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…
According to a recent article in the New York Daily News, the modern New Yorker has one more thing to worry about when creating a Will. The proliferation of social media web sites like Facebook and Twitter, along with the abundance of e-mail and online transaction accounts, is creating a…
A New York Will is a means by which a person can express his or her desires regarding the final disposition of property and the management of the affairs of his estate. New York Estates, Powers and Trusts (EPTL) section 1-2.19 defines a “Will’ as “an oral declaration or written…
Article 81 of the New York Mental Hygiene Law (MHL) provides the substantive and procedural statutes regarding New York Guardianships. As previously talked about in many past posts in the New York Probate Lawyer Blog, a Guardian can be appointed to handle a person’s property management and personal needs when…
How planning for one differs from planning for a couple In some ways, estate planning for a single person can be more challenging for an estate planner than planning for a couple. When a couple formulates an estate plan, the easiest and most natural thing to do is to entrust…
The New York Probate Lawyer Blog has discussed many issues that arise in connection with intestacy. When a person is said to have died intestate it means that his or her estate is to be distributed without the benefit of a Last Will. The relevant local laws of intestacy determine…
Those seeking to set up a trust in New York have many more options than their nationwide peers when it comes to choosing a trustee. New York offers a unique and varied concentration of financial service institutions that is unlike anywhere else in the world. However, your trustee need not…
A New York Guardianship Lawyer can advise a client with regard to the Guardian’s duties to protect the assets of the incapacitated person. Mental Hygiene Law (MHL) Section 81.21 is entitled “Powers of guardian; property management” and provides the various property management powers that are given to the Guardian. These…