Deciding Domicile for an Estate: Residence versus Domicile

The estate details of famous actress and comedienne Joan Rivers are largely unknown. The public is aware that she left her $150 million estate to her family, friends, employees, and charities but the provisions are largely unknown because they were placed into a blind trust. However, her will became public when it passed through probate, […]

Children of Decedent Fail to Defeat Presumption that Father’s Later Marriage is Valid

The decedent’s surviving spouse, Aquije, filed a petition for letters of administration with the Nassau County Surrogate’s Court. The decedent’s children from a previous marriage filed objections alleging that their father’s first marriage in 1969 in Chile was never dissolved, hence, the marriage to Aquije was not valid.

Executor Held Liable for Breach of Fiduciary Duty – Lack of Due Diligence in Sale of Real Property

The executor, Mahler, entered into a contract to sell the estate’s real property with Basile, the executor’s personal acquaintance. The real estate agent, Azzato, was also an acquaintance of the executor. Basile purchased the property for $670,000 and sold it three days later for $1.3 million.

Big Changes to New York State’s Estate Tax Laws – beware of the cliff!

As expected, the final New York State Budget legislation passed on March 31, 2014 and it includes the biggest changes to the estate tax laws in decades. Before the change, a decedent domiciled in New York State at the time of death whose estate exceeded one million dollars ($1,000,000) in value was subject to New York’s […]

Family Rights to Decedents’ Estates – New York Exemptions for the Benefit of Family

Under New York Estates Powers and Trusts Law (EPTL) 5-3.1, when a person dies leaving a spouse, or he or she dies without a spouse but leaves children under 21, specific assets are deemed to pass to those family members outside of the decedent’s estate, without an executor or administrator being appointed to manage those […]