Two individuals and a trust company submitted a counter-application regarding the preliminary letters sent to them for the last will and testament of the decedent. In the will submitted by to the court for probate, one individual and the trust company were named as executors. In their petition, the petitioner’s…
Nobody enjoys paying taxes, but they are something that everyone will have to pay. There are plenty of different taxes, and all of them are disliked by everyone. It is the role of the financial officer to try and determine how these taxes will affect the budget of the state.…
Just a year ago the Connecticut probate courts were near being bankrupt. However, after the courts have been restructured the system is much more effective explains a New York Estate Planning Lawyer. The states probate system has its roots in the colonial era, but after the number of courts being…
At the end of 2010 congress revamped the estate tax and generation skipping tax legislation. This saw all of the different types of death related taxes being filed with the highest rate of 35%. At the moment the exemption rates are very generous and this is thought to continue throughout…
A California court has decided belief in a marriage can, in fact, make it legal when a man marries another woman before his divorce is final. A state appeals court reinstated the lawsuit of a woman over the death of a man she may or may not have been married…
The niece of a deceased ice cream chain owner has ended up in bankruptcy court, indicated a firm of New York Estate Planning Lawyers. It is her assertion that she is the rightful heir and administrator of the ice cream fortune – not the foundation to which the money has…
Many people tend to overlook the likelihood of being hit with an estate tax because they aren’t considered “rich.” But according to NY Estate Lawyers many upper middle-class citizens could be hit with a tax rate as high as 35%. Currently the law indicates an exemption for estate tax of…
In 2010 when a person died, there would have been no estate tax owed, according to a New York Probate Lawyer. He added that in 2010 the estate tax had been repealed. In 2011, estate taxes will be reinstated but a high amount of $5 million will be set. In…
During one of the state of Illinois’ largest ever tax increases; the new public act appears to contain a nice loophole for the wealthy deceased, said a New York Estate Planning lawyer. Earlier this year the Governor of Illinois signed into law the Public Act 096-1496, the Taxpayer Accountability and…
In spite of the stone-throwing and partisan pandering of last December’s revamp of US tax law, a New York Estate Planning Lawyer claims that there are a few hidden gems for families willing to dig through the rubble. In particular, the New York Probate Lawyer singled out the new gift…