Navigating the complexities of Estate Planning, Trust Settlement, Probate Proceedings, Administration Proceedings, and Marital Agreements can be overwhelming, but having the right legal guidance makes all the difference.
Exempt property for the benefit of family as set forth in EPTL Article 5-3.1 explains that if a person dies leaving a surviving spouse or children under the age of twenty-one, then certain property items are not considered assets of the Decedent’s estate and instead, are passed down to the Decedent’s surviving spouse or children. During the settlement of the Decedent’s estate, exempt property is deemed as being reasonably required for the support of the surviving family. The
