Recently this blog covered what to expect during probate. As mentioned, probate can seem overwhelming, and you may not want to go through the time, expense and publicity associated with the probate process. Fortunately, there are some ways a person in New York can...
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Estate Planning
For love, now is the time to estate plan
Even though the last two years have seen an unprecedented interest in estate planning, according to Gallup, less than 46% of United States residents even have a will, let alone a full estate plan. And, this is an issue that follows us into our golden years as just...
What to expect during probate
Probate can feel like an overwhelming process, in part because it gets a lot of negative attention. There seems to be no end to articles about ways to avoid probate, but it can leave you wondering if probate is as bad as it seems. Unfortunately, probate always follows...
What does an executor do?
As part of the will drafting process, New York residents must appoint an executor. An executor is a person who will administer your estate after you pass away. It is important to choose an executor who you believe is best suited to carry out your wishes in the event...
Many New Yorkers will have estate tax liability
The federal government’s tax on the value of a person’s estate only applies to a handful of families. In 2022, the law assesses no taxes on an individual taxable estate of less than $12,000,000. Only a small minority of families will have to pay estate taxes to the...
Does BBB mean I need to revisit my estate plan taxes?
Every year and with every new administration, both state and federal law makers talk about changing the tax code. The most recent federal change was in 2017, but the most recent proposed change, at least on the federal level, is the Build Back Better Act. If passed,...
Asset distribution when there is no will
When a person passes away without a will, it can leave his or her family worried about what to do next. The estate will need to go through probate, which is the court process to administer the estate. The estate may include money, personal property, real property and...
An executor’s duties in New York probate
When a loved one dies with a will in New York, their estate must be probated. This can be a confusing time, especially if you are grieving your loss and have never gone through the probate process before. The situation may become even more confusing if you have been...
Three ways to pass your home to your children
Many parents are interested in passing their family home to their children. Their home has many special memories and passing this on the next generation can be special. A clear estate plan can help a family pass along a home, vacation property, etc. to their children....
How can our law firm help with home care coordination?
Many Woodbury area residents understand how difficult it can be to have an older relative. Typically, older people require more time and resources, whether it be drives to appointments, meal preparation, housekeeping, or more skilled nursing help. Navigating the...