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February 2017 Archives

What are fiduciary duties?

If you have been named the executor or administrator of an estate, you may have a number of questions concerning your responsibilities and handling estate matters. It is crucial to recognize your responsibilities and key terms, such as your fiduciary duties. In Jamaica, New York, and all over the U.S., handling estate issues can be stressful. However, by familiarizing yourself with the process, you may be able to avoid complications or handle problems, such as a will dispute, appropriately.

Small estates, wrongful death and probate

After someone passes away, their family members may encounter various hurdles. In Jamaica, and all New York cities, families in this position may have unanswered questions or stress because of court. Sometimes, there is infighting between beneficiaries, which can make the loss even more painful. However, other issues may arise that families are not always aware of right away, such as whether or not a probate proceeding is necessary for a someone who had a small estate but did not leave behind a will.

What is a voluntary administration proceeding?

When it comes to handling a loved one's estate after they pass away, a multitude of issues may arise, from distributing their assets to settling a dispute between family members. In Jamaica, and across New York State, there are a plethora of issues that may be unique to a family's situation and every case is different. For example, handling the probate process can be very different for those who are managing a small estate in comparison to those who are responsible for a sizable estate. However, it is essential for the administrator of any estate to ensure that they approach the probate process correctly.

3 things to know about contesting a will in New York

Contesting a will is something you may need to do if your parent passes away and everything isn't as you expected. For instance, if you had previously been the main heir to your parent's estate and now it's going to someone outside the family, that could draw some red flags. If you're not sure that the will was changed appropriately, you can contest it. Here are a few things you need to know.

Do resident aliens have to pay estate taxes?

From naming an executor to distributing assets among beneficiaries, there may be a number of issues you are dealing with regarding estate planning. If you or one of your loved ones have a green card, you may be wondering how your residency status could affect certain estate-related matters, such as the estate tax. Whether you reside in Jamaica, New York, or anywhere in the U.S., it is important to consider any possible factors that could affect your estate.