New York Estate Planning & Elder Law BlogIt’s easy to assume that celebrities have the best-written estate plans. In reality, however, each year countless celebrities pass away and create estate problems because they do not clearly express their wishes. For example, when the “queen of soul music” Aretha Franklin passed away, she left a holographic will behind. While some news sources […]
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Revoking Your New York Will
People are taught to hang onto important documents. Every person is instructed to hold onto deeds, mortgages, bank records and tax returns in a safe place where no one else can access them lest important information fall into the wrong hands. But wills, which might be the most important document a person can have, should […]
Back to Basics: No Contest Clause in New York Wills
One of the many goals of estate planning is to limit the amount of fighting that will occur once a person passes on, and there are many ways to achieve that goal. Often this involves making sure that all the proper requirements are observed when executing documents, careful drafting of trusts and keeping estate planning […]
Avoiding Guardianship in New York
For the ever-increasing number of those who become legally incapacitated later in life (i.e. unable to handle their legal and financial affairs) having a legal guardian appointed looms as a distinct possibility. A guardianship proceeding may be commenced by a hospital, nursing home, assisted living residence, family member or a professional involved in the affairs […]
Minimum Nursing Home Requirements Become Effective in New York
The Governor of New York recently removed a three-month prohibition on a new regulation requiring nursing homes to satisfy minimum staffing requirements to provide patient care. Supporters of the regulation, which establishes minimum staffing ratios and requires that nursing home residents receive at least 3.5 hours a day of direct nursing care, have expressed satisfaction […]
What to Know About New York’s Estate Tax Cliff
New York’s estate tax cliff can lead to heirs in the state paying estate tax at a rate that surpasses 100%. The existing per-person New York state estate tax exemption is $6.11 million. This is the amount that a person can pass on to heirs at his or her time of death without being obligated […]
Advice on Using New York Trusts for Asset Protection
When it comes to creating a trust to protect assets against various predatory efforts including financial elderly abuse, lawsuits, and undue influence, certain attractive trust features can be utilized. These features allow the person who establishes the trust to receive income as well as realize various other advantages. Remember, trusts have various purposes and not […]
3 Things to Consider about Handwritten Wills in New York
Following his passing on January 23, 2021, Larry King’s widow remains locked in a dispute with the late celebrity’s son concerning the distribution of King’s assets. While estate battles are often challenging, this case is particularly complex for several reasons. One, a divorce was pending between Larry King and his widow. Additionally, King’s widow alleges […]
3 Critical Things to Remember about New York Holographic Wills
In the recent case, In the Estate of Hohmann, a person passed away without leaving an executed will. The deceased man’s caretaker, however, found a handwritten document where the deceased man stated his wishes for his assets. The deceased’s cousin later applied to probate the handwritten document like a written will. An heir of the deceased […]
Lessons Learned After New York Mail Fraud Case
The Department of Justice recently indicted four men including two individuals who are located in Canada and two in the state of New York for a mass-mailing scheme that robbed thousands of senior citizens of tens of millions of dollars. Based on the Canadian indictments, the accused fraudsters sent mail to thousands of elderly […]