PROBATE AND ESTATES

Unborn baby survives mother hit by van

2008-08-16T20:15:00.000-07:00

What happens if you do not have a Will and you have a new baby? Well that's what a family in New York City is about to find out. What a tragedy - a pregnant woman struck by a van/bus and she died but the doctors were able to save her unborn child. Well, with out a Will, her husband will have to file an Administration proceeding. If the father's child was not around or deceased also, then it would be up to Surrogate's Court to decide who takes care of that child and the child's money. Don't leave that up to strangers. Have a Will. In a Will you can declare the guardian of your child, the trustee of the money in your Estate that is going to take care of your child. Why not have a Will. Its also less expensive.

Don't leave your child's welfare up to strangers like Anna Nicole's daughter.

2008-07-18T20:24:00.000-07:00

Everyone needs a Will. Everyone who has a child needs a Will. In your Will you can designate who will care for your child, who will be the trustee of your Estate for the benefit of your child, just to name a few things. If you don't have a Will and both parents pass away, then your relatives may seek custody, and that may not be what you want. Then the Court must decide who will raise your child.

A Will is a simple document which is a very valuable document. We all buy insurance -whether it be car or life insurance. Why not have a Will. You can't have any better insurance for your family if and when something happens to you.

2008-05-15T17:41:00.000-07:00

Why should you have a Will? Most people know that a will lets them determine who will receive their property when they die. Despite this significant benefit, relatively few people have wills.

If you die without a will, your property will be distribued according to state law. It may not be distributed the way your want, since it is distrubitued without considerig the needs or circumstances of recipients.

A will can do more than just determine how property is distributed upon death. It can name an executor. The executor will oversee your estate's financial affairs during "probate, including making sure your debts are paid and that your property is distributed as stated in your will. Without a will, a judge chooses your executor and generally appoints the Public Administrator. The public administrator is an attorney or law firm appointed by the Court to handle the estate's affairs from the beginning to the end.

A Will can also set up a trust, which can help save on taxes. Thus, for people with substantial assets, a Will can be a cost saving tool.

For married couples with young children, Wills are essential unless you want the Court and strangers making decisions for your children and handling your affairs. Each spouse can choose a guardian for the children if both parents die to raise their children and manage the money as a trustee.

Equitable distribution of estates and the property

2008-04-07T18:22:00.000-07:00

Be careful with groups that offer to clean up and sell and distribute the personal property of the Estate. Your loved one's Will will tell the Executor who gets what and how the property gets distributed. You can hire a company to come in and buy the property and distribute it according to the Will or New York State Intestate Law but a company or group can't distribute the property equitable or how they see fit. Be careful what you do as an executor. Cheap is not always the best way. You get what you pay for.

As an executor or administrator, you must fulfill your fiduciary duties. Please call before you hire such a company.

WHY YOU SHOULD HAVE A WILL AND RELATED DOCUMENTS

2008-03-25T20:54:00.000-07:00

Wills allow people to designate where their property goes after they are gone, yet very few people have Wills. Why is that?

If you die without a Will, your property will be distributed according the intestate laws of the State that you live in. It may not be what you want. Your family's needs are not considered. Your estate may go the the State or local government if your family member is on government aid of some kind. Do you want that?

A will can name an Executor - someone you trust who can administer your estate they way you want and oversee the financial affairs. Without an executor, the Court will arbitrarily chose your executor.

A will can set up a trust for those under the majority age. It can save your estate taxes.

For couples with children - a Will is a must. You can chose the guardian of your children and how will raise them and manage their finances. Without a Will, the Court will chose a stranger or someone you don't want.

You should also update your Will and other documents every three years and whenever your situation or family changes. More on that issue next posting.

Trusts - do I really need one? what can it do for me?

2008-01-19T19:24:00.000-08:00

Trusts - most people will ask for a trust and not really know what it can and cannot do for them. A trust can protect assets from creditors, among other things. A trust can also make the look back period an automatic 5 years. A trust must still be filed with Surrogate's Court and can be more expensive to administer then a Will.

You do not always avoid Surrogate's Court by having a trust. In fact, we recently had a family whereby the parents each set up a testamentary trust. It cost the family more money to administer the testamentary trusts then if they simply had a Will and did some estate planning.

Be careful of those who recommend Trusts. Make sure you learn all the facts from different sources and not just the person who wants to draft the trust for you.

Free consultations. 24 hours / 7 days a week. For more information call us at 631-425-7299 or visit us on our website at www.longislandestateattorney.com

What happens before the testator dies is mostly irrelevant

2008-01-19T19:20:00.000-08:00

When your relatives ask you about what your loved one who died did with all that money she spent while she was alive, you can answer, "it does not matter, that was before her death while she was alive."

Generally, unless there is fraud alleged, the Court is not interested in what transpired during the decedent's lifetime. The Court is only concerned about the assets from the date of death until final distribution of the Estate is made.

Free Consultations. Call us LAW OFFICE OF BONNIE LAWSTON 631-425-7299 or visit us at our website: www.longislandestateattorney.com

Decedent died in NEW York but you, the executor live outside of New York, can you still fulfill your duties?

2008-01-10T21:11:00.000-08:00

Estate Administration- We assist relatives that have loved ones that died in New York but they live outside of New York or too far away to process the Estate. As the attorney we will collect the assets, manage the assets and process the expenses. We can send you, as the nominated executor or executrix all the papers that you need to sign and you do not have to come to Court or to New York, unless you want to. All the expenses are paid by the Estate.

We can also assist you if your loved one died with a trust. Whether you live in New York or not. The proceedings are always brought where the decedent died - NY.

Discounts can be applied. If you cannot afford an attorney, under certain circumstances, we will assist you and no money is due until the end of the Estate or trust administration which can be paid from the estate or decedent's assets.

I often receive calls from clients worried about being an executor but living in another state. It should not be a concern. Even if you lived in New York, the attorney does most of the work and guides you through the process.

Call for a free consultation. 631-425-7299 Home consultations are available.

WRITING ON THE WILL

2008-01-10T21:08:00.000-08:00

DID YOUR RELATIVE HAVE A WILL EXECUTED AND THEN SOMETIME THEREAFTER WRITE ON IT - AS IF SHE OR HE WANTED TO CHANGE SOME THINGS BUT DID NOT HAVE TIME TO CALL THE ATTORNEY OR EXECUTE ANOTHER WILL? If yes, the Will can still be admitted to probate but some investigation must be done. If the changes were made and they were made not at the time of execution or in the presence of the witnesses, then the changes or writings are ignored and the original print of thw Will controls. One would get affidavits from the witnesses and attorney surrounding that issue. It happens often.

ESTATE PLANNING - STEP ONE

2007-10-11T20:26:00.001-07:00

STEP ONE - ESTATE PLANNING

IDENTIFY YOUR GOALS - your estate can accomplish a multitude of goals such as

-reducing estate taxes
-providing income for your loved ones after your death
-protect your nest egg for children and grandchildren
-protect your nest egg from creditors
-provide an income during your lifetime and continued management should you become
incapacitated
-provide income and management of your assets for children who are disabled and are unable to
care for themselves and need assistance or those who rely on government aid and financial help
-put assets into a trust that is created to execute your wishes and needs
-ensure your wishes are carried out, especially if you are married for second time and have children from your first and/or second marriage

2007-10-11T20:26:00.000-07:00

ESTATE PLANNING - STEP ONE

Identify your goals. Your estate can accomplish a mutlitude of goals such as:
-providing comfort and security during your life
-continued managment should you become ill and unable to do it
-reduce estate taxes
-provide income for your loved ones upon your death
-help secure and protect your nest egg for your children and grandchildren.
- provide assistance and income for those with special needs. If you have children with disabilitied who cannot manage money, rely on government aid, we can help with that
-you may want to put your assets into a trust with special provisions for your loved ones in need but also protecting the assets from third parties and creditors
-second marriages. Those with children from a first marriage may need special protection to ensure that your wishes are carried out.

MAKE A LIST OF YOUR ASSETS - STEP 3
Make copies of your records and a list of your assets and put that list with your Last Will and Testament. A place where you know that your loved ones will look. It makes their life easier at a time that is difficult enough and it also ensures that they will collect all the assets and not miss an insurance policy or stock etc. You can give that list to your attorney in a sealed envelope also to put with your Will. We have special forms to complete the list.

PROFILE ABOUT OUR OFFICE

2007-10-07T12:03:00.000-07:00

I have been practicing law for over 16 years. i have worked for law firms in Nassau and Suffolk County. I have traveled and handled cases in the 5 boroughs of the City of New York as well as Westchester. I have handled many estate matters in Westchester. I have experience in litigation, trial work, personal injury, criminal law, divorces, family law and every area of elder law, probate, administration, Wills and trusts. Over the years my practice has focused on Wills, trusts, probate and administration thereof.

I have many clients that live out of New York and are executors of Wills and Estates that are in New York. We provide a complete service. We will help you collect the assets, manage the assets, maintain them, handle the Surrogate Court process, file the Estate tax return (generally there are no taxes but one must be filed) and the distribution. We are currently helping a client who resides in Florida, the property is in New York, and we have helped him get it cleaned, renovated and will even check on the property until it is sold or disposed of. As an executor of an estate, you will recieve a commission for your services as such. The commission helps to compensate you for your time that you spend on the phone with us or what ever you may do. This commission starts at 5% of the estate and is based on a sliding scale set by New York State Surrogate's Court procedure act and law.

Please call for a free consultation.

2007-10-05T19:35:00.000-07:00

Did you know that in New York your spouse is the only person that is entitled to part of your estate no matter what your Will says? Yes, your spouse is entitled to 1/2 plus $50,000 of your estate even if you leave everything to your children, charity or whomever. The only time to be sure that your spouse does not get part of your estate, living together or not, is to either have a prenuptual, post nuptual or an executed waiver of the right of election form. Many of our clients have prenuptual agreements but it is not specific enough or it is not notarized or executed properly to be valid. For a free consultation please call. Our office also offers senior citizen discounts and home consultations.

We offer a one time fee for the drafting and execution of your Will. You may make as many changes as you like at no charge. We also offer a full service in that we provide estate planning, power of attorney forms, living will and health care proxy forms.

We are available 24 hours a day, 7 days a week. We are dedicated and reasonalbe rates.

Spouse's right to your estate in New York

2007-10-02T20:27:00.001-07:00

It is very important that when planning your estate that you consider whether or not you need a pre-nuptual or post-nuptual agreement. It is important to consider if you have children from a previous marriage or out of wed lock (with someone other then your current spouse). The form will include a statement that your spouse will waive a portion or the entire portion of the estate that she or he is entitled to as your spouse in New York. If you die with or without a Will you will need this agreement if you intend to have your children or other inherit your estate and not your spouse. However, your spouse must agree and sign this document. If not, your spouse has the right to file an form known as a waiver and not file a "right of election" in your probate proceeding or administration proceeding. This document, discussing it and thinking about it can save your family and estate a lot of money and time.

2007-09-25T19:39:00.001-07:00

Elderly should be careful with their assets and plan ahead. Now you have to plan ahead at least 5 years in advance due to the Look Back period. We can help. We offer huge discounts to senior citizens as well as free advice and information. Please see our website at http://www.liestateattorney.com/ or http://www.lilawservices.com/ or call us anytime. Bonnie Peters-Lawston. We are also certified Guardian Ad Litem and are on the Surrogate's Court list for appointments for both Nassau and Suffolk Counties. However, we will assist you if you live anywhere in New York State, on Long Island, Queens, Brooklyn, Manhattan, Westchester, the Bronx, etc.
Labels: Elderly law - planning ahead

PROBATE AND ESTATES

2007-09-24T20:55:00.000-07:00

Our office has probated several estates whereby the client's have not updated their Wills or have written on the Wills thinking that those changes will be valid and their wishes upheld. That is not the case. The changes have to be executed in the same manner that a Will does with the same formal requirements. Updating a Will is easy and inexpensive and can be costly if not done. Its costly and worst part of all, the testator's wishes are not upheld. So the person dies thinking that their changes are honored and its not the case.

We always offer discounts to those in need and senior citizens. We probate the most difficult Wills, and help those probate the Will and collect the assets. We always look forward to helping the client and closing the Estate out. Our clients are happy with our services.