The Probate lawyers New York are professional lawyers having vast experience and expertise in providing knowledgeable probate law representation in all boroughs and counties in New York. Having years of experience in the probate law and court matters of New York, these lawyers will work with you hand in hand to achieve your estate goals.
The probate Process
Probate is the legal process by which the personal and real property as well as debts left behind by a deceased are dealt with. Typically, probate in New York is supervised in a New Yoke Surrogate’s Court, and must be in the same county where the decedent died. Probate laws slightly vary from state to state, and hence the need to involve one of the knowledgeable probate lawyers New York when rounding up an estate in New York.
The word “probate” can also be used to mean the court where probate is conducted, and the process of distributing the estate assets among beneficiaries. By default, every probate process must include the following aspects of estate administration:
- Proving the validity of a will, (if a will was actually drafted by the decedent before death);
- Appointing an estate administrator if the will didn’t appoint one, or when the will fails the validity check;
- Ascribing a total estimated value to all the assets within and out of the estate;
- Paying all estate bills and debts;
- Identifying and notifying all potential beneficiaries and family members of the deceased;
- Distribution of the assets based on the instructions of the will or by intestacy laws.
In New York, when a valid last will is absent, estate administration is done based on the intestacy laws of New York. The law mandates that a fixed portion of the estate be giving to the spouse of the deceased, while the rest goes to the children. If the deceased died leaving no spouse or kids, the property goes to the next closest living relative or next of kin.
Probate typically begins when the appointed executor files a petition to the Surrogate’s Court along with the death certificate and will of the decedent, and ends when the estate is formally closed.
Duties of probate lawyers New York
All the steps involved in the probate process of New York depend on the probate laws of New York state. The steps will also differ based on whether the decedent died leaving a valid last will and testament, testate — or he died leaving no valid last will or trust, i.e. intestate. In either situations, the probate lawyers in New York are more than capable in handling probate.
A probate lawyer may be hired by either the fiduciary or beneficiaries, or both parties , when certain matters arise during the course of probate, or when the heirs and family members do not get along well with or trust the fiduciary.
Some probate lawyers New York also specialize in distinct lawsuits more or less associated with probate. For example, a potential beneficiary may challenge the decedent’s last will through a will contest, suspecting the will to have been written out mischief; or they may hitherto challenge the actions of the executor/administrator. Lawyers specialized in resolving such conflicts include probate litigators, estate litigators, or estate and trust litigators.
How will probate lawyers assist Fiduciaries?
The estate administrator, executor or trustee are commonly called fiduciaries or personal representatives and have responsibilities to the estate and the beneficiaries alike. Due to how demanding these responsibilities can get, a probate lawyer may be employed to help the executor with the following:
Assets collection and valuation
The probate lawyer can assist the executor in locating, collecting and valuating all assets within and outside the estate, insurance proceeds, and make appropriate decisions with regards to retirement plans and accounts. The probate lawyer will help with all these.
Handling finances
The personal representative will also have to keep track of the estate checking account and pay estate debts, bills and expenses out of the account. The probate lawyer will help in verifying the claims of creditors and checking the financial powers of the executor.
Settling disputes
Dispute often flare up between beneficiaries and fiduciaries. Specialized probate attorneys will have to step in to resolve such differences legally.
Although settling an estate do not always need highly professional hands, there are complicated estates which can give serious headaches to estate administrators. There are probate lawyers New York who will put all hands on deck to provide you the best services to their capacity. To get a smooth sailing probate, seek and consult a probate lawyer nearest to you today.