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Your will’s executor performs a vital function, so you need to choose whom you are appointing for this role carefully. Should you find a reason to change your executor later, you can do so in several ways. Why might you change your executor? After you pass away, the...
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...
Few people want to think about losing a loved one, which deters conversations about estate planning. However, knowing what to expect when someone passes is vital, especially when they have a sizeable estate to settle. Probate is a common element in estate settling....
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...
For non-citizens, forming an LLC in the United States can be an excellent way to purchase property. However, there are certain limitations to consider before taking the plunge. See below for some basic information about forming an LLC to purchase property as a...
It is common in the country for unmarried couples to cohabitate. In 2016, there were around 18 million cohabiting unmarried couples in the United States. As more couples adopt this living arrangement, it raises the issue of whether a partner can be your estate's...
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...
Estate planning is complex when dealing with family members living outside the United States. An individual cannot leave their financial affairs until the last minute, as the tax codes and estate planning laws vary across the globe. Ignoring key planning...
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...
An estate plan involves many different parts, such as advanced medical directives, establishing power of attorney, creating a will and more. Due to the many moving parts, it is easy to accidentally overlook certain aspects of an estate plan. What sort of oversights...