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For Estate Planning, Estate Administration And Disputes
Even after an estate owner dies, their debts and liabilities continue to exist. This is where probate and estate administration comes in. The state executor will pay the decedent’s liabilities before distributing the remaining assets to the heirs and beneficiaries....
A breach in fiduciary duty would mean either the trustee has overstepped their authority and/or failed to act in the best interests of the beneficiaries. If there has been suspicious activity concerning the management of your trust, you may want to investigate the...
When a person passes, they leave behind all their money, assets, debt and property. Together these make up the estate of an individual. In New York, an executor and trustee are essentially the same in that an owner of an estate gives them the fiduciary duty to manage...
When someone in New York drafts a will and then passes away, there are certain grounds under which someone might challenge the will’s contents. “Undue influence” is a legal concept that someone people cite when challenging a will, which, in simple terms, means someone...
When choosing an executor for your estate, you may lean toward a family member above all else. After all, who knows you better than your family? Unfortunately, a familiarity with you is not the only skill that an executor needs, though. In fact, your executor needs a...
Estate administration can be complex. Here is some information on estate administrators. Specifically, here is who can be one and what they do. Must the administrator be a legal representative? The administrator does not have to be a legal representative. However, the...
If friends and family see you as competent and honest, they could reach out to you to serve as an executor of an estate. While this position has a certain level of prestige, you should carefully consider all aspects of the job. Depending on the situation, you might...
If a loved one dies without a will, the estate will go through a process called administration. The court will step in to handle important aspects, such as appointing someone to be in charge of distributing assets. You can file for administration if you are the...
If your close family member lives in another country, you may become that person's legal beneficiary under foreign law. Understanding your rights and legal obligations when you inherit foreign real estate can eliminate costly liabilities. Transfer Requirements Most...
If you are the executor of an estate, there is a lot to navigate when it comes to the probate process. There are assets, both physical and intangible, you must attend to as stipulated in a will. Finding who to divide the estate between complicates the process...