What Is a No-Contest Clause in a Will?

What Is a No-Contest Clause in a Will?

Gabriel Katzner - June 12, 2024 - Wills

If you are concerned that any of your beneficiaries may be disgruntled enough with their inheritance that they bring a legal challenge against your will, you can mitigate that possibility by adding a no-contest clause in your will. If you have a no-contest clause in your last will and testament, anyone who disputes the validity […]

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What Is a Quitclaim Deed?

What Is a Quitclaim Deed?

Gabriel Katzner - June 6, 2024 - Real Estate

A quitclaim deed is a legal document used to transfer interest in a property from the grantor to the grantee. It does not guarantee that the grantor has a legal interest or right to the property. A quitclaim deed is a way to transfer property ownership quickly and easily, but it has limitations. Ian and […]

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Guide to Inheriting a House with Siblings

Guide to Inheriting a House with Siblings

Gabriel Katzner - May 31, 2024 - Real Estate

Inheritance can be complicated, especially if multiple people inherit the same asset and a legal will does not contain explicit instructions for how the property should be managed or divided. Mike has three daughters; one is married and has two children. His other two daughters still live in the family home. Imagine the disagreements that […]

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What is a Trust Fund and How Does it Work?

What is a Trust Fund and How Does it Work?

Gabriel Katzner - May 22, 2024 - Estate Planning

A trust fund is an estate planning tool used to hold assets or property for a beneficiary or beneficiaries. A grantor establishes a trust, and a trustee is in charge of its administration. Trust documents describe the assets in the trust, including bank accounts, property, stocks, businesses, heirlooms, and money, and the conditions under which […]

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The Difference between Guardianship and Power of Attorney

The Difference between Guardianship and Power of Attorney

Gabriel Katzner - May 16, 2024 - Guardianship

Whether you have an adult child with a disability or a parent who is at risk of becoming incapacitated, it may be time to consider who will manage their affairs and make decisions for them if they cannot make decisions independently. Depending on how much help your loved one needs, a guardianship, conservatorship, or a […]

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A Family LLC: Protect Your Family’s Financial Success

Gabriel Katzner - May 7, 2024 - Asset Protection

A family limited liability company, or family LLC, is a type of business entity that provides asset protection and tax benefits for its owners. It can also be used to manage and preserve family properties to allow for intergenerational ownership and management. A family LLC is subject to the same Internal Revenue Service (IRS) rules […]

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Letters of Administration: Dying Without a Will

Letters of Administration: Dying Without a Will

Gabriel Katzner - May 2, 2024 - Wills

The probate court issues letters of testamentary approving an executor of a will to manage the decedent’s estate. But what happens if someone dies without a will, also known as dying intestate? The surrogate or probate court uses letters of administration to authorize a person known as the administrator to manage the decedent’s estate. A […]

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Should I Put My House in a Trust in New York?

Should I Put My House in a Trust in New York?

Gabriel Katzner - April 26, 2024 - Real Estate

Putting a house in a trust offers several advantages. As one of the most valuable assets in your estate, it is essential to know about any potential tax and creditor protections you are eligible to receive if you put your house in a trust. If you own a home in New York, it is important […]

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WHAT IS A CHILD ENTITLED TO WHEN THEIR PARENT DIES WITHOUT A WILL?

What Is a Child Entitled to When Their Parent Dies Without a Will?

Gabriel Katzner - April 19, 2024 - Probate

The death of a parent is an emotionally devastating and stressful time. Financial strains and uncertainties only compound this stress. Imagine two potential scenarios. Meghan is the only child of her wealthy parents. At age 40, the death of one of her 60-year-old parents was not even on her radar. Her father recently died suddenly […]

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WHAT'S THE DIFFERENCE BETWEEN ADMINISTRATOR AND EXECUTOR?

What’s the Difference Between Administrator and Executor?

Gabriel Katzner - April 18, 2024 - Probate

An executor is a person named in the last will and testament of a deceased person or testator to manage their estate after they die. If there is no will, then the court will need to appoint someone to manage or administer the estate. This person, the administrator, will oversee the estate when there is […]

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