estate planning and probate Archives

Addressing an estate dispute with your sibling

From tough decisions that have to be made while creating an estate plan to hurdles that surface once a loved one passes away, there are many legal considerations for people who are dealing with estate planning and probate matters. Unfortunately, some of these matters can lead to bitter disagreements that often involve family members, such as a sibling. There are a number of reasons why families in New York may run into these problems and in this write-up, we will look at how they can affect sibling relationships.

When an executor breaches their fiduciary duties

Estate planning and probate can be tough for many reasons, emotions can run high and all people involved may be confused about certain facets of the process. Setting up and modifying an estate plan can be tricky, but it can also be difficult for people to deal with an estate following the loss of their loved one. Not only is this true for executors, but beneficiaries may also face challenges. For example, an executor may fail to live up to his or her fiduciary duties, at which point beneficiaries and those concerned should look into their options and handle the issue promptly.

Divorce, your estate plan and beneficiaries

A number of different life changes may necessitate revising your estate plan, but the end of marriage is a particularly common reason for going over a will or creating a new trust. There are a number of ways in which divorce can lead to changes with respect to a person's estate plan, such as removing someone who they named as the executor, but we will focus on beneficiaries in this post.

Stress, high-asset divorce, and estate planning

We have covered quite a few different topics related to estate planning on this blog, but this post will focus on estate planning issues that affect those with a high net worth. For people with significant assets, estate planning can be especially stressful and may even be challenging at times. Moreover, those who are struggling with a recent divorce can be particularly unsure of which course of action makes the most sense. As if a high-asset divorce is not tricky enough, the estate planning questions that may arise as a result of a couple bringing their marriage to an end may further complicate things.

Adopting an adult and estate planning

We have discussed different issues with regard to estate planning, but a number of other decisions may have to be made by those who are creating or reviewing a will or trust. For example, some people may choose to adopt an adult as an estate planning tool, but it is important to bear in mind that there are certain considerations which should not be overlooked when it comes to adult adoption.

What is a supplemental needs trust?

There are all sorts of trusts that people are able to set up in order to make sure their loved ones are able to receive their property once they pass away. For some people, unique situations require an even closer look at different types of trusts, such as those who have a loved one with a permanent mental or physical disability. For some people in this position, a supplemental needs trust, also known as a special needs trust, may be very beneficial. However, it is vital to look at the ins and outs of this type of trust beforehand.

Different ways a car crash can affect an estate plan

After a motor vehicle crash, all sorts of questions may arise and a victim (as well as their family members) may be unsure about how life may change. Aside from the physical and emotional consequences of a crash, brought on by a debilitating injury or the loss of life, there are other ways motor vehicle collisions can turn lives upside down. For example, an estate plan such as a will or trust could be impacted by a traffic collision. If you were involved in a wreck or someone close to you was injured or killed in a crash, it is important to handle any estate-related matters appropriately.

Estate planning and minimizing taxes

Many facets of estate planning have been covered on this blog, such as issues involving the naming of beneficiaries or an executor and estate-related disputes. However, there are many other issues with regard to estate planning that you may need to closely consider. For example, you could be worried about the tax consequences associated with property that you leave behind for your loved ones. When it comes to estate taxes, the laws vary from state to state and there are many factors to consider, so it is important to review your situation from a unique standpoint.

Going over your will after divorce

In a recent blog post, we addressed some of the reasons why people take a second look at their estate plan. For many people, divorce becomes necessary at some point, although the end of a marriage can bring up uncertainties with respect to one's estate plan. If you have a will, for example, there are a number of factors that could prompt you to make revisions once you and your spouse split up. For example, you may need to remove your spouse from the will as an executor or as a beneficiary. For couples across New York, divorce can be a challenging time, but these crucial matters should not be overlooked.

The importance of updating your estate plan

We have covered many different facets of estate planning on this blog, but there are a number of other considerations to keep in mind with respect to your estate. For example, there are times when it may become necessary to review and modify your estate plan, whether a child was born, you have found yourself in a new marriage, you have relocated to another state, or a number of other circumstances have necessitated the revision of your estate plan. Moreover, there are a number of reasons why it is so crucial to make these revisions.

  • NYSBA
  • Brooklyn Bar Association 1872 Justice Integrity Honor Courtesy
  • National Italian American Bar Association Representing The Italian American Legal Community
  • Columbian Lawyers Association of Brooklyn
  • Columbian Lawyers Association of Rockland County
  • The Copyright Society of the USA
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