Evans, NY Estate Planning Law Firms & Lawyers

Hello. My name is Damien. I am a Trusts & Estates attorney in New York City practicing in the New York City metropolitan area. Generally, in order to sell the property when there is a life estate, all of the life tenants and remaindermen have to agree to the sale. Yet, a remainderman could sell, assign or transfer his or her interest in the property, but the buyer would have to take the property subject to the rights of the life tenants and other remaindermen. In other words, in effect, if all the life tenants and some remaindermen agree to sell their share of the property, the remaindermen who did not sell their share would remain as property owners holding the property as tenants in common with the new buyer or buyers. So, it is possible to argue that a contract among the other parties to sell their share of the property remains valid while the remainderman who did not agree to sell her or his property interest would keep her or his property interest and become a tenant in common with the other buyer or buyers. If you need any assistance, a New York Trusts & Estates Attorney could help you. If you wish to speak on the phone about it, you can call Damien Bosco, P.C. at (646) 452-7082 or email me at DamienBoscoEsq@gmail.com

Hi there, The estate will be distributed according to the Will, but your step-mother can file a right of election, which means she will be entitled to $50K or 1/3 of the net estate, whichever is greater.  Alice Choi, Esq. (achoi@novicklawgroup.com)  

Creditors can and often do pursue the assets of the decedent in order to collect their debts. A will does not automatically need to be probated. Everything depends on the assets and debts of the person who passed away. Probate is often best accomplished with the assistance of a lawyer, to make sure all steps are followed, all debts are properly handled, and all assets of the estate are properly distributed.