Estate Administration Frequently Asked Questions

Speaking with an estate administration lawyer is your best opportunity to have all your questions answered. However, here are a few common questions that can help you decide if you need legal assistance.

Is a handwritten will valid in New York?

A handwritten will can be valid in New York, but only in very specific circumstances. If you’re a mariner or servicemember, it’s possible that the courts will view such a holographic will as valid. However, this is not guaranteed. It’s best to speak with an attorney and know for sure.

Is Medicaid planning legal?

Absolutely! While transferring assets to become eligible for government benefits may sound “shady,” the fact is that it’s completely legal if you do so in the right way. Some professionals have built entire careers on providing such services.

What’s the difference between a conservatorship and a power of attorney?

A guardianship (i.e., conservatorship) and a power of attorney share similarities. In both cases, a third party is granted the authority to make decisions on behalf of another person. However, a judge assigns a conservator — whereas a person can choose their own power of attorney.

What is a Medicaid look-back period?

When applying for Medicaid benefits, the government will look back at asset transfers you’ve made over the previous five years. Those transfers could incur penalties. This is why it’s so important to start Medicaid planning early and to work with an estate administration lawyer.

What if I’m denied Medicaid?

The great thing about Medicaid is that your eligibility can change. If you didn’t engage in proper Medicaid planning, it’s possible that you could be denied. Fortunately, this isn’t a permanent situation. With the help of an experienced NY estate attorney, you may be able to become eligible at a later date.

What’s the difference between an executor and an administrator?

An executor is an individual designated in a will to administer properties, pay debts, and distribute inheritances. An administrator acts in a similar role, but they’re appointed by a judge. This is typically necessary for instances where someone died without a will or when the court deems their will invalid.

Is it possible to avoid probate?

While many estates have to go through probate, this isn’t always the case. In addition to the possibility of filing a small estate proceeding, it’s also possible to keep certain assets out of probate. These include jointly-owned assets, bank accounts with designated beneficiaries, and more.

Can I avoid estate taxes?

Through proper estate planning, it’s very possible to reduce or eliminate estate taxes. It all comes down to the strategies you utilize during planning. Discuss this today with our estate administration lawyers to learn your best options for saving money on taxes.

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