Fiduciary income tax is a critical aspect of managing estates and trusts, yet it remains a complex subject for many people. In this article, we’ll shed light on key concepts and responsibilities associated with fiduciary income tax, helping you better…
The New York Surrogate’s Court Procedure Act (SCPA) is a set of rules and guidelines that govern the administration of estates and trusts in the state of New York. One of the key sections of this act is SCPA 2103,…
The in terrorem clause, also known as a “no-contest” or “forfeiture” clause, is a provision commonly included in wills and trusts to deter beneficiaries from challenging the validity of the legal instrument. In New York, this clause is recognized and…
In recent years, advancements in assisted reproductive technology (ART) have made it possible for individuals to conceive children long after the death of an intended parent. As a result, courts and legislatures have been grappling with the legal and ethical…
Estate planning is a crucial process for every couple, regardless of their sexual orientation. However, for same-sex couples, there are unique considerations that must be addressed to ensure that their wishes are respected and their loved ones are protected. This…
When it comes to estate planning, one of the most important decisions you will make is selecting an executor or trustee. These individuals will be responsible for administering your estate or trust, ensuring your assets are distributed according to your…
The New York Estate, Powers and Trusts Law (EPTL) is a comprehensive body of legislation that governs the creation, administration, and termination of trusts and estates in the state of New York. One of the key sections within the EPTL…
Fiduciary Accountability In New York, a fiduciary is an individual or organization entrusted with the responsibility of managing the property and assets of another party. Fiduciaries include executors, administrators, and trustees. They have a legal obligation to act in the…