Probate Attorneys in Brewster, New York
When a loved one passes, it is emotionally challenging for all that knew the deceased. The probate of a will can be an overwhelming process that burdens one with undue stress dealing with complex legal and financial issues related to estate administration. If you are acting as the executor of the will, you have an overwhelming responsibility. Having the right attorney to guide you through the process and making a difficult time much easier to bear is in your best interests. Probate is the process by which a court will allocate assets and real property to heirs and beneficiaries. Much of the probate process includes paying debts, gathering and managing the estate’s assets, distributing assets, and, if applicable, filing overdue tax returns. If you need quality legal advice and guidance, contact the Law Offices of Andres D. Gil, PLLC today to learn how we can help.
What is Probate in NY?
When a person is getting their estate in order, they typically create a will and appoint an executor to the will. When that person passes away, the executor of the will has the duty of carrying out the person’s last wishes, taking the will to probate, handling outstanding financial matters, and distributing all assets. Probate is the formal legal process that provides recognition to a will. This officially appoints the Executor who will administer the estate, allowing them to distribute assets to the intended beneficiaries and eventually close the estate. Most probate proceedings are neither expensive nor prolonged, which is contrary to the claims of many vendors selling living trusts and other online and standard form products.
Can My Estate Avoid Probate?
The basic job of administration and accounting for assets must be completed regardless of whether probate is necessary. Sometimes, probate can be avoided if all assets were transferred to a living trust during lifetime or were jointly owned. In planning your estate, it is more important to minimize the real issues, such as lawsuits by heirs, that can make probate difficult than it is to avoid probate altogether. The living trust, which is commonly known as the revocable trust, is often marketed as a vehicle that allows you to avoid probate upon passing. Many types of property routinely pass outside of the probate process, even without the cost of establishing a living trust. Examples include, but are not limited to, life insurance or retirement plan proceeds, which pass to a named beneficiary by designation rather than a specific bequest in your will. Real estate or brokerage accounts held in joint names with right of survivorship are other common examples.
Contact a NY Probate Attorney
Everyone has unique goals and circumstances and it is extremely important to execute the proper instruments to ensure your legacy meets your wishes. At the Law Offices of Andres D. Gil, PLLC, we take a personal approach to listen and develop estate plans that meet your desires. Contact us today for a free consultation to discuss how we may assist you to ensure your wishes are carried out without burdening your heirs.