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If a person who dies owns property in a state other than the state that person lived in, the estate may need to go through an additional probate proceeding known as ancillary probate. Because the probate process can not finish until all ancillary proceedings finish,...
As you are keenly aware, there is no more worldly location nor important hub of travel and commerce than the State of New York. Not everyone who conducts significant business or forms lasting relationships in the Empire State remains here. By definition, New York is a...
The potential of having to pay estate taxes may hang over your estate plans in New York. Yet should they? While most assume that everyone must pay estate taxes, that is not the case. Both the state of New York and the federal government offer opportunities to limit...
Having a comprehensive estate plan is crucial. Wills and other estate planning tools ensure your heirs receive your assets after you are gone. They can also help you minimize taxes when developed strategically. While it is crucial that you have an estate plan in...
Even if you do not currently have a last will and testament, it is likely that you are familiar with the purpose of the document. Many people, however, are less aware of living trusts and the role that they can play in a robust estate plan. Living trusts have a number...
You probably already know how crucial an estate plan is for your assets and family. Develop a solid and legally binding plan is equally important, as this will prevent family members from contesting it. According to Kiplinger, certain estate planning mistakes are...
You understand the importance of having a health care proxy make medical decisions for you if you become incapacitated, but do you know how to talk about the matter with candidates? You do not want your chosen proxy to learn of your decision after you become medically...
When New York residents believe that they did not get or will not get their owed property after a loved one's death, it can be a difficult situation to handle. In many cases, individuals may have anticipated an inheritance, only to find that the terms of the will are...
Most people want to have the time and opportunity to grieve after a loved one's death. While many New York residents may have that chance, others may feel as if they must put those feelings on hold because concerns have arisen over the person's remaining estate. In...
When New York family members have concerns over the contents of their loved ones' estate plans, it is not unusual for legal action to result. In some cases, will contests can help surviving family members ensure that any information in the documents reflects the true...