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Can the executor give away property? In most cases, no, especially if the property has any value. Estate property does not belong to the executor – he is just managing it. By giving it away, he’s taking it away from the beneficiaries of the estate. What do we call it when a manager steals money […] The post Can an Executor Give Away Property appeared first on New York City Estate Lawyer Albert Goodwin, Esq.
Can the executor spend the money any way he wants? In most cases, no. Estate money does not belong to the executor – he is just managing it. By giving it away, he’s taking it away from the beneficiaries of the estate. What do we call it when a manager steals money he is managing? […] The post Can The Executor of a Will Spend the Estate’s Money Any Way He Wants? appeared first on…
When an executor is not contacting beneficiaries, the beneficiaries may lose their patience and bring a proceeding to compel the executor to file a judicial accounting. A good executor will avoid this costly step. Accordingly, this is the kind of information that the executor should provide to the beneficiaries: What is the executor planning to […] The post Executor Not Contacting Beneficiaries appeared first on New York City Estate Lawyer Albert Goodwin, Esq..…
A Medicaid Qualifying Trust in NY allows you to qualify for Medicaid. You can have the government pay for medical care, home health aides, and nursing home. A Medicaid Qualifying Trust is a valuable tool that helps protect your assets, allowing you to leave your estate to your family. What is a Medicaid Qualifying Trust […] The post Medicaid Qualifying Trust – How Does it Work appeared first on New York City Estate Lawyer Albert
For those wondering “can one heir sell property of an estate,” the short answer is Yes, if they are the executor, unless there are restrictions in his Letters Testamentary which require court approval before selling the property or there is a restriction that limits the administration of the estate to a certain amount. The sale […] The post Can One Heir Sell Property appeared first on New York City Estate Lawyer Albert Goodwin, Esq..…
A beneficiary of a New York, NY estate can refuse their inheritance and renounce all of a portion of their inheritance left to them after their loved one has passed away. However, it is possible that being left an inheritance will disqualify a person from being eligible for government assistance such as Medicaid, even if […] The post How Can Someone Refuse an Inheritance appeared first on New York City Estate Lawyer Albert Goodwin, Esq.
When deciding whether a trustee can sell the house belonging to the trust, look at the trust document first. If the trust document allows the trustee to sell the house, then the trustee is allowed to do so. But carefully look at the trust language for what the trustee is allowed to do with the […] The post Can A Trustee Sell A House? appeared first on New York City Estate Lawyer Albert Goodwin, Esq.