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For Estate Planning, Estate Administration And Disputes
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...
If someone dies who does not live in New York but owns property in the state, the New York probate court has jurisdiction over that property. The estate representative in the other jurisdiction will have to file an ancillary probate proceeding to administer the...
Your primary home in one state and vacation home in another must go through separate or ancillary probate in their respective states before transferring to your beneficiaries after you die. A QPRT or qualified personal residence trust may help your heirs avoid the...
As part of their estate plans, many people choose to also prepare for incapacitating illness or injury. To this end, they sometimes appoint health care proxies. A chosen personal representative, a health care proxy makes medical decisions on behalf of a grantor when...
You want to start a small business in New York, but you want to protect your investment of time and energy. How does commercial insurance help you meet that goal? Forbes breaks down different business insurance policies. Learn how to give yourself peace of mind about...
International investors have been justifiably wary as they observe current high-end real estate trends in New York City. However, recent signs may indicate a rapid and unusual rebound in the near future. Will there be an uptick in sales of distressed assets? Veteran...
Ultimately, an estate plan ensures your wealth and assets transfer to your beneficiaries according to your wishes without any interference or delays. However, even if you have all of your end-of-life plans in order, the best-laid plans can go awry if a relative...
Undue influence happens when Person A is able to persuade or coerce Person B to make or change their last will and testament so that it benefits Person A. Typically Person A has control or power over the person who is making or changing their will (called the...
There was once a tradition where the oldest son inherited the farm, holdings or business. That kind of thinking has gone by the wayside for the most part, which means that parents typically divide things equally among their children when they draft a will or create a...
Perhaps, as a child, you always spent time at a family-owned cabin in the Catskills during the summer, or in retirement, your parents bought a condo in Florida. Now that your parents have passed away, they left their vacation home for you and your siblings to share...