Dying without a will may result in your estate going to someone you didn’t intend to receive it, unnecessary estate taxes, delays in settling the estate, added estate expenses and leaving your estate assets without proper management and protection. If you die without a will, New York State law makes the decision as to the…
Q: My late father left his home to me in his will. However, the attorney for my father’s estate said my step-mother has rights to the house. How can this be possible? A: A common mistake in estate planning is the failure to realize that a will does not control the disposition of real estate…
The Supreme Court revoked a Power of Attorney in which the AIP, while competent, had designated her adult daughter to serve as attorney-in-fact, due to the daughter’s self-dealing and breach of her fiduciary duty, but declined to revoke the Health Care Proxy in which the AIP designated her daughter to also serve as her health…
Attorneys Robert Friedman and Michael Ranzenhofer were successful in having a power of attorney revoked. Our client’s mother, while competent, had designated her adult daughter to serve as her power of attorney and health care proxy. The daughter used her mother’s credit cards, automobile and bank accounts for her own personal use. A Mental Hygiene…
You should review your will with your attorney every few years or when there is: A birth or adoption A change of residence The executor, guardian or trustee named in your will become unavailable You or your beneficiaries’ financial worth increases dramatically A change in your marital status or that of a family member A…
Yes, you can disinherit your children but you cannot disinherit your spouse. Your spouse has a right to the greater of $50,000 or one-third of the value of your estate.
No. If you and your spouse bought your home together, she automatically gets ownership of it upon your death. But what if you both die together? The home that you worked so hard for might be sold and the proceeds controlled by a stranger until your children reach the age of eighteen (18), at which…
Any party to the proceeding, before or after filing objections to the probate of the will, may examine any or all of the attesting witnesses, the person who prepared the will, and if the will contains a provision designed to prevent a disposition or distribution from taking effect in case the will, or any part…
A joint will, also known as a mutual will, is a single will signed by both spouses which continues to be a valid document, controlling on the surviving spouse after the other spouse dies. Joint wills are authorized by New York state law. The joint will contains instructions which both spouses declare to be their…