A King County Surrogate’s Court judge recently handed down a significant ruling in the case of a caretaker who appeared to marry her elderly patient in his final days in an effort to claim part of the deceased’s estate. The judge hearing the case decided the woman forfeited her statutory…
Rarely is there a more interesting circumstance presented an attorney of an estate law practice than a matter implicated with bioethics. Advances in Assisted Reproductive Technologies (“ARTs”) have created a range of reproduction options for infertile individuals. The result is that human conception or artificial insemination (“AI”) in vitro fertilization…
As our parents age, it may become necessary to take on a some type of guardianship role to help them live out their golden years in comfort and dignity. Even highly functioning seniors can use a little help in certain areas to ensure their best interests are served and avoid…
Fair market value of assets held by the estate is key for determining tax liability of an estate. In Estate of Eva Kollsman v. Commissioner of Internal Revenue, taxation of the sale of two 17th-century Old Master paintings was contested in federal tax court. The federal U.S. Tax Court agreed…
The Surrogate’s Court will probate the Last Will and Testament of a decedent, or a copy in some circumstances if those original documents are missing. In New York, the attorney representative of an estate can petition the court to commence probate proceedings with a duplicate of a will. Petition to…
While it might not be the most important things on peoples’ minds, the truth is that all of us need a last will and testament, regardless of whether or not we think our estates are large enough to need one. Without a last will and testament or some type of…
Will your credit card debt haunt you when you die? Outstanding debts can be attached to an estate or trust if a creditor files a lawsuit against a decedent in court. Protect your estate and your loved ones from creditor attachment by taking precautionary legal measures to restrict debt collectors…
Creating a trust is one of the most common ways people use to pass on the assets without having to pass the estate through probate and deal with courts, judges, and create a public record of what the individual has accrued over his or her lifetime. Just like there are…
Creditor attachment of an estate to satisfy outstanding debt may subsequently involve those assets in a bankruptcy. Depending if debts are attached to estate property that is involved in a Chapter 7 (personal) or Chapter 11 (business) related bankruptcy, the court will appoint a trustee to oversee and administer the…
The U.S. federal Securities and Exchange Commission (“SEC”) offers guidelines to Unit Investment Trusts (“UITs”). A fixed portfolio of securities with specific expiry, UITs are a trust vehicle for high wealth investors looking for estate portfolio diversification. The composition of UITs, generally a portfolio of bonds, stocks, and other securities,…