What is an Ancillary Probate or Ancillary Administration Proceeding?

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When a person passes away with real property in multiple states, an ancillary proceeding may be necessary. The primary probate proceeding (if the person passed away with a Last Will & Testament) or primary administration proceeding (if the person passed away without a Last Will & Testament) is commenced in the State and County where […]

Joint Ownership of Real Property- Different Ways Real Property can be Titled

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Title to real property can be held in three different ways; tenants by the entirety, tenants in common, and joint tenants with rights of survivorship. Tenants by the entirety- the property is owned by a married couple.  The deed will usually state the parties as husband wife. For example the deed would say “John Doe […]

What is a Testamentary Trust?

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Simply put, a testamentary trust is a trust that is written into a Last Will & Testament.  The trust does not come into existence until the Will is probated. Testamentary trusts can be created for a variety of reasons.  Here are a few reasons a person might want to set up a testamentary trust in […]

Who may commence a Guardianship Proceeding?  

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If you are concerned that a loved one or family member can no longer take care of their finances or are unable to make safe medical decisions for themselves, a guardianship proceeding may need to be commenced.   Who has the authority to commence a Guardianship proceeding? M.H.L. §81.06 lists specifically who may commence a guardianship […]

What is a Step-Up in Basis?

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  One of biggest gifts given to estate planners is given to us through the Internal Revenue code.   IRC §1014 is the rule that says a beneficiary receives the basis of the decedent at the time of their death.  Step up in basis is best explained through an example. Daredevil Dan Example #1: Daredevil Dan […]

What documents should be part of a basic Estate Plan?

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A basic estate plan involves planning for two things; a person’s demise and their incapacity. A Person’s Demise “In this world nothing can be said to be certain, except death and taxes.”- Benjamin Franklin.  Unfortunately, we all only have a limited time on this earth. Estate planning details how you would like your property to […]

What does the New York Jets all time sack leader have to do with Elder Law?

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Recently Mark Gastineau, the New York Jets all time sack leader, told the public that he was diagnosed with dementia, Alzheimer’s disease, and Parkinson’s disease. Alzheimer’s disease is an awful disease that affects the brain and destroys memories and other important mental functions.  He may not be able to recall family members or how to […]

What Happens if I Die without a Will?

What happens if I die without a Will featuring Daredevil Dan If a person dies without leaving a Last Will & Testament, that person has died intestate.  Intestacy is the default rules in New York has as to who would inherit your property if you did not have a Will.  It is codified in EPTL […]

What is a Probate Estate?  

Probate is defined as the official proving of a Will.  Many people think that when they create a Will all their assets will be distributed according to their will. This may not be the case. The only assets that can be administered according to the terms of the Will are assets in the probate estate. […]

Seven Benefits of a Revocable Living Trust

  Many Americans simply leave a will to distribute their assets upon their passing.  However, the creation of a Revocable Living Trust creates several benefits unavailable to those simply leaving a will. Here are seven benefits to creating a Revocable Living Trust 1) Avoiding Probate- A great benefit of a living trust is that it […]