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My Will has a “No Contest” clause. Is it Foolproof? A “No Contest” clause or “In Terrorem” clause is often thought of as a way of preventing a challenge to a Will. If properly drafted and used under the right circumstances, a “No Contest” clause can be advantageous...

Irrevocable Life Insurance Trust Individuals purchase life insurance for a number of reasons. Some do it as an investment. Others do it as a wealth planning strategy. If you purchase life insurance so that you can have liquidity to pay estate taxes, then the owner of...

Getting Limited Letters of Administration for a New York Estate There is a difference between Letters Testamentary, Letters of Administration, "Limited Letters of Administration", and Temporary Letters of Administration. This post will explain the process of getting...

What Happens if the Executor Steals From the Estate? An Executor of an estate must, among other things, collect the assets of the estate, pay any estate debts and taxes, pay the expenses associated with administering the estate (for example, legal fees associated with...

What are the Alternatives to Guardianship?  Guardianship is an arrangement whereby a Court appoints someone to help manage an individual’s healthcare and financial affairs when they are no longer able to do so on their own. Typically people who require guardians are...

When to File for Adult Guardianship in NYC Often times we find ourselves wondering whether the time is right to file for adult guardianship in NYC. The below sets forth a few instances that should raise red flags and should get you thinking about filing.  Please...

Resign as Executor of NYC Estate In New York, individuals nominated in a Will may become Executors of the decedent’s estate. (Individuals designated on consent are called Administrators, cta.) Being an Executor is a voluntary role and the nominated executor may refuse...

Changes to the Power of Attorney in New York State On December 15, 2020, Governor Cuomo enacted a law which made sweeping changes to the Power of Attorney Statute in New York State. The law will be effective 180 days after signing (approximately June 2021), and...

Medicaid Pooled Income Trust A Medicaid Pooled Income Trust allows an individual to divert their excess income. In order to qualify for Medicaid in New York, an individual must meet certain income and resource requirements. For the year 2021, an individual’s resources...

Living Trust - Here’s What you Need To Know For most people, a Last Will and Testament is the first choice for passing on their assets to their heirs. But it's not the only choice. Among other estate planning tools, the Revocable Living Trust is gaining in popularity,...

Your Estate Planning Checklist Estate planning is the process of arranging, during a person’s lifetime, for the management of a person’s assets and affairs when the person becomes incapacitated or dies. It is important to create a plan. It is equally important to...

What is a New York Power of Attorney? A New York Power of Attorney is part of the Advance Directives packet.  A New York Power of Attorney is a document that allows you to designate one or more individuals to manage your financial transactions during your lifetime. ...

Duties of Executor of NYC Estate Deborah’s father, Abe, died a resident of Brooklyn in March 2018.  He was survived by his three children, Susan, Deborah, and Greg.  Abe had executed his Last Will and Testament and named Deborah as his Executor, but failed to name a...

Contest a Will in New York A Will contest is a type of estate litigation where an individual will "contest a will" or question the validity of a will. When Can You "Contest a Will" in New York? Wills can be contested on several grounds. An objectant/challenger to a...

How Do I Get a Copy of the Trust? You recently learned that your parents created a trust. Your sibling is named the Trustee. Although you are not a Trustee, you strongly suspect that you are a beneficiary. Your parents never gave you a copy, or, even if they did, you...

Dear Clients and Friends, First and foremost, we hope this post finds you and your family safe. As we are all restructuring life in the wake of COVID-19, we want you to know that RK LAW PC is here to help if you need assistance  We profoundly care about our employees...

Important Estate Planning Documents The markets have tanked. The kids are home. The bars and gyms are closed. Broadway has shuttered. How can you distract yourself from staring gloomily at your retirement account and your kids asking you when the germs will go away?...

Can I Be Forced to Sell Inherited Real Property? Consider the following: Mariya, age 93, died five years ago. At the time of her death, her biggest asset was her house in Brooklyn valued at well over one million ($1,000,000) dollars. Mariya had three daughters, Amy,...

How to Execute a Will in New York Properly A Will is a written instruction manual for disposing of your assets. It is a document that overrides the New York State default rules for disposing of a person’s assets after their death. In order for a Will to be given...

CAN A GUARDIAN SELL HIS WARD'S PROPERTY? Can a Guardian sell property belonging to his ward? Typically, such sale is subject to Court approval. Consider the following example: Joe, a resident of New York County, suffers from Dementia.  A Mental Hygiene Law Article 81...

Access a Dead Person’s Email or Facebook There exist limited ways to access a dead person’s email or Facebook or other online accounts, even if just to procure some of the available information.  How Can You Access the Dead Person’s Email of Facebook Without a Court...

File to Be Administrator of Estate When someone dies without a Will and leaves assets without a beneficiary designation, someone must file to administer the Estate.  An Administrator is the fiduciary of an estate of a decedent who died without a Will. In this post, we...

Probate assets are Assets that do not Pass by Beneficiary Designation or Operation of Law. Consider the following example: Gretta died in February 2019 domiciled in Brooklyn and survived by her three children. She had a last Will and Testament that named her daughter,...

How to Prove Kinship in NYC. In NYC, it is important to prove kinship when you want to inherit from a distant relative, such as a cousin. Consider the following example: Richard, a Kings County resident, died three years ago without a will.  At the time of his death,...

How do I Become an Executor or Administrator of an Estate? In New York, after a person (known as a "decedent') dies, another person may need to become executor or administrator of the decedent's estate. If the decedent had a Will and has assets that do not pass by...

Opening a Safe Deposit Box After Death in New York City Banks will often seal a safe deposit box following the death of an owner (or co-owner). Pursuant to SCPA 2003, An "interested party" (e.g., spouse, beneficiary, fiduciary) may access the box for certain purposes,...

Roles of Administrator cta and dbn of an Estate What is an Administrator c.t.a.? Scenario A: Georgia passed away in May 2018, a resident of New York County.  She was widowed at the time of her death, and she was survived by only her two adult daughters, April and...

Roles of Executors and Administrators of a NYC Estate Allison’s father, Kenneth, a Brooklyn resident, died in March of 2018.  Kenneth was a widower, but survived by his three (3) children, Allison, John, and Nathan. In his Last Will and Testament, he named Allison as...

NONPROBATE ASSETS vs. PROBATE ASSETS People often confuse nonprobate assets and probate assets. They also often confuse taxable vs. non taxable assets. Probate assets are those that do not have a beneficiary designation. They are assets that were either not capable of...