Estate Planning for New Yorkers can be a very complex process. When considering a testamentary plan, it is common to immediately think about estate taxes. While such taxes are imposed in the form of New York State estate tax and the Federal estate tax, most estates are not subject to…
Estate Administration in New York involves the collection and distribution of the decedent’s assets. The New York Probate Lawyer Blog has discussed the many different types of assets that may be a part of a decedent’s estate. These assets include bank accounts, stocks and bonds, tangible personal property, and real…
New York Estate Lawyers frequently refer to Estates, Powers and Trusts Law (EPTL) Section 3-2.1 regarding the formalities required with regard to execution and witnessing of a Last Will. When a petition is filed with the Surrogate’s Court to have a Will admitted to probate, the statutes require that notice…
Planning an estate and advance directives involves a considerable amount of time and review so that the desired result is achieved. The New York Probate Lawyer Blog has discussed the importance of the many considerations when preparing planning and other documents. The papers that may typically be a part of…
A very common issue that arises during the course of estate administration concerns assets that a decedent transfers close to the time of death. These transfers can be in the form of outright gifts or the creation of ownership rights such as a joint tenancy or through a beneficiary designation.…
Estate planning in New York is essential to the proper administration of a decedent’s estate. Creating an estate plan that includes a Last Will, Living Will, Health Care Proxy, Power of Attorney and possibly a Living Trust can facilitate the process by which assets are passed to family and friends…
The New York Probate Lawyer Blog has talked about many different aspects of estate settlement. An estate fiduciary such as an Executor or Administrator has a fiduciary obligation to identify, locate and collect estate assets. In numerous instances, the decedent may have been involved in business or other transactions where…
A Probate Proceeding is just one of the many types of proceedings that can be commenced in the New York Surrogate’s Court. Other types of matters include Administration, Kinship and Accounting Proceedings. Each type of matter has its own particular set of rules and procedures which are typically found in…
When dealing with matters concerning an incapacitated person, one of the primary concerns is finding the resources to pay for the living expenses and care of the individual. New York Guardianship Lawyers must always determine the type of assets, income and benefits that are available. Incapacity can take many forms…
There are countless articles and advisory papers that have been written in which people are urged to prepare an Estate Plan. The use of advanced planning documents such as a Last Will, Living Will, Power of Attorney, Health Care Proxy and Living Trust allow a person to specify the manner…