What is probate? Probate is the legal process through which a deceased person’s estate is administered and distributed. This process involves validating the deceased’s will (if one exists), appointing an executor or administrator, paying outstanding debts and taxes, and distributing…
In today’s digital age, our online presence has become an integral part of our lives. From social media accounts to cryptocurrency wallets, we continue to accumulate a myriad of digital assets. But what happens to these assets when we pass…
The probate process is an essential part of estate administration in the United States. When an individual passes away, their estate must go through probate to ensure that assets are distributed according to their will or state law. The length…
In the state of New York, the probate process can become complex when a decedent’s last will and testament cannot be found. In such cases, a “lost will proceeding” may be initiated to prove the existence and validity of the…
1.What should I do immediately after a relative dies in New York? Immediately after a relative dies, you should: Notify family and friends; Make funeral or memorial service arrangements; Obtain a death certificate from the funeral director; Secure the deceased’s…
This article outlines the key aspects every New York trustee should know to fulfill their fiduciary duties and successfully manage a trust. A trustee is a person or entity entrusted with the responsibility of managing and distributing the assets of…
Fraudulent transfers have become a growing concern in Surrogate’s Court, the specialized court that deals with matters relating to estates and the distribution of property after a person’s death. As individuals seek to take advantage of the vulnerability of beneficiaries…
Business succession planning is a crucial process for New York businesses, especially for those with a significant number of family-owned establishments. This process helps ensure a smooth transition of ownership and management when the current business owner decides to retire,…