Buying and owning property is mostly an exciting and fulfilling life experience. The only aspects of it that can feel dry and boring are the legal ones, which include everything from drawing up the initial deed to including it in your final will to be passed on after your death.
Of all the things you include in your estate plan—life insurance, bank accounts, jewelry, art/collectibles, investments, and furniture—the most important is your property, be it a residential house or a vacation home, or even a rental property. For your loved ones to enjoy these the same even after your death, you need to make sure all the legalities are in place.
Here are a few things to keep in mind while handling real estate:
DO: Place the Vacation Home in A Revocable Trust
If you want the next generation to truly enjoy the vacation home without carrying the baggage of legalities and responsibilities they didn’t exactly sign up for, placing it in a trust should help.
Firstly, it would escape lengthy probate. Secondly, you can specify exactly how you want the vacation home to be used and maintained during and after your life with a trust. And most importantly, with smart estate planning—we’re talking Qualified Personal Residence Trust, of course—you could also save estate tax significantly.
DON’T: Skip Out on A Will
Making a will may seem like a hassle, especially because it isn’t really necessary to pass down real estate. However, legal experts highly recommend it because it makes the whole process ever so easier.
Without a will, your property will still get passed on to your immediate heirs and relatives based on the law in your state, but in case you want a say in who ends up with what exactly, making a will is the only way to do it.
Through a will, you can keep the property from being split up, divide it the way you wish, or even pass it down to someone outside the family.
DO: Get A Property Lawyer on Board
From the moment you purchase the property to the time of your death, you need professional expertise on how to go about its legal paperwork in order to keep things streamlined.
There are many different kinds of deeds, and you may not know the ins and outs of each kind, so having a property lawyer to reviews and prepare the deed with you is a good step. Similarly, when you’re including your real estate in the estate plan, you need to have legal counsel to ensure that the property can pass on to your loved ones with minimal legal hurdles after your death.
So, if you’re in the process of creating an estate plan, get the experts on board.
Get in touch with us to learn more about our legal services.
When it comes to family law, the way you conduct yourself can make all the difference. Most of the time, your lawyer would tell you exactly what to say, do, or even wear to represent yourself well. Continue reading “3 Tips to Conduct Yourself in Family Court”
If you ask a person what they want to be remembered for when they’re gone, they’re most likely to say something sentimental like the memories of their loved ones or the legacy they’re leaving behind in the form of their children or their life’s work. But let’s be real. Continue reading “Why You Can’t Sleep on Estate Planning”
“Do I need a divorce attorney?” is probably not the question you thought you’d one day ask yourself back when you walked down the aisle or took your vows, but here we are. Continue reading “3 Reasons You Need A Divorce Attorney to Get Through This Tough Time”
Whether you have a large estate or a modest one, as the owner, you must settle all of your affairs while you still have the ability to do so. There are various issues and common mistakes that people make when it comes to estate planning. This blog will go over some of the issues to watch out for: Continue reading “3 Mistakes Made During Estate Planning”
The business succession process is relatively complicated, and apart from handing off the business to a new owner, there are various other aspects to consider. You will have to look into all of the assets, liabilities that apply for the move, ensuring that all the wealth you’ve amassed stays in the loop. Any carelessness could cost you a lot in the long run. Here’s what you need to work on: Continue reading “A Guide to The Businesses Succession Process”
Estate planning involves designating individuals who will be passed down your assets and who will handle your asset related responsibilities. Continue reading “5 Considerations to Make During Estate Planning”
A marriage is a legal union of two people who want to spend their lives together. There are certain rights and obligations of each spouse that have to be met. One of those rights is spousal support. The blog will discuss what spousal support is, its laws and principles, and how you can claim it.
What Is Spousal Support?
Spousal support is used interchangeably as spousal maintenance and alimony but there’s a difference. Spousal support is an amount paid by one spouse to another spouse during marriage and divorce proceedings, while spousal maintenance and alimony are paid after a divorce. According to Family Law, spousal support is a right and one should fight for it when marriage obligations aren’t being met. Our family lawyer can help you claim spousal support.
Laws And Principles Pertaining Spousal Support
The family court awards the spousal support since spouses have a legal duty to support each other financially. Furthermore, both spouses have to be alive to claim and receive spousal support. It has no term limit, and the spouse can receive the amount until the divorce or death of one of the spouses. Both the petitioner (the spouse claiming for spousal support) and the respondent (the spouse that supposedly ought to pay) can hire family lawyers.
How To Claim Spousal Support Or Maintenance
A spousal support case starts once the petitioner files a petition in the Family Court. The court then summons the respondent to be served. The judge or support magistrate decides the verdict after assessing the financial situation of each spouse. However, after a divorce, one can’t claim spousal support but can claim spousal maintenance during divorce proceedings.
Under the 2015 law regarding spousal maintenance, the amount is determined based upon each spouse’s income. You can use this calculator to determine your spousal maintenance amount. If you want to seek legal aid when claiming spousal support and maintenance, you’ll need the assistance of an experienced divorce attorney.
Ledwidge & Associates, P.C., is a trusted law firm in New York City that focuses on estate planning and Family Law Services Brooklyn and Family Law Attorney Queens. Our divorce attorney can serve spouses seeking a divorce in Brooklyn, Bronx, Long Island, Manhattan and Queens and guide them through the divorce process. Contact us now and our divorce attorney will gladly be of assistance.
You’re having major arguments with your spouse and have tried every possible solution to work it out. You’ve even gone for therapy, but nothing seems to help. You and your partner decide that it’s time to part ways.
Divorce is a sad but unfortunate solution to garner peace of mind and mental stability. Indeed, divorce rates have been increasing in the United States. But not many people are aware of the legal technicalities involved in the process to securing their rights.
Your Ex Will Be Out of Your Life for Good
This myth is a prevalent one among couples going for divorce. Most go into this process thinking they will never have to see their ex again. We’re here to break it to you; you’ll be seeing more of them than both of you will like, and that’s alright.
Divorce is more like the closure you both need to get through everything that happened between you. There will be countless discussions and documents to review and sign. Not to forget, both of you will have to be present at multiple hearings.
You Can’t Seek a Divorce if Your Spouse Doesn’t Sign
This myth stems from T.V. shows and movies where it is shown that if your ex does not sign the papers, you can’t legally part ways. This is not true at all. Especially in New York, your spouse does not need to sign any documents for you to seek a divorce from them.
The legal requirements for divorce in New York include proof of residency based in New York and divorce grounds.
Divorce Is a Legal War
Divorce does not always have to be a legal battle. Sometimes, it can simply be an amicable solution between two parties. Going into a divorce with a civil outlook can increase the chances of reaching a mutually beneficial solution.
You Don’t Need a Lawyer to Get Through Divorce
This isn’t a misconception, but it can be recommended for those looking to reach a divorce settlement quickly and efficiently. Divorces can become long-drawn-out, with proceedings going on until the end of time. When you hire a divorce lawyer to assist you, it can have multiple benefits, such as a likely chance of mediation or reaching a negotiation.
At Ledwidge & Associates, P.C., we are a law firm with the skills and knowledge base to guide you through this difficult time. Our expert lawyers can help alleviate the stress by efficiently handling the process. Our services include estate planning, family law, litigation law, real property law, and many more. Get in touch with us to book a consultation today.
Very often, it happens that the beneficiaries aren’t satisfied with an administrator. Whether they aren’t happy with how they handle the probate process or how they breach their fiduciary duties, this can become a ground for removing an administrator.
But do beneficiaries have the right to challenge the administrator’s actions in court? Can heirs request the removal or replacement of an administrator?
This blog gives you an insight into whether beneficiaries can legally remove a personal representative or not and how they can go about this legal process.
Beneficiaries Right to Administrator Removal
While the deceased person or the court might have nominated an executor or administrator, the beneficiaries do have the right to request their removal/replacement. The beneficiaries need to sign a petition, asking the court to review and replace the administrator or executor’s appointment.
The court itself has the power to analyze the administrator’s performance and replace them if the need arises.
The Need for a Valid Reason
While the beneficiaries have the right to call for the removal of an administrator, they need a valid reason for this petition. Beneficiaries are required by law to submit documents and evidence with regards to the administrator’s misconduct. Beneficiaries can submit this petition on the following grounds:
- Disputes with beneficiaries
- Disputes with co-executors
- Breaching fiduciary duties
- Mismanagement of estate
- Using estate funds for personal interests
- Not complying with the court’s orders
The heirs or the beneficiaries should provide strong evidence to support their petition. Moreover, in some cases, they can also submit a petition for a new administrator’s appointment.
Once the petition has been submitted along with the required evidence, the court reviews the request. If the jury finds the executor or the administrator guilty of misconduct or having disputes with heirs or other executors, they can replace the personal representatives. The court may suspend them from their fiduciary duties and issue a citation for a new administrator’s appointment.
A probate lawyer can streamline the probate process for you. At Ledwidge & Associate, P.C., we have some of the most competent lawyers in Queens and Brooklyn, New York. Whether you want to hire a probate attorney Queens and probate attorney Brooklyn or need to get in touch with a litigation attorney, our lawyers will be your best bet! We have years of experience in dealing with legal cases and coming up with practical solutions that are in line with the state’s laws.
Give us a call at 347-395-4799 to discuss and solve your legal affairs.
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