The mysterious disappearance of an individual often makes intriguing content for crime shows and podcasts, but it is in the Surrogate’s Court where the harsh reality of declaring the missing dead plays out. This article explores that process. Our roadmap is found in Estates, Powers, and Trusts Law (EPTL) 2-1.7, which provides (a) A person … Continued

Introduction As common sources of wealth, interests in either privately held and publicly traded companies may constitute one of the most valuable assets owned by high-net-worth individuals. The early growth stage of a company reflects an optimal time to transfer wealth to family members (or vehicles for their benefit). Leveraging the applicable exclusion amount (for … Continued

Digital Assets Before the Surrogate’s Court, New York County, in In re Moran, was an uncontested application by the executor of the decedent’s estate for an order directing Apple, Inc. to assist in the recovery of the decedent’s personal digital assets or data, and more specifically, to provide access to decedent’s personal information, including music, photographs, text … Continued

The solution often turns out more beautiful than the puzzle. Richard Dawkins As all litigators know, confronting summary judgment on any issue is a daunting undertaking. When one is either a movant or respondent, a near categorical knowledge of the record facts, and a deep understanding of the applicable law – pertaining to both the … Continued

While the generation-skipping transfer (GST) tax is complex, most estate practitioners who regularly deal with it eventually obtain a level of comfort, if not an expertise, concerning it. Such practitioners counsel their clients about avoiding or minimizing exposure to the tax. Some of the typical tools in the arsenal involve the GST tax annual exclusion … Continued

Over the past few years, courts have considered various issues involving elderly individuals and those with special needs. These issues included, among others, special needs trust (SNT) distributions, housing for the menetally ill and third-party liability for nursing home payments. Here’s a rundown of some of those recent court decisions. Special Education Advocacy Can students … Continued

The New York County Surrogate’s Court recently had a rare opportunity to address the well-established – but little known, infrequently invoked, and even less frequently applied – doctrine of equitable adoption. The doctrine permits the limited enforcement of a decedent’s agreement to adopt a child. While it does not result in a legal adoption, the … Continued

Although business or investment held real estate can be a significant driver of wealth accumulation, incorporating an owner’s interest in industrial, commercial and/or multi-family properties into a comprehensive wealth plan can present unique challenges. These challenges often involve estate and tax planning for partnership held real estate that is highly leveraged and that has a … Continued

You have been named executor of the estate of your dear friend. With the assistance of your attorney, you have marshalled the decedent’s assets, filed the estate tax returns, survived an estate tax audit, paid the estate taxes, paid the decedent’s debts and claims, and made partial distributions. You now see an end in sight … Continued

Part I: Key Issues When Donating Tangible Personal Property When it comes to charitable gifts, a lot of clients do what is commonly called “checkbook giving” – that is, they write a check to their favorite charity at the end of the year. Other more sophisticated clients may gift marketable securities and wire the gift … Continued