New York Wills - Structure, Design and Settlement: 2023 Edition

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CURRENT EDITION 2023 Edition
VOLUMES 1
AUTHOR Jean Hegler, Esq.
ESTIMATED NEXT EDITION DATE August 25, 2024
LAST RELEASE DATE August 25, 2023
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New York Wills - Structure, Design and Settlement: 2023 Edition

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From expert advice on preparing sound wills and priceless tips for handling important tax issues to step-by-step instructions for settling estates, this guide will guarantee top professional performance. Also includes a generous collection of helpful sample forms and other visual aids. These forms are now available digitally in a fillable PDF format.

 

Detailed instruction on executing the diverse, often complex, responsibilities of an
estate law practitioner. From expert advice on preparing sound wills and priceless
tips for handling important tax issues to step-by-step instructions for settling
estates, this guide will guarantee top professional performance. Includes a generous
collection of helpful sample forms and other visual aids. These forms are now
available digitally in a fillable PDF format.

 

Table of Contents
About the Authors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . i
Chapter 1 – Surrogate’s Court: Jurisdiction and Procedure. . . . . . . 1
§1.01 The Surrogate’s Court . . . . . . . . . . . . . . . . . . . . . . 1
§1.02 Jurisdiction of the Surrogate’s Court . . . . . . . . . . . 1
§1.03 Surrogate’s Court Procedure . . . . . . . . . . . . . . . . 10
§1.04 Pleadings in Surrogate’s Court Practice. . . . . . . . 10
Chapter 2 – Why You Need A Will . . . . . . . . . . . . . . . . . . . . . . . . 19
§2.01 The Will . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
§2.02 Validity of the Will . . . . . . . . . . . . . . . . . . . . . . . 19
§2.03 Why an Individual Executes a Will . . . . . . . . . . . 26
Chapter 3 – Preparation of Wills . . . . . . . . . . . . . . . . . . . . . . . . . . 33
§3.01 Considerations for Preparing to Draft the Will . . 33
§3.02 Overview of Tax Considerations . . . . . . . . . . . . . 37
§3.03 The Estate Plan. . . . . . . . . . . . . . . . . . . . . . . . . . . 42
§3.04 Will Provisions. . . . . . . . . . . . . . . . . . . . . . . . . . . 43
§3.05 Illustration of the Preparation of Wills . . . . . . . . 72
Chapter 4 – Preparation for the Settlement of an Estate . . . . . . . . 97
§4.01 Funeral Arrangements . . . . . . . . . . . . . . . . . . . . . 97
§4.02 Initial Contact with the Potential Fiduciary . . . . 99
§4.03 Initial Meeting with the Potential Fiduciary . . . 101
§4.04 Estate of John Doe, Sr.. . . . . . . . . . . . . . . . . . . . 110
§4.05 Forms (Also provided in Digital Format) . . . . . 114
Chapter 5 – Probate Proceedings . . . . . . . . . . . . . . . . . . . . . . . . . 129
§5.01 Probate Proceedings Generally . . . . . . . . . . . . . 129
§5.02 Preliminary Letters Testamentary . . . . . . . . . . . 141
§5.03 Estate of John Doe, Sr.. . . . . . . . . . . . . . . . . . . . 141
§5.04 Forms (Also provided in Digital Format) . . . . . 141
Chapter 6 – Administration Proceedings and
Intestate Succession Rules. . . . . . . . . . . . . . . . . . . . . . . . . . . 181
§6.01 Administration Proceedings . . . . . . . . . . . . . . . . 181
§6.02 Intestate Succession Scheme . . . . . . . . . . . . . . . 192
§6.03 Genetic Children . . . . . . . . . . . . . . . . . . . . . . . . 194
§6.04 Forms (Also provided in Digital Format) . . . . . 195
Chapter 7 – Small Estate Settlement . . . . . . . . . . . . . . . . . . . . . . 221
§7.01 Applicability of the Small Estate Proceeding . . 221
§7.02 Commencement of the Small Estate Proceeding 221
§7.03 The Small Estate Settlement Procedure . . . . . . . 224
§7.04 Alternatives to Voluntary Administration . . . . . 226
§7.05 Forms (Also provided in Digital Format). . . . . . 227
Chapter 8 – Federal Estate Tax Planning . . . . . . . . . . . . . . . . . . . 247
§8.01 Overview of the Federal Transfer Tax System. . 248
§8.02 Calculation of the Federal Estate Tax. . . . . . . . . 252
§8.03 Filing the Federal Estate Tax Return . . . . . . . . . 260
§8.04 Forms in Digital Format . . . . . . . . . . . . . . . . . . . 264
Chapter 9 – New York Estate Tax Proceedings . . . . . . . . . . . . . . 271
§9.01 Overview of New York State Estate Taxation . . 271
§9.02 Computation of the New York Estate Tax . . . . . 275
§9.03 Payment of New York Estate Tax . . . . . . . . . . . 280
§9.04 Other New York Estate Tax Procedures. . . . . . . 283
§9.05 Estate Inventory . . . . . . . . . . . . . . . . . . . . . . . . . 284
§9.06 New York Gift Tax. . . . . . . . . . . . . . . . . . . . . . . 284
§9.07 The New York Estate Tax Proceeding for
John Doe, Sr.. . . . . . . . . . . . . . . . . . . . . . . . . . . . 285
§9.08 Forms in Digital Format . . . . . . . . . . . . . . . . . . . 289
Chapter 10 – Accountings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 295
§10.01 Introduction to Accountings . . . . . . . . . . . . . . . . 295
§10.02 The Account . . . . . . . . . . . . . . . . . . . . . . . . . . . . 297
§10.03 Form in Digital Format . . . . . . . . . . . . . . . . . . . . 297
Chapter 11 – Other Estate Planning Documents . . . . . . . . . . . . . 299
§11.01 Power of Attorney. . . . . . . . . . . . . . . . . . . . . . . . 299
§11.02 Nomination of Guardian . . . . . . . . . . . . . . . . . . . 300
§11.03 Health Care Proxies . . . . . . . . . . . . . . . . . . . . . . 300
§11.04 Designation of Surrogate for Do Not
Resuscitate Decision. . . . . . . . . . . . . . . . . . . . . . 301
§11.05 Living Wills . . . . . . . . . . . . . . . . . . . . . . . . . . . . 301
§11.06 Anatomical Gifts. . . . . . . . . . . . . . . . . . . . . . . . . 302
§11.07 Appointment of Agent to Control Disposition
of Remains . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 303
§11.08 Forms in Digital Format . . . . . . . . . . . . . . . . . . . 304
Chapter 12 – Glossary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 307
Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 327

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