When a loved one passes away, dealing with their estate can be an emotionally challenging and complex process. In New York, many people wonder whether probate is necessary, even when a will exists. The short answer is that most wills do need to go through the probate process, but there are some important nuances to […]

Non-domiciliary estate administration in New York involves the management and distribution of a decedent's estate when the decedent was not a resident of New York at the time of death but owned assets within the state. This process is essential for ensuring that the decedent's New York-based assets are properly administered and distributed according to the […]

New York’s estate tax cliff is a unique problem for wealthy New Yorkers, but understanding how to navigate its effects can make a significant difference in estate planning. Let’s break down the key points and considerations for implementing a “Santa clause” to mitigate the impact of the estate tax cliff. Understanding the Estate Tax Cliff […]

An Administrator d.b.n. (Administrator de bonis non with the will annexed) is a person or entity appointed to complete the administration of an estate when the previously appointed fiduciary (either an Executor or an Administrator) becomes unable or unwilling to continue before the estate's administration is finished. The term "de bonis non" literally translates to […]

The Transfer on Death (TOD) Deed will become available to property owners in New York on July 10, 2024, through the introduction of Section 424 to New York State Real Property Law. While other states already allow the utilization of Transfer on Death Deeds (also known as Lady Bird Deeds), the introduction of the TOD […]

Probate is the process by which a Will is submitted to the Surrogate’s Court and an Executor is appointed with the authority to act on behalf of the estate. It is also generally used to describe the process of estate administration, when a person dies without a will. However, only certain types of assets must […]

When someone passes away and their loved ones need to collect their assets, they will sometimes need to be appointed a fiduciary of the estate. The fiduciary of an estate oversees the collection of the decedent’s assets, paying their creditors, and distributing what remains to the estate’s distributees or beneficiaries.  The fiduciary is be appointed […]

In New York State when a minor reaches the age of 18, they have the legal right to make their own decisions.  Their parents no longer have the authority to make decisions about their health or property.  While this may seem obvious and logical to most, for those parents of disabled young people, a child’s […]

When a person passes away and leaves a valid Last Will and Testament (the “will”), his named executor in the will (or a successor executor, if the primary is unavailable) has to go through  probate process. Probate is the process of proving the authenticity of the will and qualifying to act an executor to administer […]

As a parent or caretaker of a minor child, you may encounter situations where a minor requires someone to manage their financial affairs and protect their assets. This usually happens when the minor was listed as a beneficiary on a life insurance policy or bank account. In such cases, the Surrogate's Court appoints a guardian […]