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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.
How do you properly revoke a Will?
Revocation of Wills is addressed in EPTL Article 3-4.1 and explains that there are various ways that a will can be revoked or altered....
Pet trusts: Caring for your fur babies.
Honorary Trusts for Pets is addressed in EPTL Article 7-8.1, which allows for New York pet owners to create a trust fund for their furry...
What are Charitable Lead Trusts (CLT) and Charitable Remainder Trusts (CRT)?
A CLT is a type of split interest trust where a charity has the initial interest in CLT property while the remaining property is either...
What are the differences between Medicaid and Medicare?
Not all of us are fortunate enough to be able to independently cover our health care costs as we age. Whether due to the rising cost of...
What is testamentary capacity and why does it matter?
Testamentary capacity refers to an individual’s mental and legal ability to create or alter their will. The testator, the person making...
Why does the Surrogate Court impose bond requirements on its fiduciaries?
The Surrogate’s Court is responsible for overseeing the affairs of decedent’s, including administration of estates, trusts, and...
How do I object to the probate of a Will?
A Will contest is a legal proceeding in the Surrogate’s court that is available for an individual who seeks to question the validity or...
What is the purpose and benefit of having a Supplemental Needs Trust?
A Supplemental Needs Trust (SNT), also known as a Special Needs Trust, is designed to manage assets and provide for the financial needs...
What inheritance rights does a surviving spouse have in New York?
Absent a premarital agreement or other marital waiver, a surviving spouse is entitled to the greater of $50,000.00 or one-third of the...
How should I handle digital assets?
In today's increasingly online world, it is very common for people to pass away with digital property. For example, it is likely that you...
Why Place a Power of Appointment in a Will or Trust?
A power of appointment in a Will or Trust allows the testator (the person making the will) to give someone else the power to decide how...
What are per stirpes and per capita distributions and how do they affect an estate plan?
There are two regimes that work independently and together to allocate shares of a decedent's intestate estate. The per capita regime...
What Is A Bypass Trust?
A married couple may use a bypass trust to protect their assets and to preserve the federal and state estate tax exemptions. Upon the...
Which types of assets belong in my Will?
Only probate assets, such as real property titled in one's own name or as tenants-in-common (no joint tenancy), personal property, bank...
What are the benefits of forming a living trust?
A revocable or living trust allows the trust creator to hold assets in the name of the trust which are transferred to a successor trustee...
Why do I need a Will?
You need a Will in order whenever you anticipate giving away probate assets (assets that do not pass by beneficiary forms) that are in...
What does an Executor do?
An Executor is an important part of your estate as a fiduciary who is in charge of collecting your assets, paying taxes and debts, and...
How can a Medicaid Asset Protection Trust (MAPT) help protect my assets from Medicaid?
Medicaid is a state sponsored program where...
What are the benefits and requirements of a Prenuptial Agreement ?
A Prenuptial Agreement (or “prenup”) is a contract between between a couple before they marry. In New York, a prenup is only valid if it...
How are Executors and Administrators appointed?
In New York, you either have an estate plan or the state has one for you through an administration proceeding, which can have adverse...
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