Powers of attorney are agreements where a person is empowered to act on your behalf in matters of your estate, insurance, taxation, and other specified tasks. There are two types of power of attorney agreements, immediate powers of attorney and springing powers of attorney. With an immediate power of attorney, you give another person, often […]
Individuals and families in Buffalo are increasingly turning to the use of trusts to secure their estates and futures rather than relying on wills. There are many advantages both to the owners of the trusts and their heirs. First, use of trusts prevents a potentially lengthy probate process or the risk of a contested will […]
In New York, the ownership of one motor vehicle having a value of $25,000 or less automatically transfers to the surviving spouse (or to the surviving children under the age of 21 if there is no surviving spouse or the spouse is disqualified). For surviving spouses to transfer ownership, they must print the deceased spouse’s […]
“How NY Real Estate Investors Can Avoid Probate & Estate Taxes” will be presented by Robert Friedman of Friedman & Ranzenhofer, PC, PC, PC Attorneys at the Buffalo Investors & Exchangors Group meeting on October 21, 2014 at 7:00 PM at the Millennium Hotel, 2040 Walden Avenue, Cheektowaga, NY. Drawing on over 35 years of […]
The following events may require you to update your New York will so that it is coordinated with your other estate planning documents and non-probate assets. This will ensure that your wishes are carried out. There is a major change in your assets or financial status, such as the purchase or sale of real estate. […]
Yes, in a recent case plaintiffs sued their brother for fraudulently diverting their late mother’s New York home to himself. While the mother was recovering from a stroke in 2003, he obtained her signature on a power of attorney and a deed. However, the son testified that he was not ready to own the premises […]
Why do I need to do a Pour-Over Will if I do a Living Trust in New York? Your estate planning attorney may have recommended that you do a revocable living trust as the key document in your estate plan, rather than a Will. A revocable living trust, if done correctly, will allow your estate […]
Under New York law, a non-New York resident is allowed to be an Executor, Trustee, or Administrator of a New York trust or estate. If you are not in New York and have been named as Executor, you may feel overwhelmed and may be unsure of what to do. Fortunately, most of the correspondence and […]
If a Will in New York was properly executed in the presence of an attorney, it’s presumed to be valid. If the Will was signed correctly in front of witnesses, but the signature was forged, the heirs of the decedent may have grounds to challenge the Will. The signature on the Will may not have […]