During the course of the administration of a New York Estate, an executor or administrator may be confronted with various issues. For example, there may be numerous debts that need to be satisfied, such as credit card bills, medical bills, car loans, mortgages and utility bills. Each of these items…
The probate process in New York is comprised of a number of stages. At the outset, the original Last Will and Testament of a decedent must be located. This is not always as easy as it seems. In some cases, only a copy of a Will is found. When this…
A New York estate may have many different types of assets. These may include bank accounts, brokerage accounts, real estate, and retirement funds. Each of these items can present various issues for an executor or administrator. The estate fiduciary has an obligation to collect and protect estate assets. The failure…
One of the aspects involved with administering an estate in New York is the identification and collection of estate assets. A decedent may have owned bank accounts, security investments, real estate or business interests. In many cases, it is rather easy for an executor or administrator to obtain information regarding…
The essence of administering any estate begins with the appointment of an estate fiduciary. Estate settlement cannot occur without a party who is legally authorized to act. There are many variables which come into play regarding fiduciary appointment. In some cases, the decedent left a Last Will and Testament. This…
The administration of a New York estate can involve many different aspects relating to the decedent’s lifetime affairs. For example, after the Court appoints an executor or administrator, issues relating to a business may need to be resolved. The business may have been in the form of a corporation or…
Part of the estate planning process involves the creation and execution of advance directives. These documents include a Power of Attorney, Living Will, Health Care Proxy and Living Trust. One of the primary goals of these papers is for the creator to provide specific instructions for property management and personal…
The estate settlement process in New York can be viewed as having three parts. At the outset, there are proceedings for the appointment of an estate fiduciary. If a decedent dies with a Last Will and Testament, then a probate case is filed in the Surrogate’s Court. When there is…
A lot of time and effort may be expended with regard to creating an estate plan. Documents such as a Last Will and Testament, Living Trust, Health Care Proxy, and Power of Attorney require that the creator consider the various provisions and persons to be named as beneficiaries, agents or…
The appointment of an Article 81 Guardian in New York is a serious process. Each case begins with the preparation of a Verified Petition which provides details regarding the condition and circumstances of an alleged incapacitated person (AIP). The Court needs to be informed about the person’s family, assets and…