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.
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 […]
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 […]
For your convenience, I have prepared a list of estate, guardianship and probate related New York legal forms that you can download and use for free. Some of the forms are provided by the New York State Court System while others are provided by attorneys. If you have questions after reviewing a form, I urge […]
I recently represented the Administrator of a Kings County estate in litigation against his former attorney. The attorney had represented the Administrator in the sale of estate real property and deposited the proceeds in his attorney escrow account.