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Adults can provide instructions in their will regarding disposition of their remains or designate a person in their will who will make that decision. However, many people die without a will. In that situation, who decides what happens to your body when you die? Who Decides How Your Remains Are Disposed of When You Die … Read more
When developing your estate plan, it is important to provide your lawyer with information on all of your financial assets. This is because executing a will is not sufficient to dispose of certain assets, known as “non-probate assets.” Such assets are not controlled by the terms of your will but must be considered in your … Read more
Planning for death or incapacity can be an intimidating task for anyone. However, if you identify as an LGBTQIA+ individual, you may have additional considerations when it comes to protecting yourself, your partner and your family. As a result, it is important to consult with an attorney to discuss your wishes and help ensure that … Read more
You are probably not going to receive a nine-figure payment, whether by accident or on purpose. However, you can still learn some valuable lessons from a group of finance firms that did get $1 billion mistakenly. In a recent case in the U.S. Courts of Appeals for the Second Circuit, the Court addressed whether the … Read more
If a loved one no longer has the capacity to take care of themselves or their finances, it may be time to seek guardianship. Under New York law, an interested person can file a petition to have a guardian appointed over either the ‘person’ or property of the incapacitated person. Once appointed, the guardian is … Read more
When preparing and filing personal income tax returns, it’s common to have deductions that exceed the amount you are allowed to take on the current year’s tax return. In those cases, you may be able to carry over those losses to apply against income earned in future years. But what happens if you die without … Read more
If someone is injured by an employee, there may be grounds for suing the employer for negligent hiring and retention of that employee. However, there are strict requirements for bringing a claim which can be difficult to establish, as we discussed in a prior blog post involving a lawsuit against a church. In that case, … Read more
A proper estate plan involves more than just drafting a will. That’s because a will only controls the distribution of what are known as “probate assets.” These are assets that do not have separate beneficiary designations. “Non-probate assets,” which include life insurance, retirement accounts, joint bank accounts, and real property owned “with rights of survivorship,” … Read more
Conflicts between fiduciaries (whether executors or trustees) and beneficiaries are not unusual. For instance, these often occur with trusts of long duration, where the trustee controls a beneficiary’s access to assets which the beneficiary would prefer to have outright. Disputes may also arise among co-executors or co-trustees, especially if they have differing views on how … Read more
Generally, wrongful death actions are governed by Article 5 of the New York Estates Powers and Trusts Law (EPTL). Such lawsuits are usually commenced by the appointed estate representative and only allow recovery of damages for “pecuniary injuries resulting from the decedent’s death to his distributees” or heirs. These may include damages for their loss … Read more