Many New York Estates and New York Guardianships contain assets in the form of real estate such as single or multi-family homes. Other possible assets can also include a condominium or cooperative apartment. These properties are a valuable, and many times the most valuable, asset owned by a decedent or…
There have been numerous posts in the New York Probate Lawyer Blog discussing many aspects of the importance of good estate planning. First and foremost, preparing and signing a Last Will allows a person to provide specific direction as to the disposition of property upon death. Absent the execution of…
A New York Executor and Administrator has an obligation to collect estate assets, pay bills and expenses and then distribute the net estate to the estate beneficiaries. Estate settlement in Manhattan or Brooklyn or Queens or other New York Counties is fundamentally the same. As part of the settlement process,…
Proceedings in the New York Surrogate’s Court, like most Court matters, require that all of the interested parties be given proper notice of the Court action. In addition to the fundamental fairness that results from proper notice, the Court’s ultimate rulings and Orders generally can have no effect over persons…
As 2012 is coming to an end, so are the many provisions of the tax laws that are set to expire on December 31, 2012. Among the laws that will change in 2013 is the Federal Estate Tax. At present, a New York Estate Attorney is aware that the federal…
New York Guardianship Lawyers are often asked by clients as to the type of Guardianship that is needed concerning an alleged incapacitated person (“AIP”). The New York Probate Lawyer Blog has discussed many instances where the Court has appointed a guardian for both the person and property of the AIP.…
The Administration of the estate of a decedent requires the immediate determination as to the State law that controls estate settlement. Usually the domicile of a decedent determines which State laws (i.e., New York or New Jersey) will be applied to many of the issues concerning the estate. The determination…
The fundamental goal of an Executor or Guardian administering the estate of a decedent or Guardianship funds is to collect and protect assets and distribute them on behalf of the appropriate beneficiary. The determination of the identity and value of assets is often very complicated. To begin with, assets may…
On May 4, 2012, Adam Yauch lost his battle with cancer at the young age of forty-seven. Sadly, this type of thing is not uncommon in New York, where cancer claims many lives each year. What makes this case more notable than most in an estate planning context is that…
Executors, Trustees and Administrators in New York are commonly referred to as fiduciaries. Fiduciaries are the representatives of a trust or estate that are authorized by their appointment to act on behalf of the trust or estate. The New York Probate Lawyer Blog has had many posts discussing actions of…