Legal Question in Wills and Trusts in New York

Re: Need Information As Soon as Possible Please

The best guidance I can give you is--work with an attorney. As you can see from the responses from the other attorneys, there are many different ways to accomplish your objectives. The best approach would be to provide your attorney with a complete picture and let her/him work with you to develop the best estate plan.

If you decide to retain an attorney, keep me in mind. I think that you will find that the quality of my service, and my low fees, are unmatched.

Best of luck.

Re: Need Information As Soon as Possible Please

It doesn't matter where the will is drafted and established, what counts is your residence.

You want to pick a state that will enable you to avoid a large portion to your husband. The best state for this is Florida.

Of course, the very best program is to make gifts to your children before you pass on. An alternative is a 'trust'. These options will avoid any possible problems with state laws and estate taxes.

You are welcome to a consultation for no fee.

Re: Need Information As Soon as Possible Please

1. If ,you properly change your residence to Florida, probate of your will can be their. Merely changing your drivers license is insufficient

2. The other states will recognize residence in Florida, if done correctly and your goal to save taxes will be realized.

3.Florida, like NY has an elective share provision for a spouse (30%).

4. Since you have real property in other states,

ancilary probates will be necessary.

5. A will valid in NY, is valid in Florida

Suggest you speak with an Estate Planning attorney

as a will may not accomplish your goals.

Good luck.

Re: Need Information As Soon as Possible Please

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

I suggest that, in order to avoid the necessity of a separate probate proceeding in each state you hold property, you establish a living trust and convey title of your property to the trust.

You will have control of the property during your lifetime.

You can appoint one or more of your children as successor trustee in order to carry out your wishes.

Alternatively, you can make revocable gifts of the property to your children. You can withdraw the transfer at any time prior to your death, but the property will not be part of your estate for medicare or estate tax purposes.

Feel free to contact me with no obligation if you need further information.

Re: Need Information As Soon as Possible Please

You should be aware that in NY you cannot disown your husband and must leave him at least 50% of your estate. You may want to start gifting your assets to your children at this time to avoid those assets from passing through an estate.

Also, if you are residing in Florida, you will have to probate your will there however a will drafted in New York will be acceptable there. Feel free to contact me if you would like to discuss your options at your convenience.

Kind regards,

Peter Moulinos