明星黑料

What is probate? When a person dies and leaves a Will, and there are assets in the Decedent鈥檚 individual name that do not pass by operation of law, there is a legal process that takes place that is called probate.

My father is about to enter a nursing facility. He may have to spenddown some of his money in order to qualify for Medicaid. I was told that he could pre-pay his own funeral and he may be able to pay for his children鈥檚 funeral as well. Is this true?

My sister recently passed away and I just found out that I was named executor of her Will. I am really busy with my job and family and really do not want to serve. Can I decline or resign from being executor?

While discussing an estate plan with a client, she stopped me and said 鈥淲hat is probate.鈥� Sometimes we forget to explain the simplest concepts. Probate is the process by which a Last Will and Testament is given effect.

I heard that there were changes to the STAR property tax relief program. Will I be affected? Does it matter that my house has been transferred into an Irrevocable Trust?

I was recently named as an agent on my mother鈥檚 Durable Power of Attorney which included a 鈥渟tatutory gift rider.鈥� What is this document and what responsibilities will I have?

I am unmarried and have no children. My parents are deceased and I have one sibling, a sister. I currently have no will. Who would inherit from my estate if I died without a will?

The typical Medicaid trust is a grantor trust for income and estate tax purposes. The grantor trust rules came about after high earners tried to lower their income tax consequence by scattering their income to various trusts over which they maintained control.

Do all Wills have to go through probate?

I read somewhere that the New York State Estate Tax Exemption was increasing again this year, could you explain this to me?