Clients sometimes consult a New York estate planning lawyer in order to investigate the possibility of “writing someone out” of a Will. In the eyes of the law, this process is called ‘disinheriting’ the person. Disinheriting essentially removes any rights or entitlements that a person may expect to receive upon…
Most New Yorkers spend a significant portion of their adult lives figuring out ways to accumulate wealth. At a certain age, the focus tends to shift from the accumulation of wealth to wealth protection. At a certain age beyond that, the focus shifts to how to utilize that wealth in…
These days, New York estate planning attorneys are finding it far more common for New Yorkers to give a portion of their estate to charity. They can do this because the law recognizes charitable organizations as legal entities in the same category as ordinary persons. As a result of this…
Contesting a will in New York is an uphill battle. After all, the purpose of a will is to commemorate the wishes of a person after they are deceased. Since the person in question is no longer alive to clear up any potential conflicts, courts tend to give tremendous weight…
New York Estate Administration Attorneys are often confronted with questions as to whether a decedent was married at the time of death. The issue of marital status is important since a surviving spouse is a distributee (next of kin) under New York Estate Laws and is afforded certain rights in…
Back in 2001, Congress passed legislation that had drastic effects on the estate tax. That year, a decedent could pass up to $675,000 to their heirs tax-free. Any funds in excess of that amount were taxed between 35-55%. Each year after that for the first decade of the new millennium,…
New York estate settlement is not an easy task. While estate lawyers assist their clients with probating New York Wills as well as finding and collecting estate assets, paying estate taxes and other debts and obligations, these procedures can be extremely complex. The ownership of estate assets such as real…
Many New Yorkers worry about the possibility that their pets will outlive them. Many more make the mistake of thinking that a standard Last Will is sufficient to look after their pets’ interests when they die. Any New York estate planning attorney would caution that this is not necessarily the…
Most New Yorkers expect to live until a ripe old age. What happens, though, when a person outlives their projected life expectancy? In many cases, the assets that ordinarily would have been passed down in the person’s estate instead become the source from which living expenses are paid. As a…
Estate taxes are costly. New York estate planning attorneys are often consulted for their expertise on how to limit estate taxes when people wish to transfer their wealth to their next of kin. In appropriate cases, this expertise may lead an estate lawyer to suggest the creation of a Family…