Article 81 of the Mental Hygiene Law (“MHL”) is entitled “Proceedings for Appointment of a Guardian for Personal Needs or Property Management”. The New York Probate Lawyer Blog has posted many discussions regarding the process of having a Guardian appointed for an incapacitated person. The statute provides that the Court…
The estate of a New York decedent contains many different types of assets. One of the most important items of ownership in an estate is real estate. These interests commonly constitute one of the estate’s most valuable assets. Since real estate holdings are so valuable and because the laws concerning…
A New York Executor and Administrator each have many fiduciary obligations. Earlier posts in this blog have discussed the need for estate representation to identify and collect the assets of an estate. Estate Lawyers in New York are often asked by clients to provide guidance regarding real estate interests that…
Selecting the proper fiduciaries in estate planning is an important aspect of the planning process. When an individual creates a Last Will or Trust, the Executor or Trustee is the person who is given the responsibility to carry out the creator’s plan and protect the creator’s assets. The fiduciary has…
Many court cases and commentaries have focused on the use and problems associated with a Power of Attorney. In New York Article 5, title 15 of the General Obligations Law contains the statutes regarding a Power of Attorney (GOL Section 5-1501 seq.). The Power of Attorney can be a useful…
When a person dies and leaves a Last Will and Testament, the typical course to follow is to probate the Will. This Blog has published many posts concerning the probate process. The Will is filed with the Surrogate’s Court in the county where the decedent had his primary home. A…
Estate Planning for New Yorkers can be a very complex process. When considering a testamentary plan, it is common to immediately think about estate taxes. While such taxes are imposed in the form of New York State estate tax and the Federal estate tax, most estates are not subject to…
Estate Administration in New York involves the collection and distribution of the decedent’s assets. The New York Probate Lawyer Blog has discussed the many different types of assets that may be a part of a decedent’s estate. These assets include bank accounts, stocks and bonds, tangible personal property, and real…
New York Estate Lawyers frequently refer to Estates, Powers and Trusts Law (EPTL) Section 3-2.1 regarding the formalities required with regard to execution and witnessing of a Last Will. When a petition is filed with the Surrogate’s Court to have a Will admitted to probate, the statutes require that notice…
Planning an estate and advance directives involves a considerable amount of time and review so that the desired result is achieved. The New York Probate Lawyer Blog has discussed the importance of the many considerations when preparing planning and other documents. The papers that may typically be a part of…