Listen to Lawrence…Property Tax Deadlines
Dear clients and friends,
Here are more of your questions and my responses:
QUESTION ONE:
Is there any discussion about extending the due date of real estate taxes due? I know that the state can’t wait to get their hands on this revenue but I’m sure there are many families now experiencing poor cash flow.
ANSWER:
I have not been able to find any delay in the property tax due date. I have seen that the two County Executives have asked the Governor for permission to delay the property tax bill due dates but there has been no movement on this as of this writing. If any of my readers know something different, please let me know and I will share it with our full list.
QUESTION TWO:
I still have some old wills done before we began working with you and I want to know if I have to keep them or not?
ANSWER:
Ready for a lawyer’s answer? It depends! Clearly, the new will we did for you revoked the old will. In most cases, the old will can and should be destroyed because it could be confusing to those who find it and could hurt the feelings of anyone whose percentage or responsibilities were diminished.
On the other hand, keeping the old will sometimes provides a history of your thought process. If, for example, you cut out a son in the old and new wills, it shows a history of your long held intent to disinherit. This would be good evidence against the son should he ever try to challenge it.
On the other hand, if for some reason the second will turns out to be no good (which would never happen with one of my wills 😀) because you were not competent, or there was some form of fraud or duress, or the will was not properly executed, then the second will really never happened and the first will would still be good. In this case, you may or may not want it around. Keep in mind, I have never seen this happen, except when we studied the concept in law school.
So, the bottom line is, it depends on a case by case analysis, but the most common answer is to toss it.
I hope this helps!
Please pass this information to your family and friends and continue to keep your questions coming! If you are thinking about it, others are probably thinking about it too, so my answers will no doubt help you and many others. Let’s stay connected.
LISTEN TO LAWRENCE!
BE SAFE!