There are many aspects to the settlement of a New York estate. First and foremost, there needs to be a determination as to whether the decedent had a Last Will and Testament or died intestate without a Will. The existence of a Will provides provisions for the distribution of a…
There are numerous situations where a beneficiary of an estate or trust in New York is entitled to receive his distribution. An estate may be in existence where the decedent left a Last Will and Testament providing for various bequests. When a decedent dies intestate without a Will, his distributees…
There are a number of different types of fiduciaries. These include Executors, Administrators, Trustees and Guardians. Even an agent under a Power of Attorney stands in a fiduciary relationship to his principal. One common aspect relating to all fiduciaries is that they are required to provide a complete accounting of…
One of the most important aspects of planning a New York estate is having complete knowledge regarding the nature and value of the person’s assets. The various financial accounts and property interests that are owned may seem straightforward upon initial examination. However, a thorough review can be the difference between…
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…
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…