New York Estate Planning, Probate, and Real Estate Lawyer

When preparing a Last Will, anyone with a frequent flyer air miles account should include those miles as an asset that can be transferred upon death. As air fares continue to rise, your air miles account is a valuable asset not to be overlooked. Some airlines rules state that their miles are not transferable upon…

You may think the answer is obvious. But the correct answer is “It depends.” It depends on the year purchased. If the co-op apartment was purchased by a married couple before 1986, the law MAY treat the property as personal. Subsequent to 1996 the law was revised to treat co-ops as real property with respect…

When preparing a Last Will, the detail that is frequently overlooked is the specific designation of personal property to loved ones. A child’s biggest heartbreak occurs when mom or dad fails to bequeath an item of great sentimental value to the child. We are talking about pictures, books, a piece of furniture, etc. Often, this…

Let’s begin with some definitions. When someone dies with a will, the process is called Probate. The individual entrusted with administering the estate is the Executor named in the Will. If one dies without a will the process is called Administration. The person entrusted with administering the estate is called the Administrator. Since no written…

The Albany Times Union is reporting that the pressures that caused Detroit to go into bankruptcy also exist here in New York State due to “stagnant or shrinking tax base caused by declining population and de-industrialization as well as swelling legacy costs for pensions and health care for retirees.” …the state constitution sets limits on…

Many real estate owners are confronting the worst housing market in decades. Foreclosures and loan defaults are at an all-time high and refinancing is difficult even for creditworthy homeowners. As a result, bankruptcy has become the favorable choice for many property owners facing foreclosure. Here are some of the ways bankruptcy can help: The filing…

In the process of making plans to protect one’s family and loved ones upon one’s death, many people have chosen a living trust. Also known as an inter vivos (Latin for “within one’s life”), this type of trust is very flexible.This type of trust is distinguished form a testamentary trust, which is created by a…

NYC Comptroller John Lui’s office did an audit of Kings County Public Administrator’s Office (KCPA) and found KCPA failed to properly carry out its fiduciary responsibilities because it did not act in the best interests of estates, carry out its duties prudently, and comply with statutory rules and regulations. Specifically, KCPA did not implement internal…

1. Plan Ahead: If you are reading this blog, you have already taken the first step to begin the process of Chapter 13 preparation. The more information you have the easier the process will be. More importantly, the more you know the less anxious you will feel as you proceed forward through the legal process…

The website Daily Finance reports The newly released 2011 EZLaw Wills & Estate Planning survey shows a fairly significant disconnect between our ideals and our actions when it comes to preparing for our deaths. While 60% of those surveyed said they believe all adults should have estate plans, only 44% said they have one. Read…