When establishing a trust, it is essential to choose the correct trustee to help manage it. A trustee is an individual or entity entrusted with managing and administering a trust according to its terms and the best interests of the beneficiaries. The Role of a Trustee Selecting the Right Trustee Selecting a trustee is a critical decision in the estate …
What’s the difference between per stirpes and per capita distribution?
One of the key considerations in estate planning is deciding between per stirpes and per capita distribution methods. While both approaches aim to distribute assets among descendants, they differ significantly in their execution and implications. It’s important to understand the difference between both distribution methods when deciding how you want your estate to be administered. Per Stirpes Distribution Per stirpes, …
O.J. Simpson’s Estate Battle
O.J. Simpson’s Estate Battle O.J. Simpson, once known as “The Juice” for his illustrious football career and later as a Hollywood personality, faced legal troubles in the 1990s. In 1994, he was tried and acquitted of the murders of his ex-wife, Nicole Brown Simpson, and her friend, Ron Goldman. However, in a subsequent civil trial in 1997, he was found …
How to Avoid Family Disputes During the Probate Process
The death of a loved one is heartbreaking. In the midst of grief, families often find themselves confronted with another complex problem: probate. In the state of New York, probate—the legal process of validating a will and distributing assets—can sometimes lead to family disputes, further adding to the stress during an already difficult time. In order to avoid fighting with …
What is a revocable versus irrevocable trust?
In the estate planning world, trusts are powerful tools to manage assets, protect legacies, and provide for loved ones. For individuals in New York, two common types of trusts often come into consideration: the revocable trust and the irrevocable trust. Both trusts offer their own advantages. It’s important to know the difference between the two in order to decide which …
Navigating Wendy Williams’ Guardianship
In the realm of entertainment, few personalities shine as brightly or provoke as much discussion as Wendy Williams. From her unfiltered commentary to her fearless approach to celebrity gossip, Williams has carved out a unique niche in the industry. However, the release of her new documentary titled, “Where is Wendy Williams?” has sparked controversy and raised concern about Williams’ autonomy …
Understanding Probate in New York
When a loved one passes away, their estate typically goes through a legal process known as probate. Probate is a court-supervised procedure that ensures the deceased person’s assets are distributed according to their wishes or according to the state’s laws if there is no will. The probate process in New York begins by filing a petition with the Surrogate’s Court …
The Benefits of Having a New York Will
A will is a crucial legal document that ensures your assets are distributed according to your wishes upon your death. In the state of New York, having a well-drafted will provides numerous benefits and advantages for individuals. Some of those benefits include the following: Control Over Asset Distribution: By having a New York will, you retain control over how your …
The Process and Potential Challenges of Estate Litigation in New York
Estate planning is a crucial step in securing the financial future of your loved ones. However, even with careful planning, disputes and conflicts can arise during the administration of an estate. Estate litigation, a legal process to resolve disputes related to wills, trusts, and estates, is a common occurrence in New York. In this blog post, we will explore the …
The Role and Function of the New York Surrogate’s Court
The legal system can be complex and multifaceted, with various courts designed to handle different types of cases. One such court that often garners attention but remains lesser-known is the New York Surrogate’s Court. The New York Surrogate’s Court is a specialized judicial body that deals primarily with matters related to wills, trusts, guardianships, and the administration of estates. It …
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