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Surveys have shown that many American adults -- perhaps as many as 60% -- do not have a will or any plan for their estates. Many people think they're too young for estate planning, or that they don't have enough property to make the process necessary. Many more simply...
Litigation over a will can be extremely difficult and expensive, and it can tear families apart. No rational person wants that kind of mess to be their legacy, and so many people who are planning their estates look for ways to reduce the possibility of probate...
After a person dies, their estate goes through probate. You have probably heard of probate but may be unsure of what it is or what the process involves. Perhaps you have heard that you should try to avoid the probate process because it is lengthy and complicated....
A will specifies who will inherit your property, who will take care of your minor children, who will administer your estate and how your debts and taxes will be paid. The basics You can include any property that you own solely or jointly. You can also include any...
There are many factors to consider when taking the necessary step of estate planning in New York. Most will think about their own situation and decide whether they need a will, a trust, a guardianship and other key aspects of a comprehensive plan. A crucial part of...
Most New Yorkers view the signature on a relative’s will as the deceased person’s last works on how their assets will be distributed. In some cases, however, one or more prospective heirs are displeased by the terms in the will. Their only remedy is commencing a...
There’s a lot of different ways to direct your assets once you pass away. While these options are great in that they allow you to custom tailor your estate plan to suit your needs, the complexities of it all can feel overwhelming. Don’t let that fact drive you to...
Recent surveys indicate that only about one-third of Americans have a will. A common question is what happens to the assets belonging of those who die without a will. Intestate laws Like every other state, New York has laws — known as intestate laws — that specify how...
When an individual executes a trust instrument or a will, their intent is to have their assets distributed according to their desires. They may fear that their directions will be challenged later in court, leading to infighting among beneficiaries. To prevent this,...
For many, probate court is one of the arduous aspects of estate administration. Probate is time consuming, public, and costs money. Thankfully, prudent estate planners can avoid probate in New York. Here are three such ways: Trusts Estate assets can be transferred...
