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June 2017 Archives

Revising your estate plan after a divorce

When it comes to estate matters, a number of unexpected hurdles can create challenges. For example, you may be facing hardships following the loss of your spouse or a person who was granted power of attorney. However, you may need to make revisions to your estate plan after you and your marital partner split up. At Joseph A. Ledwidge, we understand how upsetting these experiences can be for New Yorkers, but it is pivotal for people in this position to address any estate issues that arise after a divorce.

Do you need to challenge the executor of an estate?

There are a lot of things to worry about when someone passes away. Whether it was a predictable passing, such as from a progressive disease, cancer or an accident, there are financial and legal issues that arise after a death. Someone will need to pay off and close accounts, such as utility accounts and credit cards. Then, there's the process of handling the actual estate and distributing assets in compliance with the wishes of the deceased. You may feel like there is less to worry about because the person who passed away left an estate plan or last will. Sadly, that won't prevent serious financial or estate issues.

Granting someone power of attorney

A variety of questions may arise during the estate planning process, such as trying to decide between different types of trusts or being unsure of how to distribute assets among beneficiaries. In Jamaica, and other cities around New York, some people may be trying to decide if granting another person power of attorney is the right move. At Joseph A. Ledwidge, we have firsthand knowledge of the different issues that may arise when it comes to power of attorney.

Heir claims he was cheated out of $70,000

With regard to probate, there are many issues that executors, heirs and decedents may want to take into consideration. For example, heirs should be aware of any wrongdoing during the probate process, which leaves them with a smaller amount of assets than they were entitled to. Unfortunately, this takes place too often in New York and it can be very hard for people who are alerady going through emotional pain.

What should I know about estate tax?

If you are preparing to set up your estate plan, there may be many different types of questions you have, such as determining how to divide your assets between beneficiaries. However, you should be aware of other topics that may impact your estate, such as estate tax. In Jamaica, and in other New York cities, you should try to prepare for any potential hurdles that may arise during the estate process, such as how estate tax is calculated.

Talking with loved ones about probate

When it comes to estate matters, a myriad of issues could affect you, whether you are in the early stages of setting up your estate plan or are struggling with your duties as an executor. At Joseph A. Ledwidge, we can sympathize with people who have encountered these challenges in all parts of New York. Unfortunately, they can create a rift between family members, which can be even more devastating after a loved one has passed away. As a result, you should try to work with your loved ones to lock in a positive outcome, regardless of the nature of your complications.