Probate & Estate Planning

When a will has a relative or a beneficiary as a witness, is the will valid? Kind of. The will is valid for everyone else, but the beneficiary-witness does not benefit from any increase in his or her share over what the beneficiary-witness would have gotten if not for the will. In other words, the […] The post Is a Will Invalid When a Relative or Beneficiary is a Witness? appeared first on New York
Can the trustee buy trust assets? Only for fair market value. Trust assets does not belong to the trustee – he is just managing it. What do we call it when a manager steals money he is managing? That’s right, it’s called embezzlement. Or more simply, stealing. Let’s say a trust contains a house that […] The post Can a Trustee Buy Trust Assets appeared first on New York City Estate Lawyer Albert Goodwin, Esq.
If you found this blog post you probably have a question about restitution payments in a probate. I am a California attorney so my blog can only give information about California probate law. If you are in any other state you might take my information and share with an attorney in that state to see what they think. I have dealt with restitution payments in California probates many times. There are two main ways: the…
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..…
Many decedents’ estates contain assets in the form of real estate.  A decedent may have owned a home or rental property or a commercial building containing a business.  Such items are typically the most valuable items among the decedents’ assets. If a decedent left a Last Will, such document may provide for the disposition of a specific parcel of real estate to a named person.  When the Will does not contain such a provision…