Category Fiduciaries
Using Agents in Your Business
by Bryan Lane Berson, Esq. Agency describes the relationship between a principal and an agent who acts on the principal’s behalf. Common principal-agent relationships include employer-employee, client-attorney, and property owner-real estate agent relationships. In business negotiations, people use agents for a variety of reasons. For example, in a negotiation, if there is personal tension between […]
Choosing Fiduciaries for Estate Plans
by Bryan Lane Berson, Esq. Typically, an estate plan contains several documents. Wills, trusts, powers of attorney (“POA”), and health care proxies (“HCP”) fulfill different functions. They appoint one or more people to carry out different responsibilities. Collectively, these people are known as “fiduciaries.” A fiduciary has a legal duty to act for the benefit […]
Estate Administration in New York: Probate and Intestate Administration
by Bryan Lane Berson, Esq. Estate administration is the settlement of the estate of a deceased person (the “decedent”). A fiduciary satisfies creditors, distributes assets to beneficiaries, and pays estate taxes. This column considers estate administration where a decedent dies (1) with a will or (2) without a will. In both situations, New York’s Surrogate’s […]
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