A recent Wall Street Journal article reports that now is a good time to consider planning an estate in New York and elsewhere, given the volatility of the economy. With interest rates low and Congress increasing the federal gift-tax exemption to $5 million from $1 million for people until the…
A recent article on Forbes.com lays out the long-awaited guidance for executors of estates of people who died in 2010, explaining how executors can opt out of the estate tax and which tax rules apply to assets if they do. Being named an executor in a New York estate or…
Most would agree that the recent death of 27-year-old singer Amy Winehouse was tragic. Winehouse continually battled drug and alcohol addiction as her music made millions — including a song called “Rehab.” But she got her will right MSN Money reports. It leads a New York Estate Planning Lawyer to…
The New York estate settlement process involves many different requirements and responsibilities. An Executor is the person or institution appointed by the Surrogate’s Court to administer or carry out the terms or provisions in a Last Will. The responsibilities of a person named as Executor begins immediately after the death…
Attorneys familiar with probating a Last Will throughout New York, such as in the Bronx and Brooklyn, are often confronted with issues that result in Court litigation. Many of these controversies involve family disputes and disagreements that have origins many years before the death of the decedent. Once a person…
As the New York Probate Lawyer Blog recently reported, a majority of Americans believe that planning an estate and putting together a will is important. However, as the survey also discovered, a majority of those questioned do not have the proper documents in place for themselves. A large percentage (36…
Beginning on July 24, 2011 same-sex couples will be allowed to marry in New York. As is common with most new laws, marriage equality provides many new estate and property rights while leaving unanswered other issues. As is provided throughout New York estate statutes such as the Surrogate’s Court Procedure…
It seems like every week you hear a story on the news or read in the newspaper about an elderly person who suffers physical abuse, either by a caretaker or family member. Sometimes the person victimized is handicapped or otherwise dealing with challenges in life. Sadly, it often takes law…
A recent survey posted on The Wall Street Journal’s MarketWatch website found that while Americans believe that estate planning and wills are important, they do not have the documents in place for themselves. Residents of Queens and Brooklyn, particularly those owning homes, should not leave the disposition of their assets…
New York law provides for many requirements regarding inheritance and Last Wills. The New York Probate Lawyer Blog has discussed that when a person dies without a Last Will, his or her estate is distributed to the distributees or “next of kin”. New York Estates, Powers and Trusts Law section…