Organizations receive millions from New York estate

From the planning stage to administrating an estate after someone passes away, it is crucial for people to approach the estate process carefully. In Jamaica, and other parts of New York, those who set up a trust or will may have a number of motivations. For example, they may wish to have some of their assets distributed among family members  or to a cause they support. For those who are responsible for handling an estate after someone passes away, it is very important to make sure the estate is properly managed.

A number of organizations recently received millions of dollars from the estate of a New York woman who passed away during 2014 and was passionate about the arts. Before she passed away, she prepared a will, which requested that two of her friends donate a portion of her estate to various organizations which promoted literature.

Some of the organizations that have received donations from the woman’s estate include a museum that received $2 million, a community center that was given $7 million and a theater, which was given $5 million.

For those who have been put in charge of distributing an estate’s assets as well as those who are in the early stages of setting up an estate plan, identifying the best course of action can be challenging. As a result, many people who have difficulties related to an estate decide to turn to an attorney, which may help them figure out how to address any obstacles they are facing.

Source : The New York Times, ” Estate of Amber Lightfoot Walker Gifts $15.5 Million to Support Literature, ” Andrew R. Chow, Jan. 15, 2017