The Law Offices of Brian J. Herman, lawyers in Hudson, NY, New York

Executors -- Steps Prior to Opening the Estate

The terms "executor," "administrator," and " personal representative" are all synonyms for someone who is legally responsible for managing the estate of a person who has died. The position of executor may be filled by a specific person named in the decedent's will or, if the decedent did not make a will, by someone whose relationship with the decedent makes him the legally responsible party (i.e., parent or spouse). The position can be refused.More...

How to Revoke a Power of Attorney for Finances

To revoke a power of attorney for finances, you can either destroy all copies of the document or execute a notice of revocation. Execution has a few technical requirements that must be complied with before revocation can be regarded as legally valid and it is the preferred method because it generates proof of revocation.More...

Codicils

In Latin, the word "codicil" means "little will. A codicil is a formal document that amends the provisions of a will. The amendments may change, modify, or supplement the provisions of a will.More...

Spousal Election

One of the main purposes for making and leaving a will is to guide the administration of the estate of the testator--the person who made the will. A will should be written in language that is clear and indisputable. Alas, the language in a will may be unclear or vague. This article discusses the protection of the testator's surviving spouse from complete disinheritance.More...

Executors - Family Business Issues

The most difficult asset to administer in any estate is a family business. There are at least four major problems: (1) lack of liquidity - not enough cash to pay administration expenses, death taxes, and specific bequests; (2) lack of investment diversification - often all or most of a decedent's wealth is in one business; (3) non-marketability - it is hard, and sometimes impossible, to sell a minority interest in a family-owned business; and (4) the family's emotional involvement and company-employee relationships.More...