Losing a loved one can cause a great deal of grief, and this is not something that just goes away overnight. It may take months or even years for you to fully process the passing of your loved ones, and you will go through different stages of grief during this time....
Estate planning is especially challenging for wealthy people in New York and around the country. You could have dozens or even hundreds of high-value properties that you want to pass along to your loved ones. If you don't plan your estate carefully, federal and state...
Sometimes, heirs of a decedent may wish to contest the probate of a will. This usually occurs when heirs would be entitled to more of a decedent's assets if there were no will than the actual will bequeaths them. Individuals in New York and other jurisdictions should...
New York residents die intestate when they pass away without leaving behind a last will and testament. In these situations, state law determines how their assets will be distributed. Before this happens, a person must be appointed to administer the estate. This is...
Wealthy people in New York State need to be aware of the ways that tax laws can impact their assets. In 2016, the Tax Cuts and Jobs Act made it possible for high net worth people leave up to $10 million to people other than their spouses with no tax impacts. This...
If your parent wishes to allow a friend to live in their house after they die while still leaving their New York property to you, there are three ways that this can play out. Encourage your parent to think carefully about their estate plan and recommend that they see...
The executor of your New York estate is responsible for opening a probate case if you have assets that need to be probated. If your executor refuses to begin probate, he or she may be relieved of these duties. This is because failing to do so is likely in violation of...
Choosing the executor for your New York estate is a critical piece of estate planning. You want to make sure that you have selected trustworthy individuals to handle your affairs at the time of your passing. What is an executor? Estate planning involves the...
New Yorkers who are looking for a way to maximize their family's assets while minimizing what they pay in taxes may want to speak with a financial planner or an estate planning attorney. Before consulting a professional, you can start reading up on some options for...
It can take months or years for a probate case in New York or elsewhere to come to an end. Therefore, the possibility exists that a beneficiary will pass before he or she is able to receive any property. What happens to items that were intended for a deceased...
