Do I need a good estate attorney?

Recently Mark Cuban, the owner was sued by Ross Perot Jr. for being "wreckless and careless" in running the Dallas Mavericks. As you may or may not know the Dallas Mavericks basketball team won the NBA championship this year.

Mark Cuban's attorney filed an interesting motion for summary judgment which consisted of 4 pages stating that the Dallas Mavericks were NBA World Champions and a half page picture of them holding up the trophy. It was a simple, short, and excellent motion for summary judgment that resulted in the case getting thrown out.

I'm sure that Mark Cuban's attorneys are excellent and top notch, it just so happens that this is one of those times it probably didn't matter... when you're running a sports franchise that is the reigning world champion and a shareholder accuses you a mismanaging the team, it's going to be pretty easy to show that you didn't mismanage the team. That's why the motion for summary judgment was just a few pages including a picture.

There are many other cases that are not so clear cut, such as many battles over estates, especially here in New York City. If you're in an estate fight you're going to want to make sure that you have a good attorney that knows the ins and outs of New York estate law.

Do people who participate in high risk activities need a Will or Estate?

Do people who participate in high risk activities need a Will or Estate?

Personally I think everyone needs a Will or Estate, but if you participate in high-risk activities such as: mountain climbing, horseback riding, motorcycle riding, flying an airplane, hang gliding, bungee jumping, or sky diving... it may be even more important for you to make sure that you have a Will or Estate setup to protect your loved ones should something unfortunate happen.

Recently a New York man was riding his motorcycle without a helmet to protest the New York motorcycle helmet laws crashed and was killed. He was riding with 550 other people in the protest. It is believed that if he was wearing a helmet he might have survived his accident. As anyone who's ever ridden a motorcycle near New York City knows, the traffic alone can be extremely hazardous. It was a tragic event and hopefully he had a Will or Estate in place to care for his family.

Some high-risk activities such as riding a motorcycle, riding a horse or flying a plane can be fun and enjoyable hobbies, however it is important for those to participate in these activities to consider what would happen if something went wrong. Do they have a Will setup? Do they have an Estate?

If you participate in a high-risk activity and are interested in setting up a Will, Trust or Estate contact the Law Offices of Albert Gurevich, New York estate attorneys, to schedule an appointment call (212) 233-1233 .

Can I leave assets or an estate for my pet?

It seems that recently more and more people are concerned about what will happen to their pets after they pass. Many people have pets that are like members of their family and it's really important to them that their pets are fully taken care after they pass away. It was once considered something that only rich people did but now it is much more common.

On that note, the world's richest dog has passed away. Recently Leona Helmsley's dog, Trouble passed away. Trouble was considered by many the richest dog in the world because he had inherited 2 million dollars when Leona passed away. Originally Leona had left Touble, the bulk of her estate, $12 million but a surrogate court judge reduced it to $2 million. The dog had a full time security guard because it had received threats. Now that Trouble has passed away the rest of the $2 trust will revert to the Helmsley family trust.

Contact the Law Offices of Albert Gurevich, New York estate attorneys, to find out what options you may have regarding providing for your pets if you were to pass, such as a pet trust or pet will. Call (212) 233-1233 to schedule an appointment.

Can the Attorney Drafting a Will in New York also serve as a Witness to my Will?

Attorneys are sometimes faced with a situation when they are unable to find two witnesses to a will. Attorneys can be witnesses to the will they are drafting, provided the attorney is not named as a beneficiary under the will. An attorney that is not interested in the will can be a witness during the execution ceremony. However, witnessing a will is probably not the best idea for an attorney, because that may preclude the attorney-draftsman from representing the estate.

In order to make a will, a person must be at least 18 years old and be of sound mind. In addition to the witness requirement being a formality essential to New York will execution, another reason that witnesses are required at the signing of the will is to ensure that the testator had the mental capacity and requisite intent to make a will.

If a will contest should arise in the future, a witness may be called to testify about the testator’s frame of mind at the execution of the will. While a witness that stands to benefit from the will might have a motive to lie about the testator’s intent and capacity, a disinterested witness does not.

Although an attorney may act as a witness, an attorney may not want to be a witness if the will may be contested in the future because he will be called as a witness and be unable to represent any of the parties in the will contest.

Before witnessing a will you have drafted as an attorney, take into consideration the possibility of there being a potential will challenge in the future. It's a good idea to go the extra step and find another witness.

Can a Husband and Wife have a Joint Will in New York?

The problem with having a joint will is that it might impact both makers' ability to change the will at a later date, because making a joint will can be viewed as a contract to make a will.

Joint wills are valid in New York. A joint will is a single testamentary instrument, which contains the wills of two or more persons, is executed jointly by them, and disposes of property owned jointly, in common, or in severalty by them.” (Schloss v. Koslow, 20 AD3d 162 (2d Dept. 2005). However, despite the fact that they are valid in New York, joint wills are not always the best estate planning tool for spouses.

Having a joint will places limitations on the surviving spouse. With a joint will, the surviving spouse is not able to go in and revise the will after the first spouse died. Therefore, when circumstances change, the surviving spouse will be unable to modify the will to fit those new circumstances.

After years have passed, circumstances could change so much that a new will is necessary. However, because the deceased spouse is not alive to approve the new will, the surviving spouse will either have to keep the joint will or hire a contract attorney to try to invalidate the original will.

If you are thinking about getting a joint will with your spouse, call the Law Offices of Albert Gurevich at (212) 233-1233 to discuss whether it is appropriate for you and your situation.

Is there any Recourse for a Client who Suffers Financial Loss by an Attorney’s misconduct?

While most attorneys are honest, caring and loyal to their clients, a couple of bad seeds inevitably exist. The largest category of losses are associated to real estate transactions, involving thefts of real property escrows. If you are wronged by your attorney, you should file a claim with the Lawyers’ Fund. The Lawyers’ Fund is an independent public trust which is financed by members of the legal profession. The Fund is set up to reimburse law clients who incurred financial loss due their attorney’s dishonest conduct while representing them.

In 2010, the Trustee’s of the Lawyers’ Fund reimbursed a total of $8.5 million to eligible law clients who suffered financial loss due to dishonest conduct by attorneys in New York. In order to avoid such a problem, make sure you do your research before hiring an attorney.

How Do I Remove an Executor Named in a Will in New York?

An executor named in a will is a person chosen by the testator who will administer the testator’s estate and carry out the provisions of the will.

If a beneficiary wishes to have an executor removed, they must prove that the executor is either ineligible to act as executor or that the executor has engaged in serious misconduct. 

The Court will not force an executor to step down unless incapacity or serious misconduct has been found.  Physical illness which is preventing the executor from carrying out his duties or constant drunkenness would be examples of incapacity.  Examples of serious misconduct would be stealing from the estate, failure to provide an accounting to the court, not carrying out the duties of executor, waste of estate assets, and failing to abide by court orders. 

Other certain grounds, while distressful to the beneficiaries, have not been found to be grounds for removal.  Some examples would be the executors acting as if the estate is his or hers, rude behavior by the executor to the beneficiaries, refusal to give information to the beneficiaries, and delay in settling the will.

If you feel the executor of your loved one’s estate is acting improperly, call the Law Offices of Albert Gurevich at (212) 233-1233 to discuss your fiduciary removal proceeding.