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For Estate Planning, Estate Administration And Disputes
An executor plays a crucial role in estate administration and manages and distributes a deceased person's assets according to their will. In New York, executors must navigate legal and financial responsibilities while honoring the decedent's wishes. Here are five...
The probate process in New York ensures proper distribution of assets. However, it comes with substantial costs that can reduce the amounts your loved ones may receive. Fees for filing probate in New York The state considers assets valued under $50,000 small estates....
When someone passes away, their estate must go through a legal process called probate. The will appoints the executor and manages the probate process. Understanding the executor's timeline and responsibilities is crucial for a smooth administration. Responsibilities...
During an estate’s administration, it is not uncommon for disputes to arise. These disputes often lead to estate contests, challenging the validity of the will or its provisions. Interestingly, even in the absence of a will, it is possible to contest an estate. This,...
When dealing with estate planning, you might encounter terms like "executor" and "trustee." While these roles share similarities, they serve distinct functions in managing a person's assets after death. Knowing the key differences between executors and trustees helps...
Your will is more than just a document; it is the cornerstone of your plans for your legacy and loved ones when you are no longer here. When you take the time to draft this crucial document, you secure the distribution of your assets and prevent potential conflict...
New York City is known for many things, and if you are dealing with a loved one’s estate, you may wonder if estate administration is yet another quirk. Estate administration, the intricate process of managing and distributing assets posthumously, unfolds differently...
If you lost a loved one, you may currently be dealing with an estate administrator that is administering your loved one’s estate. What happens if you think they have done something wrong? In New York, beneficiaries wield certain rights and recourse mechanisms if they...
Many New Yorkers are surprised to find out that their loved one’s estate plan distributes assets in a way that they didn’t expect. When these individuals are left out of the inheritance scheme, or when their inheritance is smaller than expected, they might consider...
When a person dies, they leave behind their surviving loved ones and all their assets and liabilities that compose their estate. Estate administration begins after their death and will continue regardless of whether that person has an estate plan or not. The estate...