Determining who you should select to serve as the Executor of your estate can often be a difficult decision. It is important to understand the duties and responsibilities of an Executor before you make your final decision. Here are some…
In New York State, in order to contest a person’s Last Will and Testament, the challenger must have the right to do so. This right is known as “standing”. A challenger has standing under the following circumstances: When he or…
Whether we like to admit it or not, our children do not stay young forever. They grow up, move away for college and sometimes chose to pursue a career in a different state. Up until your child reaches age 18,…
When a person dies, his or her estate may need to go through probate. If the decedent leaves a will directing how his or her property should be distributed after death, the will must be submitted to the probate court so…
Whatever the reason may be, many put off estate planning. Often times, we receive a call from someone stating their loved one has dementia and has no legal planning documents in place. At this time, whether or not they can…
A recent meeting with one of my clients caused me to think about what it means to contest a will. Some people have misconceptions about who can mount a challenge to a person’s will or estate plan, and how those documents can be protected from such a challenge.
Only spouses and children (known as legal heirs) have the right to challenge a will or estate plan under New York law. For example, if I was married with three children, my wife, and three children would be my legal heirs. I would still be free to leave my assets to whomever I wish, but my heirs will always have a legal right to contest the will.
It’s a common mistake for people to assume that after creating a trust, their work is done. If your assets are not properly titled to the name of the trust, a whole host of issues can arise when the time comes for trust to be administered. What’s worse is that the purpose for creating the trust could be defeated by failing to properly fund the trust.
Last week, the world was in shock when news broke about the sudden and unexpected death of pop icon, Prince. Prince died at his residence in Minnesota at the young age of 57.
As some mourned by flooding the internet with his greatest hits, others wondered about his estate. Prince had no known children, no current spouse, and no living parents. This leaves us all wondering: Who will receive his assets? Did he have proper estate planning in place?
When speaking with clients about the complicated Medicaid rules, availability, and exceptions, they often reply something like, “Wow, there’s so much to know.”
Clients come to us because we know the rules, and more importantly, we know the exceptions.
Millions of people use computers to conduct business and interact socially, and for general communications. Many of those computer users are registered in some way on dozens of websites, including social media outlets such as Twitter, LinkedIn, Instagram, and Facebook. With these outlets, not many users consider what happens when there is no longer anyone to maintain them.