As you begin thinking about who will care for your children should you die tragically young or where your assets will go upon your death later in life, you also need to consider a power of attorney. This is an important designation that is included in any and all...
James Brown’s estate is still pending 11 years later
On Behalf of Salem Shor & Saperstein, LLP | Feb 7, 2018 | Probate/estate Administration
The late James Brown passed 11 years ago, yet his estate is not yet settled. His estate plan did not distribute his wealth well, according to a report, and in reality, not a cent has gone to his beneficiaries. The report states that there have been dozens of disputes...
How can you make being an executor easier?
On Behalf of Salem Shor & Saperstein, LLP | Jan 31, 2018 | Probate/estate Administration
It's never easy to be the executor of an estate. Many important things rest on your shoulders. While you might be alright with being in charge of another person's financial matters, it's still a difficulty that you may not enjoy. Fortunately, there are some ways to...
Choosing an executor is necessary when estate planning
On Behalf of Salem Shor & Saperstein, LLP | Jan 17, 2018 | Probate/estate Administration
If you have started planning your estate, then you may realize that you need someone to become an executor for your estate. An executor has an important job to do. He or she is in charge of making sure your last will and testament is carried out as you wished. The...
What are some estate planning terms to know?
On Behalf of Salem Shor & Saperstein, LLP | Dec 11, 2017 | Probate/estate Administration
As you get older, you begin to understand the importance of estate planning. As soon as your first child is born, you realize that a will is necessary. A trust could protect your child's future inheritance, and pointing out guardianship in the case of your death...
The holidays are a good time to talk about estate plans
On Behalf of Salem Shor & Saperstein, LLP | Nov 17, 2017 | Probate/estate Administration
As people age, it's important that they begin to talk about estate planning. It can be a difficult topic to bring up, and it may be uncomfortable. Despite that, it's a good idea to talk about estate planning, because without a good plan, the estate could be heavily...
How do you value an estate?
On Behalf of Salem Shor & Saperstein, LLP | Oct 31, 2017 | Probate/estate Administration
Planning for death is always a touchy topic, but it's best not to avoid it. Before you can finalize your estate plan, there are many things that have to happen. Valuing your assets is one of those things. Estate valuation is an important process. This valuation...
3 ways to avoid the probate process
On Behalf of Salem Shor & Saperstein, LLP | Sep 21, 2017 | Probate/estate Administration
Probate can be a long process, so it's best if you're able to avoid it. Probate can take months or years to be resolved, and it can cost thousands of dollars. The longer it takes, the more it will cost overall. When someone leaves behind assets for heirs, that...
This is what happens if there is no will when a loved one dies
On Behalf of Salem Shor & Saperstein, LLP | Aug 11, 2017 | Probate/estate Administration
If a loved one passes away without a will, then it's important to understand how his or her estate is passed down in accordance with New York's laws. When there is no will, you and your family may be called "distributees" instead of heirs. This term refers to anyone...
How can you know if you have the right executor or trustee?
On Behalf of Salem Shor & Saperstein, LLP | Jul 13, 2017 | Probate/estate Administration
Choosing the right trustee or executor makes a major difference in your estate plan. If you already have a will or trust, now is a good time to review who you appointed to be your executor or trustee, so you can be sure you made the right decision. There are several...
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