If you have set up a New York Living Trust, you are probably seeking to avoid probate, as well as name someone to manage your affairs in the event you become incapacitated. After you have set up your Living Trust, it’s important that you take a few follow-up steps so that everything will proceed smoothly […]
When someone dies in New York leaving a Will, in most cases that will has to go through a legal process called probate. For the probate process to begin, the Will has to be shown to be valid in the Surrogate’s Court in the county where the individual who died was a resident. In order […]
One of the biggest reasons people choose to do estate planning is the thought that their children may not be protected in the event of their deaths. Unfortunately, if both parents were to pass away while their children are minors, and they have not done any type of estate planning, many decisions concerning where the […]
A life estate deed is a tool that can help with estate planning. With a life estate deed, people deed real estate to another party, but reserve a life estate, which means they have the legal right to occupy the property until death. Upon death, the property passes to the beneficiaries. Life estate deeds can […]
The person in charge of the probate process in New York depends on whether or not there is a will. If there is a will, the person named as executor in the will is in charge of the estate and the probate process. If there is not a will, the court will choose someone called […]
It can be very tempting for many people to save money by drafting their own estate planning documents, including Wills, Trusts, Living Wills, and Powers of Attorney, using a computer program rather than spending more money to hire an attorney. It is better to spend a little more money and hire an estate planning professional. […]
Many people use the terms “living trust” and “living will” interchangeably. Although both contain the word “living”, they are very different legal documents that accomplish different goals. A person may prepare both a living trust and a living will as a part of an estate plan. A living trust is a document that a person […]
Many clients are fearful about their loved ones going through probate when they pass away. They may have heard horror stories about how complicated, expensive, or time consuming probate is. Whether your estate has to go through probate depends on which assets you own, how they are titled, and whether you have completed transfer on […]
A properly drawn will is the only way to be sure that your property at your death goes where you want it to go. By executing a will you may dispose of real and personal property at your death in the proportions and to the persons you wish; appoint competent and trustworthy executors, trustees and […]