Protecting the Vulnerable: Fiduciary Duties and Bonds Explained
Protecting the Vulnerable: Fiduciary Duties and Bonds Explained When someone cannot make sound decisions for themselves, a court can appoint a fiduciary to do so. Often, courts require fiduciary bonds to protect “the ward.” Safeguarding…
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Duty-Bound to Beneficiaries: Insights for Executors and Trustees
What happens when an estate or trust plan has been set up to continue the operations of a business beyond the owner’s death—but the business ultimately does not provide value to the beneficiaries? Prioritizing the…
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Consider a Trust for Beneficiaries with Special Needs
Estate planning is a daunting challenge in families. It is even harder for families of a loved one with a disability. Arranging for a trust, trustee and trustee bond may be useful—and reassuring. Start With…
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What You Need to Know About New York Surrogate’s Court Bonds
Individuals chosen to be fiduciaries, administrators, and executors within the Empire State are typically required to post a surety bond. Surrogate’s courts require fiduciaries to obtain such a bond to safeguard the interests and affairs of the…
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Long Island Courts Begin Phased-in Opening Process
On Tuesday, May 26, courts across Long Island resumed operations for the first time since the COVID-19 shutdown. Starting on Wednesday, May 27th, counties like Dutchess, Putnam, Rockland, Orange, and Westchester enacted a gradual phased-in…
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What is a Court Bond and How Do You Get One?
Court bonds are surety bonds required to pursue an action in a court of law. The term “court bond” is actually an umbrella term encompassing a multitude of different bonds found in the court system….
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Who Starts a Trust
A trust settlor, also known as a grantor, trustor, trust maker, or creator, is the person who creates the trust. When making a trust, they establish which property of theirs they will grant to the…
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Trusts Can Benefit Special Needs Children in New Jersey
Most people are aware of trusts as devices that hold assets or funds for the benefit of children of wealthy people. But a trust in New Jersey can benefit a special needs child as well! Once…
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Estate Executors vs. Trustees
A deceased person’s estate may have an executor and a trustee, but the two of them serve different purposes even if they can often be appointed at the same time. What are the differences between the two…
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