No one knows that life isn't fair more than people who have faced discrimination because of who they are. We have come a long way in this country towards ending this discrimination, but we all know that it continues. LGBTQ couples and individuals are constantly having to fight for their basic rights. Most of the fights today are over the right to get married. However, there is an interesting twist to that fight in a challenge over a New York Will. Frank Mendelbaum passed away a wealthy man … [Read more...]
Planning to be an Executor
When someone asks you to be the Executor of his or her Will, you usually agree to act in that capacity without thinking it through carefully. It is one of those things that people naturally say yes to. However, when it comes to to actually carrying out your duties as an Executor, you will face problems if you have not thought about what you need to do and prepare for it. Most of the time, Executors need to go to Probate to carry out their duties. This requires that you follow formal and set … [Read more...]
Four Things that do not Belong in a Will
Creating a will is the cornerstone of estate planning – a will names a guardian for minor children, names an executor for an estate and allows you to distribute your property. While wills are certainly critical, they are not the place for all of your estate planning directives. Some of the issues that should not be addressed in a will are: Medical Directives A will is not read until after you pass, so advance medical directives, a set of documents that address medical and power of attorney … [Read more...]
Transferring Property Without Probate
Many estate planning tools are set up to allow property to avoid probate. Why? Probate Court can not only tie up property for months, even years, but it can rack up fees and costs as well. Property that avoids probate is called non-probate property, and it generally falls into three different categories: Transfers by Title: Assets transferred by title include property owned in joint tenancy with the right of survivorship, such as a house that is jointly owned by a married couple. It is … [Read more...]
