What commissions are an Executor or Administrator entitled to?
An Executor or Administrator of a decedent’s estate is entitled to a commission. The job of the Executor or Administrator is to gather all the assets of the decedent, pay the liabilities, and distribute the funds according to the decedent’s Last Will & Testament or according to the intestacy rules of New York. The executor […]
What is an Ancillary Probate or Ancillary Administration Proceeding?
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 […]
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 […]