When a will contains contradictory instructions, a New York court may need to interpret the document to determine how the deceased person's assets should be distributed. The court's primary goal is to honor the person's intentions while following state law. Conflicting provisions do not automatically invalidate an entire will, but they can...
Does a Financial Power of Attorney Have Access to Joint Bank Accounts?
Yes, a financial power of attorney (POA) can generally allow an agent to access a joint bank account in New York if the person granting the authority is an account owner. However, the agent's powers depend on the document's language and applicable law. Having power of attorney for one account holder...
Can You Leave an Inheritance to a Grandchild Who Hasn’t Been Born Yet?
Yes. A New York estate plan can provide an inheritance for grandchildren who have not yet been born or conceived. The language in your will or trust must clearly establish who qualifies, when the beneficiary group is determined, and how the property will be divided.
How...Can You Sell Your Share of a Jointly Inherited Property in New York?
You may be able to sell your individual share of jointly inherited property in New York without every co-owner approving the transaction. Your rights and the required process depend on how title is held, whether estate administration is still underway, and whether the property qualifies for New York’s heirs property protections.
What Role Does a Court Evaluator Play in a New York Guardianship Case?
In a New York Article 81 guardianship case, a court evaluator investigates the circumstances surrounding the petition and provides an independent assessment to the judge. The evaluator gathers information and makes recommendations, but does not decide whether the person is incapacitated or whether a guardian should be appointed.
How to Transfer Real Estate to Children Without Creating Tax Problems
Transferring real estate to your children can help keep property in the family, but the timing and method matter. A well-intended gift can increase capital gains taxes, affect Medicaid planning, reduce valuable tax benefits, and create legal complications.
Whether you own a family home, a vacation property, or an...
Can an Executor Sell Property Without Beneficiary Approval?
In many cases, yes. An executor can often sell estate property without obtaining approval from beneficiaries, provided the sale is permitted under the will or New York law and the executor is acting in the estate's best interests. However, that authority has limits, and beneficiaries have the right to challenge sales that...
Power of Attorney Mistakes That Cause Family Disputes
A properly drafted power of attorney can make it easier for someone you trust to manage your financial and legal affairs if you become unable to do so. However, mistakes when creating or using a power of attorney often lead to confusion, disagreements, and even legal disputes among family members. Taking the...
Assets That Pass Outside Probate in New York
Not every asset you own must go through probate after your death. In New York, many types of property transfer directly to a named beneficiary or surviving owner, allowing those assets to pass outside the probate process. Knowing which assets avoid probate can help you make informed estate planning decisions and...
Should You Put Rental Property Into an LLC or Trust?
If you own rental property, whether it should be held in an LLC or a trust depends on your goals. An LLC is often used to help limit personal liability and separate business assets from personal assets. A trust is typically used for estate planning, incapacity planning, and transferring property to beneficiaries....