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April 2016 Archives

Prince's possible heir

Music fans and pop culture enthusiasts in New York were likely shocked and saddened by the news of Prince's death, and some have begun speculating about what will happen to the late singer's estate while others still mourn the legendary star's passing. If Prince has a will, it has not yet been made public knowledge. This means his sister looks like the mostly likely candidate to inherit his fortune.

Sibling contentions over parental estate plans

A New York resident might seek information about a parent's estate plan through legal avenues, but this could be extremely unproductive. A parent cannot be sued for simply creating an estate plan. In addition to increasing family tensions by suing a parent or their representative, this could provide information to others in the family about intentions with regard to legal battles after that parent expires. A parent is not legally bound to leave their estate to children or grandchildren. The only legal obligation is to a spouse.

Tips for beneficiaries of a house

New York residents who have inherited a house that is far away from where they are currently living may be wondering what to do with the property. Whether the beneficiary decides to sell, rent or live in the house, there are several things to consider beforehand in order to avoid making mistakes and benefit from the inheritance.

Executors and getting help from appraisers

When New Yorkers are appointed as executors for their parents' estates, they may need to get the help of property appraisers. These professionals will determine the worth of different assets, some of which people may initially believe are not worth much but which turn out to have value.