What Is SCPA 2307 and How Are Executor Commissions Set in New York?
Understanding How New York Pays the Person Who Settles an Estate Key Takeaways: SCPA 2307 sets default executor commissions when a will doesn’t specify compensation, governing executors and administrators rather than trustees (covered under SCPA 2308 and 2309). Commissions follow a tiered schedule: 5% on the first $100,000, 4% on the next $200,000, 3% on […]
Is a Power of Attorney Valid in New York Without Two Witnesses?
Understanding New York’s Two-Witness Rule for Powers of Attorney Key Takeaways: In New York, a power of attorney executed on or after June 13, 2021 requires two disinterested witnesses plus notarization to be valid. Under GOB §5-1501B(1)(b), the principal’s signature must be acknowledged before a notary and witnessed by two people who are not named […]
Who Can Serve as an Agent Under a New York Power of Attorney?
Understanding the Role of an Agent Under a New York POA Key Takeaways: Almost any competent adult you trust can serve as your agent under a New York power of attorney, as the statute does not require a special license or family relationship. Any agent may make limited gifts of up to $5,000 total per […]
How to File for Probate in Brooklyn, New York
Understanding Probate at the Kings County Surrogate’s Court Key Takeaways: Filing for probate in Brooklyn means opening a legal proceeding at the Kings County Surrogate’s Court to validate a will and authorize an executor to manage the estate. The process begins by preparing and submitting a probate petition with supporting documents including the verification, oath, […]
What Is a Durable Power of Attorney in New York?
Understanding the Durable Power of Attorney Under New York Law Key Takeaways: A durable power of attorney in New York lets you name a trusted agent to manage your legal and financial affairs, remaining effective even after you lose capacity. This durability allows uninterrupted bill payment and property management, helping families avoid slow, public guardianship […]
What Is the Role of an Executor in Brooklyn Probate?
Understanding the Executor’s Role in Brooklyn Probate When a loved one passes away and leaves a will, someone must step forward to manage the estate and carry out the decedent’s final wishes. In New York, that person is the executor, the individual named in the will to administer the estate. If you have been named […]
What Is Probate and How Does It Work in Brooklyn?
Understanding Probate in Brooklyn: A Complete Guide for Families When a loved one passes away in Brooklyn, their estate generally must go through a legal process before assets can transfer to the rightful heirs. This process, known as probate, involves proving in Surrogate’s Court that a will is valid or, if no will exists, appointing […]
Writing a Will That Can Stand Up to Probate Challenges
Creating a last will and testament is an important step in ensuring your wishes are carried out after you’re gone. However, a will is not immune to challenges by interested parties, namely those who might stand to benefit if the will is voided. By taking certain proactive steps, you can significantly improve the chances of […]
Common Estate Planning Mistakes and How to Avoid Them
Estate planning means providing for your well-being later in life and directing the distribution of your wealth after your death. Having a plan in place takes the pressure off you and your family when it comes to making financial and long-term-care decisions. It also makes it simpler for your family to deal with management of […]
Can You Sue Over a Dog Bite Injury in New York? It Depends.
You might assume that if you are ever bitten by a dog, you will be able to file a claim against its owner to recover damages. But in New York, your ability to receive compensation and the type of compensation you receive depend on the circumstances — including the dog’s possible vicious tendencies and the […]