. In most cases it is rather straight forward…
When a person dies it is common to refer to matters dealing with the decedent as issues concerning his “estate”. However, it is important to learn exactly what is meant by a person’s estate”. Upon death, an individual typically owns various assets. These may include real estate, bank accounts, brokerage…
The preparation and execution of a Last Will in New York requires careful attention to detail. When a Will is being formulated a New York Estate lawyer typically obtains information from a testator regarding assets and intentions concerning beneficiaries. Since the purpose of estate planning is to insure that a…
The settlement of an estate in New York invariably involves the kinship of a decedent. Whether the proceeding concerns the probate of a Last Will or an intestate administration, the Court requires full and specific information regarding the decedent’s next of kin (known as “distributees”). In a probate case, the…
Creating an estate plan in New York involves preparing a number of different documents. These papers may include a Last Will or Living Trust. There may also be other documents associated with a person’s assets such as bank accounts, life insurance policies and retirement funds like Individual Retirement Accounts and…
Estate litigation in the Surrogate’s Court is common. There are many different types of proceedings where parties engage in conflict. Probably the most well-known area of litigation in an estate is a Will Contest. When a Will is contested and Objections to probate are filed, there can be many months…
The statutes in New York provide for a Guardianship for a person who is found to be incapacitated. Article 81 of the Mental Hygiene Law is entitled “Proceedings For Appointment of a Guardian For Personal Needs or Property Management”. In a typical case a Guardianship is sought to be established…
There are numerous protections afforded to a surviving spouse in the New York Estate Laws. When a person dies without a Last Will, the Estates, Powers and Trusts Law (EPTL) Section 4-1.1 provides that a surviving spouse is entitled to receive the sum of $50,000.00, plus one-half of the decedent’s…
Creating a Last Will involves a number of considerations. A person should take an inventory of his assets including the value of each and the type of ownership. It is important to know if the asset is owned in the person’s individual name, or is a joint asset or payable…
An estate fiduciary can be an Executor, Administrator or Trustee. All fiduciaries have various duties and responsibilities. When a fiduciary fails to fulfill one of these obligations he may be found to have breached his fiduciary duty. One of the most important duties of a fiduciary is to provide beneficiaries…