Keyword Search Result: executor

To probate or not to probate….

The Facts: I am named executor in my brother’s Will. He died recently and his assets include a bank account and a house. Someone told me that since I am the named executor, I can close the account and sell his house simply by presenting the Will. The Question: Is that true? The Answer: Absolutely […]

And the Cut Crystal Goes To…

Go to http://roelresources.com/and-the-cut-crystal-goes-to/ to see my recent article on ways to distribute your assets and avoid fighting.   Happy reading!   Linda M. Toga of The Law Offices of Linda M. Toga, P.C. is an East Setauket, New York attorney with a general law practice focusing on estate planning, real estate, marital planning, small business […]

Is it Time to Revise Your Will?

Recently I was reminded of how important it is to update your Will when circumstances change. A client came to see me about probating her husband’s Will. Unfortunately, her husband had signed the Will before he met my client and did not take the time to revise it.  Since he did not have any children […]

Calculating an Executor’s Commissions

There seems to be a great deal of confusion about the commissions that may be paid to the executor of an estate. Clients frequently ask me if they should specify in their Will the total commission that should be paid  to the executor or if it is better to have the commissions determined by the […]

What is the Role of the Executor in Settling an Estate?

The Facts: Some people who have been named as executors told me their jobs were quite simple while others complained about all the time and effort it takes to administer an estate. The Question: What are the responsibilities of an executor and why does the complexity of the process vary so much? The Answer: The […]

Will or Beneficiary Form: Which Controls?

The Facts: I was told that the money in the joint account I have with my son and the money in my IRA will not be distributed according to my Will when I die. The Question: Is that correct? The Answer: Yes, that is correct. Many people mistakenly believe that, following their death, the provisions in their Will […]

Who is Required to Get Notice of the Probate of My Will?

The Facts: My father died 2 years ago. My mother is receiving hospice care. In her Will my mother leaves her estate to me and my sister. Her Will provides that my estranged brother who has not been seen or heard from by anyone in the family for over a decade is not to receive anything. […]

What is Probate?

As an attorney that focuses on estate planning, I am frequently asked what “probate” means. Technically, probate is the court procedure by which a decedent’s Will is either proved to be valid or found to be invalid and unenforceable. However, many people use the word probate in a more general sense to mean the process […]

What Constitutes Imprudent Management?

It is well-settled that executors and other fiduciaries such as attorneys-in-fact are required to handle the assets under their control in a reasonable and prudent fashion. When a fiduciary crosses the line either by failing to act, or by engaging in imprudent management of assets, he risks being relieved of his authority to act and […]