There is a lot of misinformation about what happens if you don’t have a will when you die. Contrary to popular belief, your property rarely passes to the state if you die without a will. Instead, it is distributed to your legal heirs according to the state’s intestacy laws. Heirs include relatives by blood or by marriage. Although intestacy...
Continue ReadingWhen a person dies, their assets must be distributed. The distribution process varies based on whether the person had a valid will and the size of their estate. If the person who died, legally known as the decedent, had a will, an executor is responsible for administering the estate. If the decedent died without a will or their estate...
Continue ReadingMany fiduciaries have a significant amount of power and control over their clients’ financial lives. When a fiduciary breaches their duties, it can have severe economic and personal consequences for the victims. If you are the victim of a breach of fiduciary duties, you probably want to hold the perpetrator accountable and recover compensation for the damage they have...
Continue ReadingMost people need to trust professionals to handle certain financial and legal matters. When things go well, these relationships can be extremely beneficial to everyone involved. However, with this trust comes a level of vulnerability. When the trust is violated, it can have severe ramifications for the victim. Some professionals have so much power over their clients’ financial matters...
Continue ReadingWhen a loved one dies intestate (without a will), the procedures surrounding the distribution of their estate can be opaque and confusing. In New York, intestate succession laws govern how the estate must be distributed, and the Surrogate Court’s procedural laws dictate who may serve as administrator of a decedent’s estate. These laws are relatively rigid and can leave...
Continue ReadingNew York Law imposes a heightened standard of care on people who occupy specific positions of trust and responsibility. These legal requirements are known as fiduciary duties. Fiduciary duties are legally enforceable and help hold professionals to a high standard. Due to the harm violating a professional relationship can cause, victims can file suit if someone breaches a fiduciary...
Continue ReadingPlanning for the worst is challenging. Most of us would rather put off having conversations about what to do if we are incapacitated or how we wish to be cared for at the end of our lives. Preparing for these scenarios is so difficult one study estimates only one in three Americans ever completes an advance directive. But formulating...
Continue ReadingElder law lawyers provide a range of valuable services that older individuals tend to need. Scheduling a meeting with an attorney can be the first step towards setting yourself and your family up for a successful future. When arranging an appointment, you may wonder, What questions should I ask an elder law attorney? Preparing the right questions can help...
Continue ReadingPreserving our assets for future generations can be a difficult task. There is a large array of estate planning tools at our disposal, and choosing the right ones for your needs requires careful thought and consideration. This dynamic is particularly true if we wish to protect our assets from the rising threat of nursing home costs, Medicaid costs, and...
Continue ReadingAt the Law Office of Andrew M. Lamkin, P.C., we understand how damaging a breach of trust can be. In the contexts of estate planning, estate administration, and residential real estate, professional relationships are often built on a foundation of trust and accountability. Thankfully, the law imposes specific standards on many professionals who work in these industries. These standards,...
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