inheritance

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What is a Waiver of Estate Rights?

In New York, your spouse has something called a right of election. What this means is that no matter what you want to leave them in your will, they have a right to $50,000 plus one third of your estate. So for instance if you die with a will leaving your spouse out because perhaps [...]

By | 2018-10-15T15:54:45+00:00 June 15th, 2017|Divorce Law, Estate Planning|Comments Off on What is a Waiver of Estate Rights?

“Every Little Thing Gonna Be Alright”…Or Is It?

Bob Marley, the singer famous for the song Three Little Birds, whose chorus was: “Don’t worry about a thing ‘Cause every little thing gonna be alright” passed away on May 11th,1981, without a will, with a fortune, and with at least eleven children from several different mothers, one of whom was his wife. The court [...]

By | 2018-10-15T15:57:10+00:00 May 11th, 2017|Estate Planning|Comments Off on “Every Little Thing Gonna Be Alright”…Or Is It?

What is an In Terrorem or “No Contest” Clause?

My late mother used to say no one owes you an inheritance, but what did she mean? Wouldn’t most people expect to inherit from their parent? The answer is that a will reflects the testator’s wishes, not their heirs’ expectations. Most of the time, people want to leave their assets to their family, their spouse, [...]

By | 2018-10-15T15:58:29+00:00 March 23rd, 2017|Estate Planning|Comments Off on What is an In Terrorem or “No Contest” Clause?