You and your siblings have grown up and moved all over the country. You all still keep in touch, of course, but there’s a lot of distance between you. Your parents still live in your childhood home, though, and it becomes something of a touchstone for all of you. As...
Every year, there are celebrities who pass away. Those celebrities sometimes don’t have wills, and their life story reaches the media as family or friends attempt to obtain what they think they should as beneficiaries of the estate. Having money, being wealthy, being...
One of the difficult things about growing older is that at some point, you likely will need to become more involved in caring for an aging parent. You may realize your elderly parent can no longer make financial or medical decisions on their own. Maybe your mom has...
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...
