Probate Attorney in Manhattan, NY

Understanding NY Probate Law

New York probate law can be complex and confusing. For executors and those managing an estate, the existence of a will is a crucial issue. Probate law works very differently for an estate with a will in place versus an estate without one:

• What happens when there is a will? If a will is in place, it probably names someone as executor to handle the estate. If you are the executor, you can file the will in probate court with a petition, a death certificate, and other documentation the court requires. If no one contests the will, the probate process should move forward normally. The executor handles assets, takes care of debts, then distributes the remainder to beneficiaries named in the will.
• What happens when there is no will? When there is no will, the process can be significantly more complicated. An executor will need to be determined according to law. That person is the closest distributee and is usually a family member. Once the executor is in place, the administration of the estate begins. However, during the probate process, the estate is divided and distributed according to New York’s default probate laws rather than the decedent’s terms.

What to Expect in the Probate Process

The probate process can be lengthy and may include these steps:

• Obtaining the will and determining the executor.
• Speaking with a probate lawyer in Manhattan. If you are an executor or have questions about the probate process, an attorney can advise you on the law and how to move forward.
• Filing for probate with the court.
• Participating in any court hearings and obtaining letters of administration.
• Notifying creditors and other interested parties. As part of probate, you will need to formally notify organizations and individuals.
• Gathering and appraising any of the estate’s assets. The appraisal can require independent specialists who can examine property and determine what it may be worth.
• Understanding the debts owed by the estate. As part of the probate process, you must put together detailed lists of the estate’s debts.
• Liquidating or selling assets as needed. You may need to liquidate certain assets to pay the estate’s debts. This process requires you to keep detailed records about how you sold the assets.
• Settling debts and taxes. As part of probate, you must pay any debts owed to creditors or taxes owed to the government. You must also file any tax forms that the government requires.
• Once all outstanding estate issues are settled, you may be able to distribute the assets and close the estate.