For many, taking up the role of an executor of state would be something honorable. The position is often assigned to a family member or friend of a deceased person who was close and trustworthy to the deceased person. That being the case, the role used to be entirely voluntary and was not something you got compensated for. After all, it was something you were doing for a loved one who had passed away. This, however, Read More
3 Key Reasons You Should Create an Estate Plans for Your Future
When we talk about estate planning, many people immediately associate it with the ultra-rich. However, contrary to popular belief, anyone can benefit from having an estate plan no matter what their net worth is. According to Forbes, only 42% of the adults in the United States currently have an estate plan such as a living trust or a will. While end-of-life planning can be depressing and seem morbid, it is Read More
Why You Need a Probate Lawyer to Figure Out Your Estates NOW
Okay, maybe we went a little overboard with the NOW, but you do need a probate lawyer—sooner better than later. One day you will need your estates, assets, and other particulars to be sorted out. Imagine not taking the right step at the right time for your posthumous affairs and all potential candidates end up fighting among themselves. But this isn’t Game of Thrones—and you have probate lawyers who can help you Read More
When Is Probate Not Necessary In New York?
When you're planning your estate, your goal should be to spare your family and legal heirs the hassle as much as you can. The probate court proceedings could be very extensive, costly, and complicated. If you're based in New York, here's when you can avoid probate: Joint Ownership If you jointly owned property with your deceased spouse, the probate process won't apply if you had 'rights of survivorship.' In this Read More
An Overview of the Probate Process in New York
In New York, probate is necessary for assets solely owned by the deceased and haven’t been legally bequeathed to a designated beneficiary. This means that if the property owner passes away without a written will, the probate court will distribute the estate according to the state laws. However, if the property holder leaves behind a will that stands uncontested, the probate has a limited role to play. What Are Read More
Does New York State Probate Law Allow Vacating of a Probate Decree?
One question that can arise as a result of the will probate process in New York is whether New York State probate law allows for the vacating of a probate decree. The purpose of the probate process is so the probate (surrogate) court and the assigned judge can review the will to determine whether it is valid and ensure that the complex process is adhered to correctly. During the probate process, there are specific Read More
