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In the realm of estate planning in New York State, a crucial but often overlooked aspect is the management of digital assets. As we delve deeper into the digital age, it's imperative to understand the legal implications and strategies for incorporating digital assets into your estate plan.
Reena Gulati Blog
Business succession planning is a critical aspect of ensuring the longevity and stability of any business. A well-thought-out succession plan is not just a prudent choice but often a legal requirement. Here are some of the key considerations and steps involved in business succession planning in the state of New York that every business owner needs to know.
A fiduciary is a person or entity that is appointed to manage the assets and affairs of another person or entity, known as the principal or beneficiary. Fiduciaries are held to a high standard of care and must act in the best interests of the principal or beneficiary. In some cases, it may be necessary to remove a fiduciary if they are not fulfilling their duties properly.
Settling a trust estate in New York can be a complex and time-consuming process. The amount of time it takes to settle a trust estate can vary greatly depending on the size of the estate, the complexity of the trust, and any disputes that may arise during the process.