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April 2017 Archives

Handling your responsibilities as a trustee

If you have been named a trustee, you may be facing numerous hurdles. On the one hand, you may be struggling with unbearable emotional pain due to the loss of a loved one. However, you may also be unsure of your responsibilities or how to handle some trust-related issues. At Joseph A. Ledwidge, we know how challenging this can be for trustees and entire families in Jamaica, and all across the state of New York. By recognizing and carefully managing your responsibilities, you may avoid certain complications.

Your will matters: What happens if you die without a will?

Your will is the one document that can explain everything you want to see happen with your estate after you pass away. Anyone can die at any time, and that's why so many people insist that it's important to have a will early in life. When you don't have a will, it's harder to know what will happen to your assets and who will end up benefiting from them.

Managing your responsibilities as a trustee

From being named a trustee by a loved one who is drafting his or her trust to disagreements that come up during the probate process, there are a number of ways that trustees find themselves involved in an estate. After the trustor passes away, however, trustees play an especially important role. If you have been named a trustee, it is vital to be fully aware of your responsibilities. At the New York law offices of Joseph A. Ledwidge, we understand the concerns and stress that trustees may have, especially for those who are not very familiar with trusts or the probate process.

Preparing yourself for the probate process

If you lost a beloved member of your family recently, or are worried that a loved one will soon pass away, you may be emotionally distraught. Depending on the circumstances of your situation, you may find yourself anticipating the probate process, which can make things even more difficult if you have no idea of what could lie ahead. At the New York law offices of Joseph A. Ledwidge, we can understand the challenges that people who are dealing with this may often encounter. However, you may be able to relieve some of your worries and work towards a more favorable outcome if you thoroughly prepare for probate.

Estate planning for each stage of life

Let’s face it. It’s not easy to think about estate planning when you’re young. There are so many other things to worry about (like how to pay for college, filing taxes, or even what to cook the family for dinner.) Despite the daily concerns that seem to run our lives, planning for the future can be very beneficial in ways that you may not realize until later in life.

Executors, wills and warning signs

If you have been named as an estate's beneficiary, you may have an assortment of questions related to wills. At Joseph A. Ledwidge, our law firm knows that it can be difficult for beneficiaries to have a firm grasp of their rights, especially for those who are not very familiar with the relevant laws related to an estate. Unfortunately, in Jamaica, and in other New York cities, executors do not always act in good faith. As a result, beneficiaries should keep an eye out for any red flags that an executor is not remaining honest with regard to his or her fiduciary duties.

What happens to estates when U.S. citizens die overseas?

From will contests to distributing assets, you may have many questions regarding an estate. However, it is important to remember that there are unique situations that can affect a person's estate, such as dying in another country. Whether you are making plans related to your estate or you recently lost a loved one who was traveling at the time of their death, understanding what happens to an estate when the decedent passed away in a foreign country may be very helpful. In Jamaica, New York, and everywhere in the U.S., handling these types of circumstances appropriately is incredibly important for everyone involved.