Beneficiaries of an Estate in New York may be determined in a number of different ways. The most recognizable method of beneficiary designation is the naming of an individual or institution to receive a benefit in a Last Will. There are many different types of dispositions that can be made…
Fiduciaries in New York are appointed to administer estates and trusts. With regard to an estate, the Surrogate’s Court appoints either an Executor or Administrator depending upon whether the decedent had a Last Will. When a Last Will exists, the document is offered for probate and the Court appoints an…
Fiduciaries who are appointed by the Surrogate’s Courts in New York have many responsibilities. The fiduciary can be an Executor or an Administrator. It is very common for a decedent’s estate to have amongst its assets real estate. In fact, in many situations a decedent’s home may be the most…
The probate of Wills in New York can be very complicated. The Estates, Powers and Trusts Law (“EPTL”) Section 3-2.1 entitled “Execution and attestation of Wills; formal requirements” provides the basic requirements for the proper execution of a Will. The New York Probate Lawyer Blog contains many articles discussing the…
The settlement of a decedent’s estate can be viewed as encompassing three stages. Estate Lawyers in New York City are familiar with this process. The first step involves the appointment of the estate representative. When a decedent leaves a Last Will and Testament the Will is filed with the Court…
In New York City it is very common that a person may own a cooperative apartment. Essentially, the ownership of a co-op apartment has two aspects. A person is a stockholder of and owns shares in the cooperative corporation. The vested interest in the corporation provides a person with the…
An Executor or Administrator in New York has a duty to discover and collect all of the assets that rightfully belong to a decedent’s estate. If the estate fiduciary fails to perform this task properly the estate beneficiaries may claim that there was a breach of a fiduciary duty. Identifying…
New York Estate Settlement can be complicated by many different factors. After a person dies a fiduciary such as an Executor or Administrator will be appointed to handle estate affairs. The New York Probate Lawyer Blog has provided numerous posts discussing the procedure to appoint an estate fiduciary. In short,…
When a person dies, one of the first tasks that a family and fiduciary face is to take control over the decedent’s residence. New York estate lawyers are aware that accessing and securing a decedent’s home can often be difficult and complicated. To begin with, when a decedent lived alone…
A Supplemental Needs Trust (SNT) is an important mechanism to provide financial security for persons with disabilities. The New York Probate Lawyer Blog has posted a number of articles regarding the requirements and benefits of a SNT. Essentially, a SNT allows for funds to be held for the benefit of…