The Right of Election of a surviving spouse of a New York decedent has been in existence since September 1, 1930. Prior to the enactment of New York’s Right of Election law, a surviving spouse possessed outdated dower and curtesy…
Senate Bill S4951A effectively amended the Surrogate’s Court Procedure Act (SCPA) § 1301 to increase the gross value of a “small estate” to $50,000. This change applied to estate administration actions and proceedings that began on or after November 25,…
When discussing estate planning and Medicaid planning, the phrase “life estate” is sometimes mentioned, but what does it mean? A life estate is a form of joint ownership of a property that allows one person to remain in the home…
As a beneficiary of an estate or trust you have a legal right to information, even if you were not named as the fiduciary (executor or trustee of an estate). If you are a beneficiary who is not getting answers…
If you are an estate trustee managing a trust or an executor of an estate that owns real property, you may need to sell the real property throughout the course of trust or estate administration. Before moving forward with the…
Legal disputes over wills and trusts, guardianships, and conservatorships can affect the authenticity of gifts and the ownership of family homes and land. The most successful approach to mitigating or avoiding probate litigation is carefully planning for the future. Comprehensive…
If you are a beneficiary of a trust or estate, or next-of-kin to a decedent whose estate is involved in a Surrogate’s Court probate proceeding, you should consult with a qualified attorney before signing any documents or waiving your rights…
A trust identification number identifies a trust, like any other legal entity, for tax purposes. You need a trust identification number in order to put assets into your estate planning trust. The number will always be either: The grantor’s Social…
Many New Yorkers own real property in multiple states. It is common for a New York resident to own real property, such as a vacation home in a warmer location. In this situation, it is important to speak with a…
When we pass away, we often want our assets to be collected by our loved ones as quickly and easily as possible. When settling an estate, an asset with a designated beneficiary will pass outside of probate and directly to…