If you have agreed to serve as the executor over someone’s estate, there are numerous duties you will have to perform. While each state has its own probate laws that direct how executors must act, here are several of the main duties that you are likely to encounter as you go about the probate process. Collect the assets. The estate settlement process is all about getting a deceased person’s property to new owners. To begin this process you will have to account for every piece of property … [Read more...] about Knowing Your Duties as Executor
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Widow Can’t Access Deceased Husband’s Savings Account
A story out of Jacksonville, Florida highlights some of the problems that can occur if you don’t take the time to adequately address estate planning issues. Julia Bolena, a widow who would have been married to her husband for 53 years, recently tried to access her deceased husband’s Wells Fargo savings account. Even though she and her husband had been married for half a century and she was listed as a joint account holder on her deceased husband’s checking account, the bank prevented her from … [Read more...] about Widow Can’t Access Deceased Husband’s Savings Account
Using a Self-Proving Will: 3 Questions
Question 1: What is a self-proving will? All wills in New York have to be made in writing, signed by the person making it, and signed by two adult witnesses. When the person who made the will dies, a New York Surrogates Court will have to determine if the will meets all legal requirements. At that point, the witnesses will have to testify that they saw the testator sign the will. In anticipation of this process a testator (a person who makes a will) can have the witnesses sign an affidavit … [Read more...] about Using a Self-Proving Will: 3 Questions
The Best Way to Revoke a Will
When you create a last will and testament in New York, it’s important to understand that you retain the ability to alter or revoke the document whenever you like. As long as you maintain your mental faculties you can revoke your will for any reason or for no reason at all. However, revoking a will, like creating one, is something you should do carefully. If a probate court is ever asked to determine if your revocation was legal or intentional, you will want to make sure that there is clear … [Read more...] about The Best Way to Revoke a Will
What is Elder Law? 3 Essential Issues
As we get older, not only do our needs and desires change, but so do the laws that affect us. The term “elder law” refers to the legal issues that elderly people most commonly have to deal with. While not all elderly people will have to deal with all elder law issues, here are three essential elder law topics that you should be aware of. Incapacity Planning Our bodies break down over time, and even the healthiest of us can fall victim to a sudden injury or illness that leaves us unable to … [Read more...] about What is Elder Law? 3 Essential Issues
