Update: MSNBC reports that New York City officials have begun welfare checks on the 104-year-old heiress and the Manhattan district attorney has launched a criminal investigation into the handling of her finances. Where in the world is 104-year-old Huguette Clark? One only hopes that she has a world-class New York…
There are many situations where a person who is disabled has assets available for his or her present use or may be in the position to receive assets at a later date such as a beneficiary under a Last Will or Trust. While owning assets is usually beneficial, persons suffering…
A New York Article 81 Guardianship Proceeding is commenced when a petition is filed with the Court. The general requirements of a petition were previously reviewed in a post dated August 16, 2010. Upon receipt of the petition the Court will then sign an Order to Show Cause in which…
It’s a fascinating story if you are a baseball fan or if you spend your career assisting clients with Wills and Estate Planning in New York. It’s also a cautionary tale for those who are concerned that their private affairs will become public through the probate court process after their…
Every New York Article 81 Guardianship Proceeding involves its own unique set of facts and circumstances. These variables encompass things such as the nature and extent of the alleged incapacity, the relationship between the Alleged Incapacitated Person (“AIP”) and his or her relatives, companions and friends; the assets and income…
Preparing an estate plan and signing a Last Will and Testament, along with other papers such as a Health Care Proxy, Living Will and Power of Attorney, is important. It is also essential to maintain these documents in a safe and secure place after being signed, particularly a Last Will.…
Hiring a New York City probate attorney is an important consideration when executing the Last Will and Testament of a loved one. Typically, a Will names an executor who is charged with winding up a decedent’s affairs. Usually this is a child, family member or trusted friend. Frequently, it is…
Issues concerning the title and ownership of assets will appear time and again in the areas of estate planning, estate settlement and guardianship. When evaluating and planning an estate or Last Will, it is essential not only to know the assets that an individual may own, but also the manner…
New York estates face many issues following the death of the decedent. These issues include a determination of the decedent’s assets as well as debts and liabilities. Executors and Administrators have a fiduciary duty to investigate and determine the decedent’s rights and obligations and protect the estate’s interests in this…
The Edmonton Sun just published an informative piece on the issue of estate taxes and the passing of Yankees owner George Steinbrenner. The article is both fun for its outside view of the United States: “(The Death Tax) is actually no big thing relative to the U.S. GDP or debt,…