Who Pays the Bills? Understanding Estate Expenses in New York
In New York State, the expenses of the estate during the administration process are typically paid from the estate's assets, not from the personal funds of the executor or administrator. These expenses include things like:
Funeral expenses – Often paid early in the process to settle the decedent's...
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Your Right to an Elective Share: A Guide for Disinherited Spouses in New York
In New York State, if a surviving spouse is "disinherited" (i.e., not provided for in a decedent’s will), they have the option to claim an elective share of the decedent's estate. This legal right allows a spouse to receive a portion of the estate, even if the decedent's will does not provide for them....
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Wishing you a wonderful end of summer
Dear Clients and Friends
PLANNING FOR THE FALL. As we savor the last days of summer and look forward to the cooler days of fall, it's the perfect time to explore the city and enjoy all that the season has to offer. Whether you're planning to catch a
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Inheritance on hold? Most Americans don’t understand the time and expense of probate
At Sverdlov Law, we recognize that navigating the legal process following a loved one’s death can be daunting. Many Americans are unaware of the complexities, time, and costs associated with probate.
For a detailed exploration of this topic, we recommend reading the insightful article by USA Today, "Inheritance on...
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Removing a Bad Executor and Taking Control: Your Legal Rights and Options
Do you think that the Executor of an Estate is doing a bad job? Do you want to remove a Trustee from a Trust? It's not as easy as you think. Estate management can be riddled with challenges, particularly when conflicts arise between beneficiaries and Executors. In this video, we'll discuss some essential points for removing...
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3 Things to Remember When Administering an Estate in New York to Avoid Litigation
Administering an estate in New York involves significant responsibilities that demand attention to detail and careful planning to avoid potential litigation. Please watch this short video or read the entire script below, which will provide crucial insight for estate administrators, highlighting three vital strategies to ensure a smooth process and minimize the...
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How Long Does Probate Take in New York
If your loved one has recently passed away, you may be wondering - how long does the probate process take in New York. Please watch this short video or read the entire script below, to learn about the timeline and the step by step process of probate in New York.
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What happens if there are not enough assets in the Estate to pay all claims
Purpose of probate: Probate of the estate serves several purposes. It starts with identifying the heirs of the estate, continues with identifying the assets owned by the decedent, continues with paying the claims of the estate, and is finalized by distributing the remaining assets to the required beneficiaries. Every single step of this process...
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Account Closures and Cancellations
One of the hardest parts of losing a loved one is dealing with the financial aftermath. While your family and friends are aware of the passing, the rest of the financial institutions are not and they will keep sending the bills. Gym memberships, subscription wine club memberships, student loans, credit cards, Netflix subscription, utility...
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Basics of Planning a Funeral
Pre-Planning is best because it eases the burden on your loved ones. If you have specific wishes (i.e. – scattering your ashes over Yukon, Canada or getting buried under a specific tree) you should at least write these wishes down and ideally arrange for their execution. However, that is not always possible and millions...
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