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New Year’s Resolutions: Estate Planning Edition
Different stages of life call for different goals. As 2025 ends, here are a few things to keep in mind depending on what season of life you are in.
When a person under the age of 18 is set to receive more than $10,000.00 as an inheritance under an estate, the New York Surrogate’s Court requires that a guardian be appointed to protect the minor’s property interest.
Minors cannot be left assets outright in New York. Minor beneficiaries must inherit in trust. If a minor inherits outright, a guardian must be appointed by the Surrogate's Court.
Guardianship in New York is typically sought in situations where an individual is unable to make decisions for themselves due to incapacity.
The process of appointing a legal guardian can take many months, so it is important to have a U.S.-based or a NY-based guardian to care for your kids.
If you are a parent of a young child, you have probably heard that you should have a will. But do you know why?
Whether it be through New York's Mental Hygiene Law Article 81 or SCPA Article 17-A, it is possible to provide for the needs of vulnerable adults.
