New York Estate Planning & Elder Law Blog

Where Do I File for Probate?

Published on: February 26, 2018 | by Ettinger Law Firm

When someone passes away, he or she typically designates an individual as the executor of the estate in a last will and testament. As the executor of the estate, that individual has tremendous responsibility to fulfill his or her duty to the deceased and carry out that person’s final wishes to distribute property as desired. Unless executors fully embrace their responsibility to act as the representative of an estate and gather all the necessary documentation, complications can arise that may delay what should otherwise be a relatively simple process.

One of the most important primary steps the executor of the estate will have to take is filling the estate with the appropriate probate court in New York State. The proper venue is in the probate court of the county where the deceased lived or intended to return to if he or she was away from their residence at the time of death. If the will is filed with the wrong probate court, the judge hearing the case will likely be forced to reject the will’s entrance to probate.

If the deceased had more than one home, the proper county would be the one where the individual primarily lived or intended to live before passing away. Often times, older people live out their final days in nursing homes or assisted living facilities in counties outside of where there home actually is. Again, the proper jurisdiction to file probate would be where the person lived or would have lived had he or she not been a resident at the nursing home or assisted living facility.

Life Insurance and the Estate Tax

Published on: February 26, 2018 | by Ettinger Law Firm

There are a number of important factors to consider when it comes to comprehensive estate planning. Every family has unique needs, and every estate plan is different and designed in a way that best meets those needs. However, many estate plans include life insurance as an important component of ensuring loved ones are taken care of. While life insurance can be an important part of an estate plan, it is important to plan appropriately to make sure you can make the most out of your life insurance policy.

Life Insurance and Estate Tax

The new tax bill has raised the estate tax threshold quite a bit by doubling it to an individual threshold of $10 millions and a married threshold of around $20 million, with the actual number dependent in some part on inflation. The change in the law is not permanent, either. In fact, it will expire in 2025 absent further action by Congress.

Preventing Disagreements from Unraveling Your Estate Plan

Published on: February 23, 2018 | by Ettinger Law Firm

Comprehensive estate planning is challenging, and the process is unique for every couple and individual. Most people put a lot of time and energy into crafting an appropriate estate plan, including working with an experienced estate planning attorney to make sure that the estate planning mechanisms they want to put in place comply with applicable law and will accomplish the person’s goals for his or her assets. We have recently written about some warning signs that your estate plan may be at risk of being challenged, but there are steps you can take to minimize that risk.

Work with an Experienced Estate Planning Attorney

Preparation is key in estate planning. Not only can being prepared help you ensure that the assets you have worked hard for are secure, but it can also help you avoid unwarranted challenges to your estate plan. Working with an experienced estate planning attorney can help you make sure there are no legal loopholes in your estate plan and that it complies with both federal and state law. This in itself can help avoid may challenges to an estate plan. The earlier you start to engage in comprehensive estate planning, the less likely your estate plan will be challenged on technical and legal grounds because you can avoid many claims of undue influence or issues related to your state of mind when creating your estate plan.

How Do I Obtain a Death Certificate in New York?

Published on: February 22, 2018 | by Ettinger Law Firm

When someone dies, a death certificate records on paper the time and place where the decedent passed away. While the funeral director where you lay your loved one to rest will usually obtain several copies for your records, it may be necessary to obtain a certified copy that has a raised seal and can be used for matters like settling an estate or claiming insurance benefits.

If someone passes away in New York City, Bronx, Brooklyn, Manhattan, Queens, and Staten Island, you can obtain a copy from the New York City Office of Vital Health either online or through the mail. If the decedent passed away outside of New York City but in the state of New York, you can order a certified copy of the death certificate online or by mail from the New York State Department of Health.

It is important to note that death certificates can take anywhere from three to four weeks to receive once ordered and are comprised of two parts: the standard certificate of death and the confidential medical report detailing the cause of death. To obtain the confidential medical report with the death certificate, you must be a relative of the deceased. That person can be: a spouse, domestic partner,parent, child, sibling, grandparent, grandchild, informant listed on the certificate, or person in control of disposition.

Warning Signs of Disagreements Over Your Estate Plan

Published on: February 20, 2018 | by Ettinger Law Firm

Working with an experienced estate planning attorney to ensure that your comprehensive estate plan meets your needs as well as the unique needs of your family and beneficiaries is an important part of the estate planning process. However, even when you have created a solid and comprehensive estate plan, your assets could still be at risk when beneficiaries challenge the terms of your estate planning documents. Being aware of some of the common warning signs that your estate plan could ultimately end up being challenged is an important part of preventing such issues.

Sibling Rivalry

While a healthy amount of sibling rivalry is normal and to be expected in families with multiple children, there are times when it can become a significant issue. Sibling rivalry can be a telling sign. When siblings have difficulty getting along or seem to be in a constant state of competition with one another, there could be trouble on the horizon. You can try to avoid such issues by being explicit in your wishes and talking to children about the decisions you have made when it comes to your estate plan.

The Importance of Business Succession Plans

Published on: February 18, 2018 | by Ettinger Law Firm

Owning a business is hard work. Whether you have started your business from scratch or purchased it, business ownership is a challenging and rewarding experience. When you put so much time, energy, and money into making sure you operate a successful business, it is important to make sure you put mechanisms in place to protect that business should you pass away. A recent article from Forbes reports that around 60 percent of small business owners across the country do not have a business succession plan in place. That means nearly three out of every five small business owners is vulnerable in the event of an unexpected death. However, there are some steps you can take to ensure the viability of your business and developing a comprehensive estate plan that includes a business succession plan working an experienced estate planning attorney can be helpful.

Basics of a Succession Plan

A business succession plan is a plan of action to transfer ownership and management responsibilities within a business. They are particularly important for small business owners that own their business outright as sudden events such as death or incapacitation can have a significant impact on your business.

Addressing College Costs in Your Estate Plan

Published on: February 15, 2018 | by Ettinger Law Firm

The importance of education cannot be underestimated. From the foundations built in grade school to higher education, the rewards of focusing on education are many. So, too, are the costs. It is no secret that education, specifically higher education, can be costly and result in an individual incurring a lot of debt. Many people want to see their children and grandchildren avoid the pitfalls such hefty debt can cause, and comprehensive estate planning can be an effective way to help make sure the costs of college do not break the bank.

Direct Tuition Payments

If you want to contribute to decreasing the financial burden college can take, then you may want to consider making direct tuition payments to the school the individual is attending. If you have the financial security to be able to contribute in this way, there are few consequences – unless something were to happen to you.

Choosing an Estate Planning Attorney

Published on: February 12, 2018 | by Ettinger Law Firm

While we have written about it before, choosing the right estate planning attorney for your needs is an extremely important step as you explore a comprehensive estate planning strategy. You will need to work closely with your estate planning attorney to develop an effective approach to estate planning, and with so much on the line it is important for you to make the right choice. The following tips may be helpful in helping you select an estate planning attorney that is right for you.

Choose an Estate Planning Attorney

Most attorneys receive the same basic legal education. However, many of them go on to focus on specific areas so that they can develop deeper understanding of the various nuances involved in their practice area. The same is true of estate planning. Estate planning attorneys that focus their practice on working with clients throughout the estate planning process can take a thorough and dynamic approach to meeting your estate planning needs.

Royalties and Estate Planning

Published on: February 10, 2018 | by Ettinger Law Firm

For many individuals, intellectual property is not just something they create but also how they make their living. They might create content for websites, write fiction novels, act in movies, make graphic designs, or engage in any other aspect of intellectual property. Often intellectual property produces royalties or other residual income that needs to be accounted for No matter what your connection to intellectual property in your name, it is important to consider such property when determining the best comprehensive estate planning strategy to meet your needs. Often this involves assigning rights to that property to a trust, but there are a number of options available to those concerned about the future of their intellectual property rights.

The Basic Process

Generally, any intellectual property in the name of a deceased individual becomes part of that individual’s estate. That means such property could go through probate if you do not have the proper estate planning mechanisms in place to handle your property.

The Basics of Selling Inheriting Real Estate

Published on: February 9, 2018 | by Ettinger Law Firm

For many people, owning real estate is part of a lifelong dream. When someone has worked to obtain real estate, it is typical for them to want to pass such an asset on to an heir or heirs so that others can enjoy the benefits of such property. In many circumstances, it may be more beneficial for individuals to explore selling inherited real estate. In order to make the most informed choice about whether to sell your inherited real estate, it is important to understand the effects your choice may have. Working with your own experienced estate planning attorney can help you make more informed decisions about real estate.

Important Considerations

One of the first steps in handling inherited real estate is to wait for the probate process to run its course to determine what individual has the right to initiate a sale. An executor will distribute property according to the decedent’s Last Will and Testament, so you will need to wait for that process to conclude, too. If you are inheriting equal shares of real estate with a sibling or other beneficiary, then you need to consider how their interests and approach will affect your rights in the property.