June 13, 2024 9:29 AM
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By Fate Kersey
The estate administration process involves gathering, settling and distributing everything a deceased person owned. A New York probate lawyer can handle all aspects of this process and make sure that essential Court and tax deadlines are met. It is important to note that inherited property may only be distributed after...
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By Fate Kersey
If you’ve lost a loved one, it’s important to know how probate and estate administration work so that you can protect your assets and interests. Probate is the court process of settling an estate and distributing all property to beneficiaries. Estate administration, on the other hand, is the administrative process...
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By Fate Kersey
A durable power of attorney is a legal document where you appoint someone to make financial decisions on your behalf. This is a very useful tool for life planning. Unlike a non-durable power of attorney, a durable power of attorney lasts until you pass away or the order is revoked....
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By Fate Kersey
When a person creates a living trust, they name a trustee to manage their assets. This trustee will then distribute the trust’s assets to one or more beneficiaries upon the grantor’s death. This can be useful in situations where a person becomes incapacitated and unable to manage their finances. The...
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By Fate Kersey
A pour-over will is created along with a trust to ensure that all assets avoid probate upon a testator’s death. The assets will then be transferred to the trust after death and distributed according to the instructions in the pour-over will. A pour-over will is particularly useful when the testator...
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By Fate Kersey
Divorce is a difficult and emotional time for anyone, but it is important to ensure your assets are protected from legal disputes between you and your former spouse. One way to do this is by updating your estate plan. This will ensure your wishes are carried out when you pass...
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By Fate Kersey
If you have a significant amount of highly appreciated assets (stock, real estate, or other property), a charitable remainder trust can be an excellent way to convert those assets into income and save capital gains taxes. Creating a charitable remainder trust requires careful planning and legal expertise. An Edelman Financial...
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By Fate Kersey
Most people put off estate planning because they think they aren’t old enough, they don’t have enough assets, they don’t know where to begin or who can help them or they simply don’t want to deal with it. But everyone over the age of 18 should have some important documents...
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By Fate Kersey
When a non-US citizen spouse is named as a beneficiary, there are issues that can arise for the US estate. These include issues with taxes, inheritance and fiduciary duties. A trust is a legal entity created to hold and administer funds and assets for the benefit of its beneficiaries. It...
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By Fate Kersey
Medicaid is a joint federal-state program that helps cover medical costs for people who have limited income and resources. It covers a variety of health care services, including doctor visits, hospital stays, and long-term care. It also helps provide special nutrition services through WIC. Many Americans would not have access...
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By Fate Kersey
There are a number of things that can make a probate invalid. Some of these include lack of testamentary capacity or the presence of undue influence. When a will is deemed invalid by the court, the estate is divided according to the law of intestate succession. Typically, the person contesting...
Main News
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By Fate Kersey
In the US, inheritance laws can be complicated. It’s a good idea to consult a financial advisor to understand what your heirs may be entitled to after you pass away. It’s important to make sure you’re realistic about the amount you are leaving to your heirs, assess your current financial...