NYC Based Estate and Probate Lawyer
Mishiyeva Law, PLLC., is a law firm headquartered in NYC. We concentrate our practice on Estate and Probate matters. The founding lawyer, Kamilla Mishiyeva, Esq., represents various parties including executors, administrators, beneficiaries, & heirs.
Probate and Estate Administration
If a loved one has passed away with a will (testate), the process of settling their estate is called probate. If they passed away with no will (intestate), the processing of estate settlement would be called estate administration.
An executor would be appointed in the event that probate has to take place. If there is no will or the will is invalid, an administrator would be appointed. The role of both executors and administrators are similar in that they both ensure all debts are paid to creditors and the decedents property is transferred appropriately to the rightful heirs or beneficiaries. Our law firm is able to represent and assist appointed representatives to ensure proper documentation is filed with Surrogate’s Court and the nuanced legal and administrative duties are handled correctly. We have some helpful articles you can read to learn more about the probate process:
Will and Trust Preparation
A trust and will are both powerful estate planning tools. Each of which are useful depending on your personal and financial situation. A last will and testament is used to outline our final wishes. You give directives as to whom the executor of the estate should be, who should receive your property, and who should be appointed as the guardian of your dependents. It is recommend that one should always have a last will and testament drafted by an estate lawyer.
A trust is a more complicated estate planning instrument. It could be used to transfer property to heirs at the time of your death. A trust can also be utilized to help you save on estate tax. A trust is typically a separate entity from yourself. The funds in the trust are managed by a trustee. The trustee is also given specific directives as to what to do with the funds in the trust and when they are allowed to touch the funds. For more information on wills and trusts, take a look at some of our other articles:
Estate planning in reality is a very ambiguous term. Buying a safe for your home could be considered estate planning as can setting up a trust. You can estate plan for your children, your elderly parents, and even your pets. To define the term, it is the process in planning out your medical and financial needs for the future.
Various instruments are used in estate planning such as a power of attorney, a healthcare proxy, and a guardianship. Even buying life insurance is considered estate planning. If you don’t have an estate plan or haven’t thought about what to do to ensure your children and dependents are secure after your passing, we suggest you contact a NYC based estate and probate lawyer immediately. Read some of our articles on estate planning: