When a sibling, step-parent or other caregiver takes control of an aging parent's finances and healthcare, it can lead to disputes within the family. An attorney specializing in trust and estates litigation can provide guidance and legal assistance in such situations. They can facilitate mediation to resolve issues amicably, initiate guardianship proceedings if necessary, help in granting Power of Attorney to another sibling, and even start trust or elder law litigation if there's a need. The ultimate goal is to protect the rights and interests of the parents, ensuring their wellbeing and safety.
In New York, trust beneficiaries have a right to receive information about the trust and its finances. Trustees are legally obligated to provide transparency and ensure that beneficiaries receive their due distributions. Unfortunately, some trustees refuse to fulfill these obligations, leaving beneficiaries in the dark about their entitlements. This article will discuss the options available to trust beneficiaries under the New York Surrogate's Court Procedure Act (SCPA) and the Estates, Powers, and Trusts Law (EPTL) when faced with uncooperative trustees.
In a case involving a small estate with assets that are easy to liquidate and beneficiaries that get along, probate can be an inconvenient process but relatively painless. When an estate plan is more complex, assets that are harder to liquidate and the beneficiaries are at each other's throats, probate can the legal and financial equivalent to root canal without anesthetic—only worse, since it can go on for years. If you're asking yourself, why is probate so painful? Well, let me provide a general overview of the process and you can decide for yourself if it's something you want your loved ones to go through after you leave this Earth. If you want to avoid probate, there many strategy that can be used to eliminate probate entirely or, at least, minimize the pain associated with probate.