answered on Dec 14, 2017
Any will has to go through Probate.
Unfortunately it’s the only way to handle it.
Sincerely,
Inna Fershteyn
Law Office of Inna Fershteyn and Associates, P.C.
1517 Voorhies Ave, Suite 400
Brooklyn, NY 11235
tel: 718-333-2394
fax: 718-701-8859
www.BrooklynTrustandWill.com
We are hoping for a reasonable process for the transfer of ownership to heirs as these minerals are not likely to generate much income.
answered on Dec 11, 2017
I am afraid you need to do ancillary probate in NY.... any other property owned here?
Sincerely,
Inna Fershteyn
Law Office of Inna Fershteyn and Associates, P.C.
1517 Voorhies Ave, Suite 400
Brooklyn, NY 11235
tel: 718-333-2394
fax: 718-701-8859
www.BrooklynTrustandWill.com
I’m fighting with my brother & I’m trying to protect myself before things get worse.
answered on Dec 9, 2017
Who are you getting papers from? And what papers? What Estate is being divided? Is the matter in surrogates court?
Impossible to answer your question without knowing more.
Sincerely,
Inna Fershteyn
Law Office of Inna Fershteyn and Associates, P.C.
1517... View More
He had trouble remembering as he was 93, had signs of dementia.
answered on Dec 5, 2017
The answer is it depends. Was he diagnosed with dimentia? Is anyone challenging the will? I think you need to have a consultation with estate attorney before filing this will in probate.
Sincerely,
Inna Fershteyn
Law Office of Inna Fershteyn and Associates, P.C.... View More
My Father had a trust and will made 4 yrs. ago at the age of 89, in 2014. on Nov. 29 of 2017 He made an amendment to the will and trust signed it and died hours later.
is it a valid amendment ?
answered on Dec 3, 2017
It’s not a YES or No answer it depends. Did he have capacity to sign it? Was he in the right mind? Was he influenced? Was it properly witnessed?
Also if his property passes through a trust what’s a purpose of a will?
Before anyone can asnwer your question I think all the... View More
I recently heard that the Federal Estate tax was around 40%... Also, I heard that on top of the federal estate tax, some states had their own estate tax. Therefore, I want to avoid this by purchasing the assets from my parents over time while they are alive. Would this be feasible? What are the tax... View More
answered on Nov 28, 2017
Again, this is not a real estate question but rather Estate planning one. You need consultation with experienced estate planning lawyer as you are not taking into consideration an appreciation in value of the real estate in your parents hands over time.
If you purchase it from them you... View More
My mother has an LLC with property owned by it. If I were to purchase 90% of the interest in the LLC, would that asset than be 90% mine?
answered on Nov 28, 2017
What does the LLC agreement state? Or you have no LLC agreement?
I think before purchase you should get a consultation with attorney and focus on BASIS (value of property at the time your mom purchased it) to avoid capital gains taxes at sale.
Your question is not really real... View More
My parents have a commercial real estate property owned by an LLC, which they own. The property has no mortgage, loan, etc. I am thinking about purchasing the membership interest in the LLC from them to acquire the property. What would be the tax consequences, advantages, disadvantages? What would... View More
answered on Nov 28, 2017
I think you need to have a consultation with Estate Plannig not real estate attorney as there are estate planning/tax consequences involved here. I would obviously look at the basis (value of real estate investment at purchase) and consider capital gain issues. Best idea is to put LLC shares into... View More
My mother has an old will which was made when I was 14 , all the people mentioned in will are deceased except me. My only sibling passed away. I’m the only surviving heir. Do I have to go to probate or just submit will to court. Are my deceased sisters adult children entitled to her share if... View More
answered on Nov 24, 2017
Submitting a will to court is what it means to probate the will. Maybe before doing so you should have aconsultation with an attorney- maybe it makes more sense to do an administration proceeding instead.
Feel free to call me. Will discuss.
Sincerely,
Inna Fershteyn... View More
Want to just give her the home without her buying it to save on closing cost. House is valued at $400,000.00, If I sell it to her for $200,000.00 is there any tax laws that might come up? Where do I start? I plan on paying off the very low mortgage that I have and giving her the rest of the... View More
answered on Nov 16, 2017
May I ask why are you selling it at all and not passing to her in a trust? Is there any financial benefit involved?
If your basis for the house is very low maybe it's better to do some estate planning first?
When you do a sale transaction there are lots of fees involoved from... View More
Executor refuses to sell the home bc the proceeds will go to me instead of him. Because he hasn't dealt with the bank either, they r trying to foreclose on my home now. Can I petition the court to remove him before it's too late? Or, do I need an attorney to do that? Any advice would b... View More
answered on Nov 8, 2017
Hi, why do you need an executor when you have a trust? Trust governs distribution of the house of house is part of the trust.
You need an attorney to review the trust document. I suggest you get a phone consultation at least. Feel free to call my office.
Sincerely,
Inna... View More
MIL has not lived with her husband for over 20 years, he has lived in South America his entire life, but they were married in NY. She never bothered with a divorce. Does he have any claim on her estate and assets. Her sons are her beneficiaries and she does have a will that does not name him. Thank... View More
answered on Nov 7, 2017
Yes he has a claim as he is still a husband. Call my office we will explain what your mom needs to do to protect herself now.
Inna Fershteyn
Law Office of Inna Fershteyn and Associates, P.C.
1517 Voorhies Ave, Suite 400
Brooklyn, NY 11235
tel: 718-333-2394... View More
My father was dying the beginning of this year and my sister started telling my parents she wasnt going to do anything for them anymore if they didn't sign their house over to her. My father had also told me she was spending thousands of his dollars while he was in rehab, $30,000 to be exact.... View More
answered on Nov 5, 2017
The POA works unless it is revoked. However, if your sister is misusing it there are some actions you can take.
Is there a healthcare proxy as well? Feel free to contact me Monday and we can discuss.
Sincerely,
Inna Fershteyn
Law Office of Inna Fershteyn and... View More
Uncle being disabled I became his state paid caregiver after grandma got too old to do it anymore. The house is his, now that Grandma's passed. The house is where grandma raised me and my Uncle. But my Aunts who have my Uncle now don't know "what to do about the house"? When my... View More
answered on Oct 24, 2017
It's not a family law it's a probate question. What does a will say? You need estate lawyer consultation. If there is no will Intestate succession laws govern
Sincerely,
Inna Fershteyn
Law Office of Inna Fershteyn and Associates, P.C.
1517 Voorhies Ave,... View More
This is for a collection agency. The business has not been up and running yet. So no money in and no money out. We’ve just gotten everything set up now. Also If there are no earnings does it matter if he only charges me a penny per stock?
answered on Oct 23, 2017
What's the purchase price? "0". What about liabilities is he taken them over too?
You need a consultation with Corproate attorney before you proceed. May not need a contract but definitely need to understand what you are doing
Sincerely,
Inna Fershteyn... View More
He did not have a will and my brother is trying to take over
answered on Oct 22, 2017
You should really call estate attorney as soon as possible as you are in for a fight. It's called contested estate and I am in the middle of one right now and it's not pretty.
Sincerely,
Inna Fershteyn
Law Office of Inna Fershteyn and Associates, P.C.
1517... View More
Do I have to give them to her? Does she get a copy of the deed.
answered on Sep 6, 2017
You mean you have a right to live in the house on top of owning 50% of it?
I don't see what Insurance has to do with it but you have to have insurance on the house
Sincerely,
Inna Fershteyn
Law Office of Inna Fershteyn and Associates, P.C.
1517 Voorhies... View More
Co administer an estate ?
My dad died with no will. It is only my sister and I we both live out of state.(The estate - simple , house /land . No debts.)We aren't on speaking terms. We both hired attorneys. I filed for Administrator of the estate first and was granted the position 3... View More
answered on Sep 5, 2017
Sounds like you need another attorney to call your sister's lawyer. Please call my office and we can see what we can do.
Sincerely,
Inna Fershteyn
Law Office of Inna Fershteyn and Associates, P.C.
1517 Voorhies Ave, Suite 400
Brooklyn, NY 11235... View More
We are in our late sixties and our estate consists of the equity in our mortgaged homes and life insurance to be divided between three children. Our daughter and granddaughter live in one home and we live in the other. Our goal is to avoid probate and while we plan to age at home, doing this may... View More
answered on Aug 26, 2017
You need to do Estate planning and set up Revocable living trust (feel free to read more info on how Revocable trust operates on my website below it has comprehensive tutorials).
The best thing to do is to do a Triest, transfer all your real estate and bank accounts into such trust and... View More
they have a will that states if one dies, the other spouse received the whole estate, substantial amount of money
if the husband dies first, the wife gets everything...
my question is: can the 2 adult children sue for part or all of the estate, if so, do they have a case?
answered on Aug 19, 2017
This is a classic case when will will do. Ore harm than good. This couple needs a trust to avoid exactly this situation.
When the will goes through Probate anyone challenge it especially potential beneficiaries not to mention creditors which can be numerous. And if one was getting Medicaid... View More
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