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December 2015 Archives

Estate planning to benefit multiple generations

New Yorkers who have spent their lives working hard to amass wealth are often concerned about how to preserve it so it will benefit multiple family generations. Due to factors such as dividing assets between beneficiaries, the effect of risk and taxes with each successive generational transfer, family wealth can be depleted in as little as two or three generations.

Probate process in New York

When a person dies, whether or not there is a will, the decedent's estate will be subject to the probate laws for the distribution of his or her assets. Probate laws exist in order to protect creditors, beneficiaries and heirs, and the probate process involves making certain taxes and debts are paid as well as passing assets to beneficiaries or heirs.

How to dispute a will

When it comes to challenging a will, New York residents may find the process difficult. However, there are times when someone, especially the decedent's spouse, can successfully challenge a will based on certain circumstances.

2nd will before court in New York man's ongoing estate saga

According to reports, a second will has now been filed for the court to consider in the ongoing case of a wealthy Staten Island man who died, leaving a $40 million estate without apparently having heirs. The 97-year-old man's wife predeceased him, and they had no children.