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Why draft a will with a lawyer? Disclaimer: this article is for informational purposes only, as is not to be construed as legal advice. We are happy to answer any questions you may have regarding estate planning. Call Quinn & Tyrrell at (516) 221-5100. 3330 Park Avenue, Suite 2, Wantagh, New York 11793. Why draft a will with a lawyer? Your Last will and Testament is a sacred document.
The Effect of a Spousal Election on a Tax Exoneration Clause: “A Rejection with an Exception” Introduction: When a decedent passes away, his estate bears either federal or state estate taxes. In the United States, a decedent spouse is entitled to gift everything they own to their surviving spouse free of any taxes. Generally, in New York, EPTL 2-1.
What is a Totten Trust? A Totten trust is a common testamentary substitute. A testamentary substitute is an instrument that determines the disposition of a decedent’s property on its own, without the need for a will. A Totten Trust (also known as a “Payable on Death Account) is created during the lifetime of a decedent.
How to contest a will or a trust? This article will provide a brief overview on how to contest a will or a trust, and whether or not you are able to. This article is for educational purposes only, and is not to be construed as legal advice. If you have any questions feel free to call our firm, Quinn & Tyrrell, for a free consultation.
What is a divorce and how to get one. This article will provide you with a brief overview on what a divorce is and how to get a divorce. If you have any questions contact our firm, Quinn & Tyrrell, Nassau county divorce lawyers. What is a Divorce? A divorce is a characterized as dissolution of the marital partnership.
What happens if you die without a will in New York? Intestacy – Dying without a will in New York. When an individual dies without a will, they die intestate. This means that the deceased’s assets are divided up in accordance with the law. In New York, Estates Powers and Trusts Law 4-1.1 provides for a distribution.
About estate planning, wills and trusts in New York Estate Planning Basics 1. Will: A legal document that provides for the distribution of your assets upon your death. 2. Codicil: This is a document that supplements one’s current will. 3. Probate: The legal process of proving the validity of a will.
This article is provided by our firm, Quinn & Tyrrell, Long Island trusts and estates lawyers for informational purposes. If you have any questions contact our firm for a free conultation What is the purpose of a will? Planning is important. We spend a lifetime gathering valuables and assets, and it is important that you exercise your right to ensure that your valuables a ...