Welcome to Our Blog
WHO IS IN CHARGE OF SETTLING AN ESTATE WHEN A WILL IN NOT PRESENT?
If someone dies with a will, their will specifies who receives their property and who is in charge of settling their estate (called the executor). Beneficiaries can feel slighted by what they did or didn't receive, and some individuals are entirely excluded from inheriting anything at all. The legal process of challenging the validity of a will is called a will contest (or “contesting a will”).
What Happens When You Don’t Have A Will?
If you leave no Will or your Will is declared invalid because it was improperly prepared or is not admissible to probates, there are a myriad of things that can go horribly wrong.
A VARIETY OF TRUSTS EXPLAINED
Almost everyone has heard of trusts, sometimes in reference to someone being a beneficiary. Despite the common misconception that trusts are only for the wealthy, they are a useful tool for estate planning of all sizes.
Update your Living Will ASAP if you've had any of these life changes…
Have you experienced some life changes recently? If so, you might want to update your Living Will. For family members and caregivers, it is always helpful.
ESTATE PLANNING FOR DIGITAL ASSETS – INTANGIBLE, BUT IMPORTANT:
As our society becomes more reliant on digital technologies, the world of estate planning faces new challenges. Many people today, whether they realize it or not, own substantial digital assets. Names, blogs, bitcoin, and non-fungible tokens (NFTs) are examples of digital assets that must be considered when creating an estate plan. If the proper authorizations are not in place, passwords, data encryption, criminal laws on "exceeding authorized access," and data privacy laws may prevent a decedent's family members from accessing their loved one's digital assets. It is more important than ever to have an up-to-date estate plan that complies with the law, expresses your intentions regarding all of your property, digital or not, and reduces emotional and financial burdens on loved ones after death. Digital property should not be overlooked.
PROBATING A LOST WILL IN NEW YORK STATE COURT
It's all too easy to lose track of this important document as the years go by. If a loved one passed away but you can't find their Will, you could run into serious issues during the probate process.