A will is a basic document that contains your instructions with regard to the distribution of your assets in the event of your death. However, there are numerous other issues that are dealt with during the course of estate planning. The following are some other issues that you may have to deal with. Who will take care of your children (if they … [Read more...]
Estate Litigation In New York
The purpose of estate planning is to develop a plan that minimizes or avoids estate litigation. However, if you are an heir, a creditor, a family member, a child, or a spouse of someone who died and you feel that you have been treated unfairly and/or there has been undue influence fraud or duress, a will proceeding, administration proceeding or … [Read more...]
Surviving Spouse’s Right of Election
New York has a special statute which protects spouses from being disinherited. The name of this statute is called “The Right of Election”. Under this statute a spouse is entitled to a minimum “elective share” of the assets of his or her spouse. If a spouse is disinherited in a will or trust and or the spouse receives less of the decedent’s estate … [Read more...]
VIDEO: Challenging A Will Is Possible!
VIDEO: What’s Involved in Preparing A Will in New York?
Elliot Schlissel discusses what is involved in preparing a will in New York. … [Read more...]
Accounting Proceedings
The individual in charge of gathering the assets in an estate, trust or a will is called a fiduciary. Fiduciaries have administrative duties to see to it estates, wills and trusts are handled appropriately. They have a special responsibility for dealing honestly and responsibly with the estate assets. They often are responsible for collecting, … [Read more...]
WILL ADMITTED TO PROBATE OVER OBJECTIONS
In a case before Surrogate Robert Gigante, Pending in Richmond County (Staten Island) Judge Gigante dealt with challenges to the probate of a will based on undue influence and failure of the will to be properly executed. The will was submitted for probate by the decedent's brother. The decedent's children objected to the probate of the will. The … [Read more...]
President Obama Orders the Creation of New Retirement Accounts
On Wednesday, January 29, 2014, President Obama gave his State of the Union address. During the course of his address, he ordered that a new type of employer sponsored saving account be created for the purpose of helping people save for retirement. The President suggested creating this new class of retirement saving account would help middle class … [Read more...]
Retirement Problems
Do you have enough money to retire? This is a question baby boomers are starting to think about. How much money do you need before you retire? What is the best way to plan for retirement? When Should You Start Saving? Experts agree that you should start saving for your retirement as early as possible. The longer you defer putting aside money in a … [Read more...]
Trust Documents Declared Void Due to Lack of Mental Capacity
In a case before Robert Gigante, sitting in Richmond County, New York, the Surrogate Judge had set aside a trust based on the lack of mental capacity of the individual who executed the trust. One of the decedent's children contacted a lawyer and requested the trust document to be drafted. The lawyer drafted the documents pursuant to the request of … [Read more...]
