Apr 13, 2022 · Surrogate's Court 851 Grand Concourse Bronx, NY 10451 (718) 590-3625 : Kings County: (Brooklyn) Chief Clerk Surrogate's Court 2 Johnson Street Brooklyn, NY 11201 (718) 643-4336: Nassau County: Chief Clerk Surrogate's Court Supreme Court Building Mineola, NY 11501 (516) 571-2082 : New York County: (Manhattan) Chief Clerk Surrogate's Court 31 Chambers …
An executor has the power to initiate the filing of a probate proceeding with the Surrogate’s Court by filing the original will and death certificate with the court. He has the power to obtain and file any other necessary documentation that the court may require. An executor has the power to enter into contractual and legal relationships, to an extent.
Legal Assistance for lawyer referrals and answers to questions about the law and courts. The Department of Finance (DOF) requires a Power of Attorney (POA) if someone, such as a lawyer or accountant, is seeking information or filing something on behalf of a business or other entity. A POA is also required if you want to grant someone else the ...
Feb 27, 2013 · A New York Fiduciary such as an Executor or Administrator is appointed by the Surrogate's Court after a person has died. As discussed in many posts in the New York Probate Lawyer Blog, an ... Free Consultation: (212) 355-2575 Tap Here To Call Us
As we said in the beginning, planning for the future is not just about wills and trusts. Proper estate planning can solve many problems in the future. And, for this, it is ideal to have a power of attorney and an agent who can, eventually, execute it. But don’t worry, as we will explain in detail what to do and how.
As we said a few lines before, the agent is the person who will appoint the principal. The agent will make medical or other decisions, as well as carry out specific procedures or actions that will be stipulated in the power of attorney.
A power of attorney is a signed document in which a person, the principal, grants power of attorney to a designated agent for the purpose of performing an action or making certain decisions. You should know that a power of attorney is not the same as a guardianship.
As the saying goes, it is better to be safe than sorry. A properly drafted and executed power of attorney can be the solution to many current and future problems. First of all, it can give you peace of mind as to what will happen to your property and assets if something happens to you or you become incapacitated.
An executor has the power to initiate the filing of a probate proceeding with the Surrogate’s Court by filing the original will and death certificate with the court. He has the power to obtain and file any other necessary documentation that the court may require.
Fiduciary Duty of an Executor as a Limit on Their Power. Because an executor has so much power and discretion over the affairs of the estate, an executor is held a higher standard of behavior and is expected to act in an honest, fair and ethical manner.
Manage the estate assets including bank accounts, stock, bonds, retirement accounts, pensions. Take inventory of assets, including personal and real property. Pay creditors and other claims including funeral expenses and any estate taxes that may be due out of estate assets.
An executor can be removed by the beneficiaries for breach of fiduciary duty and could be subject to restitution of any financial losses to the estate and beneficiaries, and even face criminal charges if the executor committed any crimes such as embezzlement of estate assets.
Legal Assistance for lawyer referrals and answers to questions about the law and courts. The Department of Finance (DOF) requires a Power of Attorney (POA) if someone, such as a lawyer or accountant, is seeking information or filing something on behalf of a business or other entity. A POA is also required if you want to grant someone else ...
A POA is also required if you want to grant someone else the authorization to request copies of filed business tax returns or discuss a case with DOF. For Business and Excise Taxes, taxpayers may complete a POA-1 Form. For all other DOF matters, for example, a property tax payment agreement or a parking matter, a POA-2 Form should be completed.
A power of attorney is a legally binding document that grants one person, called an agent, the authority to act on behalf of another person, called the principal. The agent holds the power of attorney for the principal. By default, a power of attorney grants the agent broad power to take almost any action that the principal can take.
When a person dies with a will, someone must carry out the directions in the will after their death. For example, if a will leaves a certain amount of money to a survivor, someone needs to transfer the funds from the deceased's account to the survivor's account. That person is called the executor of the will.
Once you figure out the type of attorney you need, you then need to go about hiring an estate attorney. Here are a few tips to hire an estate attorney: 1 You don’t have to hire the first estate attorney you talk to. Personality matters. As an executor, you will have to work with the estate attorney, so make sure the estate attorney you hire is someone you trust and respect. 2 Ask about the fees. How will the estate attorney be compensated for her work? Will she charge you by the hour or is there a flat fee based on the will and size of the estate? 3 Ask about the process. Will you work with the person you are talking to or a team of people? If it will be a team, make sure you meet those people as well. Paralegals can play a significant role in this process – so meet them if they will be involved.
Because wills and estates vary in complexity, and assets within the estate can add another layer that must be understood and managed properly, it’s always a good idea to have an estate attorney at your side to help manage your executor duties.