Legal Question in Wills and Trusts in New York

state inheritance tax
My mother's estate is worth about $500,000. Her will states that the house be sold and split equally to her three children. The will does not address other assets or burial wishes. Should she update her will? Will a ny inheritance tax affect the monies gained by the children after the sale of the house? How can we avoid probate court? She is 77 and frail. Is a living trust something she should consider?

Asked on 4/19/05, 9:53 am

Norman Nadel Norman Nadel, Esq.

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Re: state inheritance tax

There will be no New York estate tax; estate is not large enough.

If the will fails to dispose of all of the assets then then those assets are divided by intetate law; equal share to each child.

Burial wishes can be put in the Will but it is better practice for your mother to express her wishes orally or in writing to the children.

A Trust can avoid probate.

Estate review and revisions of Wills, etc. are always desireable so that your mother's wishes are carried out.

Don't forget a health care proxy.

Answered on 4/19/05, 10:19 am

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