A few weeks ago we blogged about the death of actor James Gandolfini and how he had several interesting clauses in his will, including the naming of co-executors of his estate. In general, it’s not a good idea to name more than one executor to manage your estate after you die. While this isn’t a guarantee that your estate will run into difficulty, it can be a practical hurdle that causes delays, increased costs, and even runs the risk of causing family disputes. Here’s why having co-executors in … [Read more...] about Why You Should Probably Skip Co-Executors in New York
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When Someone Dies. Practical Steps to Take After a Death in the Family
Estate planning lawyers help their clients create estate plans, meaning they often deal with questions about mortality, life, and death. Because of this, a lot of clients come to an estate planning attorney wanting to know what they can do after a family member or loved one has died. Even though estate planning is often about making choices in preparation of death, there are practical steps you can take if you are confronted with the death of someone close to you. Many of these practical … [Read more...] about When Someone Dies. Practical Steps to Take After a Death in the Family
Selecting the Right Trustee for Your Revocable Living Trust
Creating a comprehensive estate plan in New York is not just about making decisions that only you can make, it’s also about choosing people who will serve important roles in your life and in the management of your estate. When, for example, you choose to create a living trust, you will have to select a trustee who will manage the trust property. Selecting a trustee is not always an easy process, and there are several considerations you will have to make before identifying the ideal candidate. … [Read more...] about Selecting the Right Trustee for Your Revocable Living Trust
Serving as Executor: What You Should Know Before you Accept
Anyone making a last will and testament in Rochester, New York or the Finger Lakes area has to select a person to serve as executor of the estate. Executors have a number of specific responsibilities under the law, and he/she will be the person most responsible for ensuring that the decedent’s wishes are carried out. You are never required to serve as anyone’s executor, so if someone asks you to take on this important role, there are several issues you will want to know about before you agree … [Read more...] about Serving as Executor: What You Should Know Before you Accept
Controlling The Assets You Place in Your Living Trust
When some people hear about revocable living trusts for the first time, they’re confused by the notion that by transferring your property to the trust you can gain certain benefits. Though transferring estate property outside of probate and maintaining privacy is appealing, a lot of people are uncomfortable with the idea of having to transfer their property to the trust. These people often fear that by doing so they will lose control over their property and leave it up to some stranger to manage … [Read more...] about Controlling The Assets You Place in Your Living Trust
