Legal Question in Wills and Trusts in New York
Assets
In 1998, my father drew upa a will in which he stipulated that all his assets were to be divided equally between me and my sister. The only real asset he had at the time was ownsershop of a co-op apartment. In 2005, he included my sister onto the co-op's stock certificate, with joint tenancy and right of survivirship. I was told that my sister was put on the certificate but was not informed of any details regarding the ownership aspect. I only learned of this recently (approximately a year and a half after my father's death). Was either my father or sister obligated to ''officially'' inform me that I no longer had any claim on the proceeds from the sale of the co-op?
2 Answers from Attorneys
Re: Assets
No. The act was a "gift" between your father and sister and there was no duty to inform you.
Mike
Re: Assets
No there was no obligation to inform you of the transfer.
Since your father changed the ownership prior to his death, and presumably he had full mental capacity, he had the absolute right to dispose of his assets while he is alive.
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