Rich and Famous Planning: Lessons learned from Prince’s mistake
As most people by now know, the artist Prince died without a Will. The family is now set up for tens of thousands in legal costs and years of delay before the money gets distributed. When a person dies without a Will, regardless of the size of his estate, numerous problems come up....
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Leaving Real Estate Property to More Than One Heir May Cause Future Problems
Property partnership may end for a variety of reasons. One common category of circumstances when real estate litigation occurs involves siblings who inherit property from their parents and have different wishes. Multiple problems can arise. One sibling may want to live in the property while the other one wants to rent it out....
Leaving Real Estate Property to More Than One Heir May Cause Future Problems Continue reading…
Can Court Reform a Will When the Attorney Made a Drafting Mistake?
In a recent New York case, a Will provided for disposition of 2/3 of the property (leaving property to decedent’s siblings, nieces and nephews) and was silent about the disposition of the remaining 1/3. In re Isasi-Diaz, NYLJ, Mar. 28, 2014, p. 35 (Sur. Ct., N.Y.Co.) (Mella, S.) The attorney-draftsman provided an affidavit...
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Can you have a Digital Will in New York?
In a recent Australian case, Re Yu [2013] QSC 322, a digital Will was admitted to probate. Mr. Karter Yu, prior to committing suicide, drafted several documents on his I-phone, saying farewell to his family and friends. One of these documents was his stated Will, appointing his brother as an Executor. The court, after...
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Heirs may not get to keep the money that factory owner earned through illegal activities.
When Arthur Mondella committed suicide in February 2015, he thought that his three daughters and his sister will inherit his $8MM fortune. Mr. Mondella committed suicide when his illegal marijuana growing business was discovered under the floor of his maraschino cherry factory. The factory was started by his grandfather and father in 1948, and...
Heirs may not get to keep the money that factory owner earned through illegal activities. Continue reading…
No direct relatives and no will? Result: Years of Surrogate Court Process!
What happens if a person dies without direct relatives and without a Will? The result is a long and expensive process for the heirs, that could last years and cost thousands of dollars.What happens if a person dies without a will? New York State has an administration process under which the assets are distributed...
No direct relatives and no will? Result: Years of Surrogate Court Process! Continue reading…
Should you use the Do It Yourself website for your estate plan?
Many people believe that their situation is so simple, that they have no need to go to an estate planning attorney. However, I do not pretend to be an expert in many fields of work (I'm not a doctor, I'm not an engineer, etc.). Why do so many people think that they are an expert...
Should you use the Do It Yourself website for your estate plan? Continue reading…
What happens when a Will is lost? A case illustrates a need for properly storing your documents!
A New York case, the Matter of the Estate of Robyn R. Lewis, is going up in front of New York Court of Appeals now, to decide a case of a missing Will. Robyn Lewis executed a Will in Texas in favor of her husband; the Will also provided that if the husband...
What happens when a Will is lost? A case illustrates a need for properly storing your documents! Continue reading…
Can Wills be challenged? Absolutely! A disowned daughter and an almost-disowned son prove that it is possible to do so even when the grounds for the challenge are legally dubious!
A lot of people think that if a Will was executed under a supervision of an attorney, then the Will is a rock solid instrument that cannot be challenged. However, that is not a case. A Will can be challenged on many grounds (incapacity, coercion, fraud, forgery and improper execution are some of the...
Can Wills be challenged? Absolutely! A disowned daughter and an almost-disowned son prove that it is possible to do so even when the grounds for the challenge are legally dubious! Continue reading…