A New York Supplemental Needs Trust (“SNT”) is a trust that allows trust funds to be available for a person who is receiving government benefits such as Medicaid or Social Security Disability (“SSD”). The governmental payments continue and are not reduced or terminated despite the existence of the trust fund.…
New York Estate Lawyers regularly prepare Last Wills and Trusts for their clients. One item that is typically discussed is the amount of commissions or fees that an Executor, Administrator or Trustee may be paid. The primary source for the allowance and calculation of fiduciary commissions is Article 23 of…
The New York Probate Lawyer Blog has posted many articles concerning the need for thoughtful and specific estate planning. The many documents that can be used for advanced directives and post-death plans include a Living Trust, Health Care Proxy, Last Will, Living Will and Power of Attorney. The failure of…
The administration of a decedent’s estate is primarily under the authority of the New York Surrogate’s Court. These courts also supervise testamentary trusts and, in many cases, inter vivos trusts, as well. A testamentary trust is a trust that is created by a decedent’s Last Will. As can be imagined,…
A New York Executor, Administrator or Trustee has many powers and obligations. As a fiduciary, such appointments require that a full record and account of activities be maintained so that an accounting can be provided to the estate or trust beneficiaries. It is not uncommon for a beneficiary to complain…
The New York Estate Settlement process begins upon the death of an individual. Clearly, a person’s demise signals what seems to be an end to that person’s affairs and the settlement or winding up of matters and the distribution of estate assets. However, as shown in many posts in the…
Living Trusts in New York present a number of beneficial options for a person’s Estate Planning. The basic planning and Advanced Directive documents begin with a Last Will, Health Care Proxy and Living Will and Power of Attorney. However, these papers may not meet all of the needs in a…
Many situations have arisen over the years regarding the validity and effect of a beneficiary designation or clause that has been provided by a decedent. The naming of a beneficiary of an asset or property can appear in a variety of forms. A person who prepares a Last Will includes…
There are two fundamental procedural avenues that are followed when initiating proceedings in the Surrogate’s Court to administer a decedent’s estate. If the person died testate (having left a Last Will), the proceedings concern the Probate of the purported Will. If the person died intestate (without a Will), the proceedings…
Controversies arising in Estate Planning, Estate Litigation and Estate Settlement involve a vast variety of issues. New York Estate Lawyers know that the many different problems that are found in the area of Trusts and Estates are as diverse and complex as the individuals whose lives are impacted by them.…