New York Estate Planning Questions & Answers

Q: Good evening, My sister G lives in NYC and is being evicted from a coop bldg. She lived for over 20yrs with an old lady

2 Answers | Asked in Estate Planning, Family Law, Real Estate Law and Adoption for New York on
Answered on Feb 13, 2019
Michael David Siegel's answer
S is the legal heir to the coop, but someone has to pay and S would need to be approved by the Board as an owner. Thus, there are issues to deal with but it is possible.

Q: I need to write a new will and have questions re power of attorney can 2 people be joint /dual power of attorney for

1 Answer | Asked in Estate Planning and Family Law for New York on
Answered on Feb 11, 2019
Michael David Siegel's answer
Two people can definitely be joint POA and the form has a box to check if the two must act together, so yes.

Q: My mother passed away. She lived in NY for almost 5 years before that in Maryland. Do I have to do public notices?

1 Answer | Asked in Estate Planning for New York on
Answered on Feb 10, 2019
Michael David Siegel's answer
No. There is no need for the will or probate. The accounts go to you, and the annuity, on presentation of the death certificate, will go to the beneficiaries. If there is nothing else, you are done.

Q: My father passed away over 20 years ago. It was recently discovered that he did not cash some of his pension checks

1 Answer | Asked in Estate Planning and Probate for New York on
Answered on Jan 10, 2019
Michael David Siegel's answer
The answer depends upon the amount involved, and whether the funds are held by the pension fund or have been sent to unclaimed funds at New York State.

Q: For a couple, one joint revocable trust or two separate trusts?

1 Answer | Asked in Estate Planning for New York on
Answered on Dec 9, 2018
Michael David Siegel's answer
One trust is allowed, but two is better.

Q: In the state of New York can a will direct assets to a revocable trust?

1 Answer | Asked in Estate Planning for New York on
Answered on Dec 7, 2018
Michael David Siegel's answer
The will can direct assets to the trust, which will become irrevocable on death.

Q: My aunt left no will, need to know what steps to take next?

1 Answer | Asked in Estate Planning, Real Estate Law and Probate for New York on
Answered on Nov 26, 2018
Michael David Siegel's answer
If there is no will, your cousin inherits everything. You have no role here. What are you trying to do?

Q: Can someone that is not the next of kin create a trust and have the person with dementia and dying sign trust

1 Answer | Asked in Estate Planning and Wrongful Death for New York on
Answered on Nov 24, 2018
Michael David Siegel's answer
If the decedent was not competent to make the trust, a court proceeding can invalidate it.

Q: Do I need to address any debts or student loans in a will that I draft for myself?

1 Answer | Asked in Estate Planning for New York on
Answered on Nov 18, 2018
Michael David Siegel's answer
No. Generally a will follows the law, and says your executor should pay your debts in general.

Q: how long should estate atty take to meet w us after mother's death?

1 Answer | Asked in Estate Planning for New York on
Answered on Nov 4, 2018
Michael David Siegel's answer
An attorney should meet when you want. This is a service business. As to documents, it depends on what you paid him/her to do.

Q: can i be held accountable for a contract i did not sign? i am one half of an estate and other half signed

2 Answers | Asked in Real Estate Law, Estate Planning, Foreclosure and Probate for New York on
Answered on Oct 17, 2018
Michael David Siegel's answer
More details are required, including the actual contract. But it sounds like it is not binding.

Q: can medicaid make any claim on an estate once it becomes mine

1 Answer | Asked in Estate Planning for New York on
Answered on Oct 8, 2018
Michael David Siegel's answer
You should take the house into trust, to avoid losing Medicaid. You will lose it if they find out about the house.

Q: Can tax return note distribution to a Fiduciary if she will not give EIN number for estate?

1 Answer | Asked in Estate Planning and Tax Law for New York on
Answered on Oct 4, 2018
Michael David Siegel's answer
You should not have made the distribution without getting the EIN number for the return. When you get a receipt and release you should also get the EIN number. However, the IRS will accept the return.

Q: How would creating a lifetime revocable trust allow me to avoid probate?

2 Answers | Asked in Estate Planning for New York on
Answered on Sep 22, 2018
David Lacher's answer
No probate is required for trust-owned/trust-titled assets. The trustee is responsible for distributing those assets in accordance with the terms of the trust, without separate court permission, without separate waivers or consents from any third parties, and without additional separate authority needing to be granted to the trustee. But the main point is, the mere creation of such a trust accomplishes nothing by itself. Once the trust is created, all the individuals’s assets must be...

Q: John owned a home with his father in law as joint tenants iN common. His father in law died, no will, And then john died

1 Answer | Asked in Estate Planning for New York on
Answered on Sep 20, 2018
Michael David Siegel's answer
It depends on the language of the deeds. Without reviewing anything, your latter analysis seems correct.

Q: My moms home in FL had a quit claim on it to me when she died. Will that asset be subject to pay her outstanding bills?

1 Answer | Asked in Estate Planning for New York on
Answered on Sep 9, 2018
Michael David Siegel's answer
Your question makes no sense. If you are the owner, then her debts are not on the house. If she is, there is a way to deal with it, but as she lived in FL it is an FL question.

Q: In New York State, is the executor's fee for handling an estate calculated on the gross or the net of the estate?

1 Answer | Asked in Estate Planning for New York on
Answered on Sep 6, 2018
Michael David Siegel's answer
Gross, but you are doing it wrong. Real estate cannot be sold unless there is a will requiring it, and there are no commissions on real estate unless circumstances are right. Will can also limit rate.

Q: I was administrator for an estate in erie county new york and was not paid any commission is that right?

1 Answer | Asked in Estate Planning for New York on
Answered on Aug 20, 2018
Michael David Siegel's answer
You should have been paid. It is governed by statute. But if the money is gone, it is too late.

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