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Articles Posted in Estate Administration

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BACK TO THE BASICS – HOW TO BE AN EXECUTOR

AN IMPORTANT AND SOMETIMES THANKLESS JOB There are times in life when we all will have to do or engage in a thankless job.  One such time is when a close friend or a family member asks you to be the executor of their estate.  The difference between an executor…

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DIGITAL ACCOUNTS AND PLANNING

COMMON PROBLEM There is much talk lately of how to deal with email, facebook, twitter accounts, et cetera of people who pass away.  For those of us who have friends or family who passed away and see their facebook account send a reminder to all of their friends on their…

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CREDITORS OF AN ESTATE

ORDER OF PAYMENT It should not be a surprise to anyone that when someone passes away, their estate must pay for all legally binding outstanding debt owed by the decedent just prior to passing. New York as well as just about every other jurisdiction has laws that address how the…

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PLANNING FOR MARRIED MEDICAID APPLICANT’S COMMUNITY SPOUSE – COMMUNITY SPOUSE INCOME

When a married person applies for Medicaid, the government looks at the collected, or, pooled, resources of the two to determine if one of the two spouses is eligible for Medicaid. If the combined income of the two spouses is above the income threshold set by law, the balance must…

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LACKING IN MENTAL CAPACITY AND FAMILY, WHO DECIDES

On June 24, 2015 a trial Court in California invalidated a California law as unconstitutional, which created a default surrogate decision maker when that individual is mentally incapacitated and does not have a family member, or anyone else for that matter, to make key decisions for them.  The law and…

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Robin Williams’ Wife and Children Fighting Over Estate

Almost six months after the untimely suicide of comedian Robin Williams, his wife and children are embroiled in a contentious legal battle over his estate. Court documents filed in California during December and January pit his last widow, Susan Schneider Williams, against his children from his two previous marriages: Zak,…

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Having a Bon Voyage – Specifying End of Life Decisions that Lay Out Your Last Wishes

It has been said that life is a journey, not a destination. So it makes sense that in our last days, on our final journey, we should strive to have a good one–a bon voyage. While talking about end of life issues–particularly our own–can sometimes be uncomfortable, the best way…

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Back to the Basics: What is the Difference Between Revocable and Irrevocable Trusts?

While many New York residents familiar with and have an existing will in place in the event of their death, most people do not realize that estate planning documents extend far beyond a last will and testament. The world of estate planning documents includes not only living wills and advanced…

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Not Allowed to Disinherit – Spousal Right of Election in New York

New York residents are urged to craft an estate plan so that their assets are passed on per their own wishes–and not based on arbitrary state laws. Unless you explicitly make your desires known, then all decisions will be left up to others. However, there are actually a few rare…

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