Surrogate Judge Rita Mella sitting in the Surrogates Court of New York County recently granted an application by co-trustees of a trust to terminate a trust. The trust was created pursuant to the decedent’s will. The purpose of the trust was to benefit a variety of individuals and charities. The trust called for the beneficiaries of the thrust to … [Read more...]
Walk Through of Decedent’s Home To Discover Assets Denied
A petition was brought to Gutierrez before Surrogate Rita Mella in the Surrogate’s Court of New York County. Gutierrez claimed he had personal possessions which were in the home of the decedent at the time of decedent’s death. The executor, Berlin, a sister of decedent asked the court to dismiss this discovery petition. The decedent had left a … [Read more...]
What is Needed During a Probate Proceeding?
A probate proceeding is a proceeding brought to see to it that a Will is accepted as being valid by the Surrogate Court in New York State. The best way to start a probate proceeding is to visit several attorneys and hire an experienced, dedicated estate lawyer. Make sure when you hire this lawyer, that he or she has been doing this for a minimum of … [Read more...]
Why Should You Have A Will?
To watch today's video blog, please click on the link below: https://youtu.be/SsAzKSway8I Elliot S. Schlissel is a member of the National Academy of Elder Law Attorneys. Elliot and his associates have more than 100 years of combined legal experience representing clients with regard to all aspects of wills, trusts, and estate matters. … [Read more...]
Wife Held in Contempt for Failure to Turn Over Funds Pursuant to Court Order
Surrogate Nelida Malave-Gonzalez sitting in Bronx County recently found a wife in contempt for failure to abide by court orders. A proceeding was brought to find the wife in contempt with regard to her failure to abide by a court Order of April 28, 2010. This court Order required her to turn over $102,395.36 to her husband’s estate. The wife failed … [Read more...]
Will Leaving $100,000 to a Cat is Upheld
Charlotte Stafford had three nephews and a cat. She left her cat, Kissiemeouw, $100,000 and she disinherited her three nephews. Nephews Challenge The Will The nephews challenged the will. They claim their aunt did not have the mental competency to make a will. The attorney who drew up the will testified Charlotte Stafford was “very aware and … [Read more...]
Reverse Mortgages
A reverse mortgage is a means by which seniors utilize the equity in their homes. The equity is turned into cash. It can be used to supplement social security, pension payments, and 401K plan withdrawals. In most situations, the proceeds of a reverse mortgage are taken out in a lump sum. Arrangements can be made to have periodic payments over … [Read more...]
Retirement Mistakes
Don't make mistakes regarding your retirement. Your senior years should be enjoyable, relaxed and stimulating. They should not be frustrating and worrisome times. Have Sufficient Assets and Cash Flow You should not retire unless you have enough savings, pension, funds or 401K funds to support your lifestyle. Social Security alone will not be … [Read more...]
Good Will Hunting
If you have assets, young children, and/or a house you should have a will. So you have a will. That's great! Have you updated your will within the last two decades? If your will is more than 10 years old, you should consider updating it. Changes In Your Life As you grow older, the reasons for writing a will may have changed. You initially … [Read more...]
Is Social Security a Ponzi Scheme?
Republican politicians have recently referred to Social Security as a "Ponzi scheme". This is an absurd misrepresentation of a program that has helped keep many of America's senior citizens out of poverty. Rick Perry, the governor of Texas, in a recent debate, stated "it is a Ponzi scheme to tell our kids that are 25 or 30 years old today, you're … [Read more...]