Tag: Probate

Law & Legislation Information about Estate planning and old glasses.
When a Shareholder Dies

Like dental work and filing income taxes, estate planning is not something most people typically enjoy - and is often put off till it’s too late. This reporter’s own father - who sold life insurance for a living - did not purchase cemetery …

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Management Inheriting Co-op Shares
2019 November Inheriting Co-op Shares

Say you and your spouse own a single-family home. You’ve got two grown kids and a couple of grandchildren. When the time comes, assuming your will and other end-of-life documents are in order, seeing to it that your property and assets are …

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Law & Legislation Understanding Rights of Inheritance
2017 October Understanding Rights of Inheritance

They are subjects no one ever really wants to discuss: death and divorce. But when it comes to safeguarding an asset as valuable as a family co-op or condo,  those discussions become imperative, however uncomfortable they may be. Should the…

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Law & Legislation Inheritance and Rights of Succession
2016 June Inheritance and Rights of Succession

It is said that the only two things that you can truly count on are death and taxes but if you own a co-op or condo and haven’t adequately prepared for your own eventual demise, you can also count on your passing causing even more grief for…

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Q&A Q&A: Convincing Board to Accept a Living Trust
2014 October Q&A: Convincing Board to Accept a Living Trust

I would like to establish a revocable living trust and place my co-op apartment in the trust. This will avoid probate for my heirs. My co-op board is unwilling to agree to my request. I have not been given a reason for this. How can I convi…

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Management Estate Planning
2010 Jan Estate Planning

Planning for what happens to your estate upon your death is never a pleasant chore, but if you own property of any kind, that planning is an vital responsibility. While there are many aspects and legal mechanisms that can be considered…

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Q&A Q&A: Family Trust
2006 Nov Q&A: Family Trust

Q My parents are both in their seventies and have begun setting their financial affairs in order. They have put whatever assets they own, such as cars, stocks and bonds, into their family trust in order to simplify their estate and avoi…

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Board Operations Future World
2006 Jul Future World

Most of us don’t like to spend a lot of time contemplating our so-called “final wishes”—we’d much rather leave planning our wills and executing our estates for another day. Uncomfortable as the subject is for many people however, it’s …

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Q&A Q&A: Will vs. Trust
2006 Mar Q&A: Will vs. Trust

Q I have been a shareholder in my Brooklyn co-op since 1986, and am facing a problem that has come up since my husband’s death almost 18 months ago. My husband was an active participant on our board of directors—past president, vice pre…

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