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February 2016 Archives

Remedies for executor malfeasance

People in New York who are beneficiaries under a will may be put in a difficult position if the executor does not perform the required duties duties promptly or effectively. Beneficiaries have the right to make executors take care of their obligations. An estate can be damaged and lose value due to an executor's actions.

Important steps for avoiding probate

The thought of having an estate go through probate could be worrisome for some New York residents, especially if there is a significant possibility of some potential heirs disputing the distribution of assets as outlined in a will. Avoiding probate can save both time and money, and some of the potential stresses and contentions might be minimized as well. Further, avoiding probate can protect the privacy of those involved. However, it is important to understand the steps needed to limit the risk of a drawn-out probate process.

The duties of an executor

New York residents who have been chosen as executors under someone's will have a number of important duties as well as challenges ahead. One of the difficulties of being an executor is that the person may face pressure from heirs to distribute assets as soon as possible. However, the executor should be wary of doing so before all debts are paid. Otherwise, the executor may end up without enough to cover those debts and have to pay out of pocket.