When you think about estate planning, the execution of a last will may come to mind. People often think that a last will can facilitate asset transfers very simply. In fact, this is not entirely true because of the existence of the process of probate. Estate Administration If you maintain direct personal possession of your property and direct its distribution through the terms of a last will, the executor or personal representative must admit the will to probate. In the state … [Read more...] about Can Probate Be Avoided?
What Is the Cost of Probate?
People sometimes act without having enough information, and negative consequences can come about as a result. This type of thing certainly applies to estate planning. There are websites on the Internet that sell do-it-yourself legal documents, including estate planning devices like last wills. They claim that estate planning is something that you can do by simply filling in the blanks. If you assume that you should use a do-it-yourself last will as a vehicle of asset transfer, your … [Read more...] about What Is the Cost of Probate?
How Can You Avoid Probate?
Probate can be defined as the legal process of estate administration. When someone dies with a last will in place, it must be admitted to probate, and the Surrogate’s Court would provide supervision while the estate is being administered. The court is also responsible for the estates of people that die intestate. Intestacy is the condition of passing away without any estate planning documents at all. The probate process provides protections for creditors that may want to seek satisfaction … [Read more...] about How Can You Avoid Probate?
Is Avoiding Probate Possible if You Have Assets to Pass On?
Avoiding probate could be a great thing for your heirs or beneficiaries who stand to inherit after you pass on. After all, the probate process can be a very expensive and time-consuming process that requires your heirs or beneficiaries to go to court in order to facilitate the transfer of your money and property. Many people just assume that if they have assets they wish to pass on to loved ones, that they will have no choice but to allow their wealth to pass through probate. The reality is, … [Read more...] about Is Avoiding Probate Possible if You Have Assets to Pass On?
Answers to Three Questions About Probate
Probate is the legal process of estate administration. We practice law in New York, and in our state, the Surrogate’s Court in the county that the decedent resided in would supervise the process. Most people that are not in the estate planning field do not know much about it, so will provide some clarity in this blog post by providing answers to some frequently asked questions. Why does probate exist? In an estate planning context, probate exists to provide supervision when an estate is being … [Read more...] about Answers to Three Questions About Probate
Is Probate Necessary When a Spouse Dies?
Going through probate when a spouse dies can be very difficult. The death of a spouse will change your life in profound ways and you will be left coping with a tremendous loss if your husband or wife has passed. Not only do you need to deal with reshaping your future after the loss of your partner, but you also need to cope with many financial and legal issues raised by the death of your spouse. Being forced to go through probate proceedings at this time can be a very difficult … [Read more...] about Is Probate Necessary When a Spouse Dies?
Tasks a New York Probate Attorney Helps With
A New York probate attorney provides invaluable assistance with the probate process. The probate process occurs after most deaths and is a necessary process to ensure the wishes of the deceased are followed if a will is being used to pass on the deceased person’s assets. The deceased is called the decedent during probate proceedings, and the probate process is usually overseen by an executor of an estate or personal administrator who has a lot of responsibility in moving forward with court … [Read more...] about Tasks a New York Probate Attorney Helps With
What Occurs During Probate if There is No Will?
What are the rules for probate when there is no will in New York? Answering this question is very important if you are thinking about creating an estate plan or if you do not have an estate plan in place but you want to make certain that your loved ones inherit when you pass away. If someone you care about has died and did not have a will, then it is also important to determine what happens to assets if the deceased person passed away without making his preferences known. The Law Office of … [Read more...] about What Occurs During Probate if There is No Will?
Myths About New York Probate Law
Under New York probate law, the probate process will generally take place in Surrogate’s Court in the jurisdiction where the deceased person (the decedent) lived. The probate process can be complicated and many families struggle as they wait for their inheritance and try to determine what their obligations are during probate. An experienced attorney can provide assistance with this process and can explain how the law applies to your situation. The Law Office of Michael Robinson, P.C. can … [Read more...] about Myths About New York Probate Law
Top Reasons for Avoiding Probate
When you make arrangements for avoiding probate, your family members may be very grateful to you after you pass away. Probate is normally required in order for your assets to transfer to the new owners after your death. The process can be complicated, time consuming, and expensive. It can also create an opportunity for your will to be contested, which can result in a protracted legal battle that undermines the value of an inheritance. There are lots of reasons why taking steps towards … [Read more...] about Top Reasons for Avoiding Probate