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When someone is injured by an employee of a business, it isn’t unusual for the individual to often try to hold the employer responsible for the employee’s conduct to bring a party with a “deep pocket” (and potentially their insurance carrier) into the litigation. Depending on the facts of the case, an employer may be … Read more
The failure of several banks in the last year caused many to question whether their money was protected if their bank went under. FDIC insurance is available up to a certain limit and not just for individual accounts. Almost all funded trusts have bank accounts that are insured by the FDIC. However, the amount of … Read more
In litigation, a judgment is only as good as a plaintiff’s ability to collect it. When a defendant has insurance, this is usually a less difficult process that does not require freezing bank accounts, garnishing wages, or attaching assets. The plaintiff gets a judgment, the defendant’s insurer pays the judgment. But what about when a … Read more
If you have multiple children, it is not uncommon to consider appointing more than one to act as co-executors of your will. As co-executors, they would manage estate affairs together. In some cases, this is a great decision while in others, it can lead to unintended consequences. If you want to name co-executors, it is … Read more
When employees cause harm to third parties, those parties often seek to hold the employer responsible. Employees often rely upon the names and reputations of their employers to open doors to client relationships and to create an assumption of skill and trust. If an employee abuses that access, the employer may be held liable to … Read more
As a general rule, you do not need to be perfect or flawless to inherit under someone’s will. If someone includes you in their will, you are entitled to your bequest, even if other people or the Court do not agree with the decision. The court’s goal is to determine and carry out the intent … Read more
Much of estate planning is built around how best to use assets accumulated during life to benefit future generations and other dependents. However, what happens if one of your beneficiaries needs assets during your lifetime? The fact that your beneficiary will inherit $100,000 at some point in the future is little comfort in the face … Read more
It’s not unusual for individuals who are left out of a family member’s or friend’s will to challenge the will on the grounds of undue influence or lack of testamentary capacity. However, as demonstrated in a recent decision of the New York Appellate Division, it can be difficult to prove your case. The decision highlights … Read more
When developing your estate plan, it is important to provide your lawyer with information on all of your financial assets. This is because executing a will is not sufficient to dispose of certain assets, known as “non-probate assets.” Such assets are not controlled by the terms of your will but must be considered in your … Read more
You are probably not going to receive a nine-figure payment, whether by accident or on purpose. However, you can still learn some valuable lessons from a group of finance firms that did get $1 billion mistakenly. In a recent case in the U.S. Courts of Appeals for the Second Circuit, the Court addressed whether the … Read more