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Changing nature of fiduciary responsibility in New York

In a previous blog post, we discussed how technological advances have forced certain changes in New York estate planning laws. In particular, we talked about how the duties of a fiduciary have grown to include handling the electronic and digital records for a decedent's estate.

Most of us have steadily increased in our usage of internet technology over the last two decades. Today, it is not uncommon for the average person to pay their bills via an online checking account. The use of electronic accounts to deposit or withdraw money to other financial institution is equally pervasive in our modern society.

When a person forms a will, they routinely name an individual or individuals to carry out certain tasks in the distribution of their estate. Under New York law, these individuals are known as trustees or fiduciaries. Yet, how can one be certain that those individuals entrusted with handling these affairs after death will responsibly carry out their duties?

Our law firm has over 50 years of combined legal experience in estate planning. We know how to supervise and manage the collection of your digital information. We will work with you to help identify potential pitfalls in the proper distribution and allocation of your assets and property. For example, you may want to grant the rights to your online photographic records to your grandchildren or perhaps transfer the digital rights to the record of your military service to your sister.

We are committed to providing your family with excellent client service by remaining responsive to your ever-changing needs. Our mission is to serve your best interests. We strive to stay current with all of the changes to New York's estate planning laws so that we may implement strategies to ensure that your goals are always carry out as you had envisioned.

There is never any charge for meeting with us to discuss your future estate planning requirements. Although based in Rochester, we serve clients throughout upstate New York and into the Finger Lakes region.

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    --David and Ajia Cherry, Fairport
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Weinstein & Randisi - estate planning

290 Linden Oaks, Ste. 200
Rochester, NY 14625

Toll Free: 800-768-1780
Phone: 585-310-1578
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