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85 legal questions have been posted about trusts and estates by real users in New York. Ask your question and dive into the knowledge of attorneys who handle your issue regularly. Similar topics to explore also include powers of attorney, charitable giving, and asset protection. All topics and other states can be accessed in the dropdowns below.
New York Trusts Questions & Legal Answers - Page 3
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Trusts and Estates
New York

Recent Legal Answers

Can my sister husband that is an attorney in Kansas. Advise and draw papers up for my mom?

Answered 9 years and 2 months ago by attorney Lori Nevias   |   1 Answer   |  Legal Topics: Trusts
If a person signs a document agreeing to give up a right or interest, without understanding it due to age or illness, and under the pressure or undue influence of another person, that document can likely be rescinded, if you can prove unude influence. It sounds like that's what happened to your father. I need more information regarding your mother. ... Read More
If a person signs a document agreeing to give up a right or interest, without understanding it due to age or illness, and under the pressure or undue... Read More

I'm trying to find an email address for James V Carmardella.

Answered 9 years and 2 months ago by attorney Sharon M. Siegel   |   1 Answer   |  Legal Topics: Trusts
I do not understand the relationship of you to this guy Camardella and the trust.  If you are supposed to get something you must compel a distribution in court.  If the trust is a NY court, then NY is the place.
I do not understand the relationship of you to this guy Camardella and the trust.  If you are supposed to get something you must compel a... Read More

My mom has passed and her insurance company wants my to provide a power of attorney form to update her account how can I do this

Answered 9 years and 3 months ago by attorney Sharon M. Siegel   |   1 Answer   |  Legal Topics: Trusts
Power of attorney forms lapse on the death of the principal.  They mean they need estate letters from the Surrogate.  Not a complex matter.
Power of attorney forms lapse on the death of the principal.  They mean they need estate letters from the Surrogate.  Not a complex matter.

What to do with my trust?

Answered 9 years and 3 months ago by attorney Sharon M. Siegel   |   2 Answers   |  Legal Topics: Trusts
Your issues are unrelated.  The trust has nothing to do with citizenship or birth certificates.  If you have the trust documents, a lawyer can tell you what to do.  As far as a birth certificate, the process to get it depends on where you were born.  While money can help a citizenship application, that is not needed if you were born in the USA.... Read More
Your issues are unrelated.  The trust has nothing to do with citizenship or birth certificates.  If you have the trust documents, a lawyer... Read More

How do I manage my trust?

Answered 9 years and 3 months ago by attorney Richard J. Shapiro   |   2 Answers   |  Legal Topics: Trusts
My first response is, who are the Trustees of the Trust?  Those persons (or entity if a corporate Trustee is designated) have sole legal authority to administer the Trust.
My first response is, who are the Trustees of the Trust?  Those persons (or entity if a corporate Trustee is designated) have sole legal... Read More

My husband and his brother were left property in a luving trust from their mother. She has passed on 10 years ago. What is best way to deal w/trust

Answered 9 years and 4 months ago by attorney Sharon M. Siegel   |   1 Answer   |  Legal Topics: Trusts
I do not understand why nothing has happened for 10 years.  When someone dies, a living trust becomes permanent, and is like a will except probate is not required for assets in the trust.  The trust document will govern who has the power to do what.  However, it is best to distribute the assets than leave them in trust.... Read More
I do not understand why nothing has happened for 10 years.  When someone dies, a living trust becomes permanent, and is like a will except... Read More

can a special needs trust be handled by a lawyer

Answered 9 years and 4 months ago by attorney Sharon M. Siegel   |   1 Answer   |  Legal Topics: Trusts
It should definitely be drafted by a lawyer.  Many times the lawyer is the trustee, but it is always better to involve people who care about the beneficiary on a personal level.
It should definitely be drafted by a lawyer.  Many times the lawyer is the trustee, but it is always better to involve people who care about the... Read More

Do I need a New York court to designate a Trustee for a New York Trust?

Answered 9 years and 5 months ago by attorney Sharon M. Siegel   |   1 Answer   |  Legal Topics: Trusts
This is actually a complicated legal issue, which will be governed in large part by the terms of the trust.  When you say "New York Trust", I am not sure what you mean.  Do you mean it was part of the New York will or just made by a New York resident way back when?  Also, whether it is a testamentary trust determines if it is Surrogate's Court in NY or Supreme Court.  There is a chance Hawaii could have jurisdiction.  To answer this question I would need to see the trust.... Read More
This is actually a complicated legal issue, which will be governed in large part by the terms of the trust.  When you say "New York Trust", I am... Read More

Re: Trusts.....I ' ve a small irrevocable trust for my son (an ins. policy pod ). W/my sister as trustee. What's the cost otherwise (no family member)

Answered 9 years and 6 months ago by attorney Sharon M. Siegel   |   1 Answer   |  Legal Topics: Trusts
Corporate trustees do not take small trusts.  Although there is a statutory commission rate which is based on gains in trust value, size of the trust, and distributions made, you are free to negotiate a different fee with an attorney or accountant.
Corporate trustees do not take small trusts.  Although there is a statutory commission rate which is based on gains in trust value, size of the... Read More

How do I revise an existing will with a different attorney?

Answered 9 years and 7 months ago by attorney Sharon M. Siegel   |   1 Answer   |  Legal Topics: Trusts
You will have to have it re-executed in a formal ceremony.  However, if I am simply re-doing the other will, and my secretary just needs to retype most of it, I do not charge the full price, but I still need to charge for the execution ceremony.  However, if there are errors or needed other revisions, then the price will change accordingly.... Read More
You will have to have it re-executed in a formal ceremony.  However, if I am simply re-doing the other will, and my secretary just needs to... Read More

How do I get a new Letter of testementary ?

Answered 9 years and 7 months ago by attorney Sharon M. Siegel   |   1 Answer   |  Legal Topics: Trusts
It depends how much is in the account.  Either way, skip the will and just do an administration.  If you are the only heir, no one can contest this.
It depends how much is in the account.  Either way, skip the will and just do an administration.  If you are the only heir, no one can... Read More

are bequests lsited in trust documents considered to be distributions to the trust/

Answered 9 years and 9 months ago by attorney Sharon M. Siegel   |   1 Answer   |  Legal Topics: Trusts
Your question makes no sense.  A distribution is money out.  A bequest is a term relating to a will.  A trust does not bequest, technically.  However, a trust is governed by the trust document, and if you are trustee, making an error could make you personally liable, so you should run things by a lawyer.... Read More
Your question makes no sense.  A distribution is money out.  A bequest is a term relating to a will.  A trust does not bequest,... Read More

Recently became co-owners of house with uncle, he refuses to pay his share of taxes, house insurance, house maintenance

Answered 9 years and 9 months ago by attorney Sharon M. Siegel   |   1 Answer   |  Legal Topics: Trusts
Your only option is a partition case to have the property sold.
Your only option is a partition case to have the property sold.

I am considering creating a Asset Trust and wanted to know if this is the best way to protect my assets from creditors, and still have access to them.

Answered 10 years and 2 months ago by attorney Richard J. Shapiro   |   1 Answer   |  Legal Topics: Trusts
A Domestic Asset Protection Trust can be a useful asset protection tool.  However, you should not be a Co-Trustee in such an arrangment, and you will always need at least one Trustee located in the jurisdiction where the trust is established.  In addition to the local trustee, you can have "friendly" Trustee (i.e., your CPA) that you best represent your interests.... Read More
A Domestic Asset Protection Trust can be a useful asset protection tool.  However, you should not be a Co-Trustee in such an arrangment, and you... Read More

Power of attorney

Answered 10 years and 8 months ago by attorney Richard J. Shapiro   |   1 Answer   |  Legal Topics: Trusts
You can't -- the executor or administrator for the estate has sole authority after the principal's death to handle the account.
You can't -- the executor or administrator for the estate has sole authority after the principal's death to handle the account.

Can real estate property already in an irrevocable trust be changed to name a new owner?

Answered 10 years and 9 months ago by attorney Richard J. Shapiro   |   1 Answer   |  Legal Topics: Trusts
It depends upon whether trust provides to your mother a lifetime and/or testamentary "power of appointment" to "appoint" the house to one or more beneficiaries other than the person(s) who would presently receive the home under the terms of the trust. A power of appointment, if included in the trust instrument, must be exercised as provided in the instrument, or as otherwise authorized under state law.... Read More
It depends upon whether trust provides to your mother a lifetime and/or testamentary "power of appointment" to "appoint" the house to one or more... Read More

how can i remove someone as a trustee to a trust

Answered 12 years and 3 months ago by Gerry M Wendrovsky (Unclaimed Profile)   |   1 Answer   |  Legal Topics: Trusts
May I suggest that you have a consultation with a qualified estate attorney, to determine the best path to undertake? Gerry Wendrovsky, Esq.- Upper West Side Estate Lawyer www.upperwestsidelawyer.com
May I suggest that you have a consultation with a qualified estate attorney, to determine the best path to undertake? Gerry Wendrovsky, Esq.- Upper... Read More

Can the house part of a trust fund be redirected?

Answered 12 years and 7 months ago by attorney William R. Pelger   |   1 Answer   |  Legal Topics: Trusts
higher a lawyer. this will motivate the other lawyer.
higher a lawyer. this will motivate the other lawyer.

I have a quadro n my husbands pension how can i get my share

Answered 12 years and 7 months ago by Gerry M Wendrovsky (Unclaimed Profile)   |   1 Answer   |  Legal Topics: Trusts
You would need to get a court order, through a post-judgment proceeding, brought in the Supreme Court. It is unfortunate that you have not sought to do so until this time. Ordinarily, you would have such right at the earliest time that the pension plan would be able to make payments to your ex-husband. You should consult with qualified counsel to start this action. Gerry Wendrovsky, Esq.- Upper West Side Lawyer www.upperwestsidelawyer.com... Read More
You would need to get a court order, through a post-judgment proceeding, brought in the Supreme Court. It is unfortunate that you have not sought to... Read More

In new York, as executor of my fathers estate, am I required to publish a notice of probate or death notice in a local newspaper to alert creditors?

Answered 12 years and 8 months ago by Gerry M Wendrovsky (Unclaimed Profile)   |   1 Answer   |  Legal Topics: Trusts
No, but there are notices known as citations that may be required, depending on the facts of the matter. There are provisions of the law that obligate you, as Executor, to ensure that the bills and claims are either paid or a determination made as to whether payment is required. Additionally, there is a time frame in which you must entertain such presentation of bills or claims, before you can distribute the estate, the failure to do so which can leave you personally liable for the bills. best to speak with a qualified estate attorney. Gerry Wendrovsky, Esq.- Upper West Side Estate Lawyer www.upperwestsidelawyer.com... Read More
No, but there are notices known as citations that may be required, depending on the facts of the matter. There are provisions of the law that... Read More

How do I terminate a revolkable living trust?

Answered 12 years and 9 months ago by attorney Richard J. Shapiro   |   1 Answer   |  Legal Topics: Trusts
Since the trust was created by your trust, you would need to file a Petition to terminate the trust with a court of appropriate jurisdiction.  The trust instrument would likely indicate in which jurisdiction you would need to file a petition (probably in New York).
Since the trust was created by your trust, you would need to file a Petition to terminate the trust with a court of appropriate jurisdiction. ... Read More

What is avg cost of an irrevocable trust to protect assets in NYS?

Answered 13 years and 2 months ago by attorney Richard J. Shapiro   |   1 Answer   |  Legal Topics: Trusts
It's no easier to answer that question than it is to answer the question, "how much does it cost to fix a car?"  A trust is just a tool of the lawyer's trade, and every case must be addressed on its own merits to determine what are the client's goals and objectives, as well as any complexities applicable to the particular case.  Lawyers are (or certainly should be) in the counseling business, not the document selling business.... Read More
It's no easier to answer that question than it is to answer the question, "how much does it cost to fix a car?"  A trust is just a tool of the... Read More

do i need to pay mothers debt if i cash in her 401k account after her death? how do i know if she has debt? do i pay a penatly for cash in?

Answered 13 years and 2 months ago by attorney Sharon M. Siegel   |   1 Answer   |  Legal Topics: Trusts
The answer is if you cash it in, you do need to pay taxes on it.  However, you can roll it over into your own IRA, and not pay taxes.  But, if the beneficiary is the estate, you are going to need to form one.  You should consider using a lawyer.  There may even be other assets to find.  It is cheaper if your brother and you cooperate.... Read More
The answer is if you cash it in, you do need to pay taxes on it.  However, you can roll it over into your own IRA, and not pay taxes.  But,... Read More

Which state do I hire a lawyer from? Will in Georgia probate, beneficiary in New York.

Answered 13 years and 5 months ago by attorney Sharon M. Siegel   |   1 Answer   |  Legal Topics: Trusts
Georgia
Georgia

I want to put my home in trust. The goal is to live in it while alive but avoid probate after death. Can I do this myself or would I need a lawyer?

Answered 13 years and 6 months ago by attorney Sharon M. Siegel   |   1 Answer   |  Legal Topics: Trusts
You need a lawyer.  For a primary residence, you need a Qualified Personal Residence Trust, which must be done exactly right, or else the IRS will not recognize the tax benefit.
You need a lawyer.  For a primary residence, you need a Qualified Personal Residence Trust, which must be done exactly right, or else the IRS... Read More
Trusts and Estates
New York

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