FEATURES & NEWS

Estate Planning Attorney
Estate Planning

Is My Lost Will Useless?

Is My Lost Will Useless in New York? Losing a will can be a significant concern for anyone involved in estate planning or administration. In

Read More »
Estate Planning
Estate Planning

Battling Against Deportation

Battling Against Deportation: A Comprehensive Guide Deportation can be a frightening prospect, particularly in a city as diverse as New York. Understanding your rights and

Read More »
estate planning
Estate Planning

Missing Or Deceased estate?

Navigating Missing or Deceased Estate Issues When a beneficiary is missing, or an estate owner passes away without clear directives, handling the estate can become

Read More »
Probate Attorney
Estate Planning

The Need-To-Know: Probate Litigation

The Need-To-Know: Probate Litigation in 2024 As we approach 2024, the landscape of probate litigation in New York continues to evolve. Understanding these changes is

Read More »
Estate Planning
Estate Planning

The Top Secrets of Estate Accountings

The Top Secrets of NY Estate Accountings 2024 As we move into 2024, estate accounting in New York continues evolving, presenting challenges and opportunities. Understanding

Read More »
Morgan Legal Group Estate Planning
Estate Planning

ABC 9 GA WTVM | Morgan Legal Group

Understanding Estate Planning with Morgan Legal Group in New York City Estate planning is a crucial step for securing your financial future and ensuring your

Read More »
Will
Estate Planning

Is My Will Legit?

Is My Will Legit? Ensuring Your Will’s Legitimacy in New York Creating a will is a fundamental component of estate planning, but the looming question

Read More »
Probate
Estate Planning

The Mysteries of Probate Revealed

The Mysteries of Probate Revealed in New York The probate process in New York often seems shrouded in mystery, leaving many to navigate its complexities

Read More »
What is Probate in 2024
Estate Planning

What is Probate in 2024?

As the legal landscape continues to evolve, understanding the probate process in New York in 2024 is crucial for effectively managing estate planning and administration.

Read More »
Probate Lawyer Queens
Estate Planning

Probate Lawyer Queens

Why You Need a Probate Lawyer in Queens Probate can be complex and daunting, especially in the diverse and dynamic borough of Queens, New York.

Read More »
  • Ancillary probate issues

One common issue with probate is when estate properties named in the Will are located in different states. When a decedent have properties in one or more states other than where he lived, then a secondary probate called ancillary probate is required. Typically, probate duration varies depending on the complexity of the estate document and the estate properties involved. However, with inclusion of ancillary probate, probate proceedings is further lengthened. The reason being the executor will need to initiate another proceeding for the ancillary probate, while the primary proceedings would still be on going. The dual phase of these proceedings could prove stressful for parties involved. Both primary and the ancillary probate proceedings must both come to an end before the estate can be administered to its beneficiaries.

You can however avoid the troubles of ancillary probate by placing your assets in a living trust document. These assets regardless of what state they are located will not need probate before being given to named beneficiary. You can allow property located in your state to pass to your beneficiaries through the probate of your will, and then those located in other state can be named in a trust. As such no ancillary probate would be required for these assets before the beneficiaries gets them.

Also, you might also consider retitling property located in other states so you and your desired beneficiary jointly hold ownership with rights of survivorship. As such the named beneficiaries would automatically inherit the property at your death without the necessity of probate.

  • Dissatisfied beneficiary/Will contest

It is not uncommon for disagreement to come up among estate beneficiaries during probate. Beneficiaries can hire a probate attorney once they feel cheated or that the probate proceedings isn’t going their way.. As such, each action taken by the executor appears to be nitpicked by these types of lawyers. The more beneficiaries an estate has or the more they complain about the probate procedure, the longer probate can take. The disagreement among beneficiaries could lead to Will contest.

A will contest is a legal proceeding initiated to invalidate a last will and testament. A probate proceeding will remain open for a very long time if a will contest occurs. These issues are typically resolved after lengthy court trials.

Much more, probate issues arises when there are so much beneficiaries named in a Will.  Probate Proceedings takes longer time as the number of estate beneficiaries increases, particularly if they, too, live far in different states or from the personal representative. This is simply a function of the time it takes to send multiple documents back and forth between numerous people who are located in many different places.

  • Wrong estate administrator, executor or representative

An executor or estate representative is the individual named in a person’s will to take responsibility of managing their estate and disbursing it when the testator passes away. When the testator dies, the executor has to take the will to court for validation because handling someone’s estate has to be legal. Once the court receives the will, probate commences. An estate executor is saddled with many responsibilities required for the fulfillment of the estate document. Once he/she cannot handle these responsibilities correctly, the probate duration will likely be longer.

An estate executor is usually charged with several duties. One of which is to distribute deceased’s assets based on what is writing in the will. The estate executor is also charged with registering the death of the deceased, making funeral arrangements, valuing the estate of the deceased, paying any tax and outstanding debt, applying for probate, evaluating the decedent’s finances., placing a deceased estates notice, sharing the estate to the designated beneficiaries, and keeping estate accounts.

Not all estate executors are suited for the job. So sometimes, these individuals usually seek for the help of a probate lawyer who assist them with most of the task.

  • Estate with large debt and taxes

Estates that are required to file IRS Form and the federal estate tax return take longer to administer than estates that don’t have to file such a return. On average, it takes the IRS 3 – 8 months from time the file was submitted to processing the final report. This usual contribute to the excess time wasted during probate. Payment of taxes and a decedent’s debts are major steps required for successful probate proceedings. Transfers of estate or assets to beneficiaries can only occur after settlement of creditors and estate taxes.

Likewise, if other expenses incurred during probate are not adequately settled, probate proceedings can be delayed. These may include income tax, federal and/or state estate tax, medical bills before death, and funeral expenses, among others.

Most Popular: