Estate planning in New York is essential for the efficient settlement of a decedent’s estate.  The New York Probate Lawyer Blog has published many articles regarding planning an estate.  The various documents which may be prepared as part of a plan include a Last Will and Testament, Living Will, Health Care Proxy, Power of Attorney and Living Trust.  In short, these papers can be described as follows: Last Will and Testament: contains various provisions detailing a testator’s intentions and directions for the disposition of assets which are owned by a person in his name alone ..read more

The probate of a Last Will and Testament is essentially the procedure by which a Will is validated by the Surrogate’s Court.  The New York trust and estate laws contain many provisions which are intended to protect the sanctity of a Will and insure that the intentions of a decedent are carried out. First and foremost are the provisions contained in Estates, Powers and Trusts Law Section 3-2.1 entitled “Execution and attestation of wills; formal requirements.”  This statute sets forth the various requirements for the signing of a Will.  There is a requirement that the Will be wri ..read more

Estate planning in New York is important for the proper disposition of a person’s assets.  Planning an estate encompasses a broad array of considerations.  The New York Probate Lawyer Blog has published many articles on this topic.  Initially, the preparation of a Last Will and Testament is the central document when creating a plan.  A Will disposes of assets that are owned by a testator at death in his name alone.  Thus, assets which pass automatically to others by operation of law such as joint property or items which have designated beneficiaries such as retirement ..read more

Estate planning in New York involves many different aspects.  Initially, a person needs to consider and develop the manner in which an estate is to be distributed.  Decisions need to be made concerning the various beneficiaries who are to receive distributions.  Also, the amount of payment to each beneficiary under a Last Will and Testament must be decided upon.  Another aspect for review involves whether or not a Will should contain a testamentary trust in which the beneficiaries’ share would be held rather than paid out immediately in one lump sum.  A trust can be es ..read more

Estate planning in New York is important for many reasons.  Primarily, when a person plans their estate, they are ultimately creating documents and situating assets to reflect their intentions regarding the ultimate disposition of these items.  Nowadays, estate planning is often viewed as a broader topic and includes papers that are referred to as advance directives.  These would include a Power of Attorney, Living Will and Health Care Proxy.  The more traditional estate planning papers include a Last Will and Testament, and possibly a living revocable trust or even an irre ..read more

Many articles have been written about New York estate planning when a couple is considering or entering into a divorce.  The New York Probate Lawyer Blog has published a number of articles on this topic in the past.  However, it is important from time to time to review this information. Spousal rights are a very special area when considering estate issues.  This is due to the fact that New York estate laws provide a surviving spouse with certain rights, most importantly a spousal right of election.  This prevents a surviving spouse from being disinherited.  Estates, Po ..read more

One of the benefits from implementing a New York estate plan and preparing a Last Will and Testament is the ability of a testator to select an executor.  This option does not exist when a person dies intestate without a Will.  In such a situation, the estate administrator is determined pursuant to the estate laws contained in Surrogate’s Court Procedure Act Section 1001 entitled “Order of priority for granting letters of administrations”. The selection or nomination of an executor, as well as a substitute executor, is a very important aspect of Will preparation.  Such person, on ..read more

Estate planning in New York encompasses many types of considerations.  The most common way to plan an estate is to prepare a Last Will and Testament.  When a person dies, a Will must be filed with the Surrogate’s Court to be validated.  This is known as the probate process.  Probating a Will involves filing a petition with the Court.  All of the decedent’s next of kin must be given notice of the proceeding.  Most probate matters are rather routine, and the Will is admitted to probate, and letters testamentary are issued to the nominated executor.  The New Yor ..read more

It is apparent that the preparation of New York estate planning documents is important.  A lot of time and effort can be expected in connection with reviewing assets and financial interests, figuring out the manner in which dispositions are to be made to beneficiaries and implementing the papers and documents to formalize the plan.  In view of the commitment to start and finish this procedure, it is equally important to make certain that the documents that are prepared are correctly and properly created and also executed. While there are many considerations involved in the above proc ..read more

Estate planning is very important and may be accomplished by the creation of a number of documents.  These papers include a Last Will and Testament and a lifetime trust which may be revocable or irrevocable.  Advance directives in the nature of a Living Will, Power of Attorney and Health Care Proxy may also be considered as part of an overall plan.  The New York Probate Lawyer Blog contains numerous posts dealing with planning an estate in New York. Due to changing circumstances, a Will or a trust may need to be modified.  Such circumstances may include the death or incapac ..read more