Antonelli & Antonelli

How to Get Unclaimed Funds or Abandoned Property in New York and New Jersey In New York State, banks, insurance companies, and other businesses must turn over unclaimed funds (a.k.a. abandoned funds, missing funds) to the Office of Unclaimed Funds, which is part of the Office of the State Comptroller. These funds are deemed abandoned if there is no activity in the account for a specified period of time depending on the type of account. If a loved one died without a will and you need legal assistance regarding the probate process, here is what you need to know. https://1l.ink/L5SV7XR

Revocable vs. Irrevocable Trusts – What’s the Difference? There are two main types of living trusts – revocable and irrevocable trusts. Each has their own benefits and caveats, and choosing which one is right for your individual situation can seem complex. Understanding the differences between these two types of trusts is key to selecting a trust that properly protects your assets and accomplishes the financial goals you have for yourself and your family. https://1l.ink/JGRSLRH

Probate Assets vs. Non-Probate Assets Probate (or Estate Administration where there is no Last Will & Testament) refers to the process whereby an estate representative (e.g. Executor, Administrator) is appointed by the Surrogate’s Court to act on behalf of an estate. Once an estate representative is appointed, he or she then has the authority to collect the assets of the estate and distribute them according to the decedent’s Last Will and Testament (or laws of intestacy where there is no Will). However, a distinction must be made between probate assets and non-probate assets. https://1l.ink/48PZKWN

Settle Your Tax Debt for a Fraction of the Amount Owed Many of us have heard the tax man knocking and it is not a pleasant sound. We don’t want the IRS to remove money from our bank accounts; we don’t want our wages garnished; perhaps most of all, we don’t want a tax lien in place that could put our homes in jeopardy. These consequences appear ominous and in many cases overwhelming but there are programs designed to assist taxpayers in distress. This is a unique opportunity for those struggling financially to escape overwhelming and ever-expanding tax debts and get a fresh start without filing for bankruptcy. Here is what you need to know. https://1l.ink/FGCTDX4

Is it true that you pay taxes even after you die? There are three types of taxes your estate may owe. And sometimes, the situation can get complicated. Here is what you need to know. https://1l.ink/BJP7M3W

Anatomy of a Probate Proceeding This article is intended to provide an overview of the necessary steps in a sample New York probate case. Every case is different and the case highlighted here has certain unique characteristics that are not present in all cases. Likewise, some cases contain facts that are not present in this representative case https://1l.ink/L4ZKRDV

Estate Planning with Life Insurance Proceeds from life insurance policies often comprise a large portion of the average estate and many people recognize the importance of purchasing a life insurance policy in order to protect one’s family. However, many people are not aware of the potential tax implications associated with a large insurance payout. Insurance proceeds may be subject to estate tax, thereby significantly reducing the funds available to your loved ones. https://1l.ink/8CNWL8J

Conditions That Must Be Met in Order for a Non-Marital Child to Inherit From His Father Special rules apply to inheritance by “non-marital” children, previously known as “children born out of wedlock,” when it comes to establishing the child’s right to inherit. Under New York’s Estates Powers & Trusts Law (EPTL) §4-1.2, a non-marital child is the legitimate child of his mother and may, therefore, inherit from his mother; however, a non-marital child may inherit from his father only if one of the following conditions is satisfied. https://1l.ink/5CV4QC8

Can I email it to you? E-filing in New York Surrogate's Court and the Fate of Original Signatures The introduction of electronic filing to New York State Surrogate's Court, which for most counties occurred in late 2020 in response to the COVID pandemic, seemed to eliminate the need for pen-to-paper signatures. The body that administers the statewide efiling system (NYSCEF), and in most cases, the courts, do not require that the original signed version--with wet ink signatures--be filed with the court. But as you might expect, rules are in place to ensure that efiled documents are signed by the right person. https://1l.ink/WNHLSGT

Read what Libby Avalos has to say about working with us: ⭐⭐⭐⭐⭐ on Google. "From the first Zoom meeting with Daniel and his team they were kind and communicative. This was extra important to us as we were dealing with a case in the US from Canada. They took great care of us and everything was resolved in the end with our best interests in mind. I would definitely recommend Antonelli & Antonelli, and would use their services again if I ever had the need. Thank you Dan!"