Estate planning aims to achieve a number of objectives including, but not limited to, designation of guardians, incapacity planning, asset protection, asset distribution and wealth maximization. It may involve various legal and financial instruments as well as complex tax...Read More
A joint will is a will that two or more people make together, rather than each making their own will individually. In practice, a joint will is typically created and signed by a married couple in order to dispose of property that they own together. This may seem like a good...Read More
Executing a will is the act of signing a will and making it legally binding. New York law has strict requirements for executing a will. First, a person executing a will must be at least 18 years old. The legal term for the maker of the will is Testator, and in New York a will...Read More
A will leaves the estate to named persons and organizations. Through a will, the testator can make specific gifts, distribute percentages of the estate, and create trusts for management and future distribution of all or some of the assets of the estate. But what if a New Yorker...Read More
Estate planning can be overwhelming for many people, in part, because good estate planning involves planning not just for foreseeable circumstances, but for unforeseeable ones as well. Below are several different topics to consider discussing with your New York estate planning...Read More
Estate planning is important regardless of your age or financial situation. It addresses the issue of who will handle your financial affairs and medical decision in the event you lose the capacity to do it yourself. It provides assurance that the needs of your young children will be met.
When a loved one passes away, his or her assets often need to be accounted for and distributed through a court-managed process. If there is a will, it is usually offered to the court for probate by an individual named in the will as the executor. If there is no will, a close relative, typically a spouse or a child, petitions the court to be appointed as the administrator of the estate.
Proper and timely estate planning is a great way to avoid future disputes and family turmoil. However, at times, even when your rights are adequately protected, estate challenges arise during the probate proceedings. Estate litigation is a complex area of law that concerns actions brought in court against the estate.