| |
|
|
Support Obligations
|
|
|
SRZ successfully represented the beneficiary of an estate in securing her deceased former husband’s obligation to support her for the balance of her lifetime. At issue was whether the support obligation constituted a proper charge against the estate and, as long as that remained in dispute, the estate was prevented from distributing a number of valuable assets to other beneficiaries to ensure that sufficient funds were retained to meet this obligation. After a beneficiary of the estate’s most valuable asset, a villa in Florence, Italy, commenced an action in New York County Surrogate’s Court to compel its distribution, we negotiated a settlement pursuant to which the villa would be distributed and our client’s support entitlement secured by sufficient assets remaining in the estate, as well as a “legal charge” (mortgage) on an extremely valuable residential property in London and the personal guarantees of two wealthy individuals. Our client called to say she is now sleeping better than she has in ten years.
|
|
|
|