The probate process can be overwhelming, however, with the help of one of our skilled Putnam County probate attorneys, you can feel more at ease. Contact our firm today.
What is probate in New York?
When a person is preparing their estate, they will likely create a will and appoint an executor to that will. In the event that the person passes away, the executor will assume all responsibilities. These responsibilities will typically include carrying out the decedent’s wishes, taking the will to probate, managing any financial matters, and distributing assets. Probate is the formal legal process that provides recognition of a will.
The process of probate will typically entail the court making the decision of whether or not the decedent’s will is valid. The beginning of the process will involve the executor filing the will in the Surrogate Court within the county the individual resided in. Once this is complete, the executor is required to supply the court with certain documents. This can include the death certificate, probate petition, and any other necessary documentation. Once the will is filed, any beneficiaries of the estate will receive notice of where probate will happen.
What do I close an estate in New York?
After a will passes through probate, the executor has the authority to continue following the rest of his or her responsibilities. In most cases, the obligations that remain are typically paying off any outstanding debts or taxes, resolving any contests to the will, and distributing the assets within the estate to the rightful beneficiaries. Once the court is provided with evidence that the executor finished their job, the administration process can end and the estate can be closed.
If you would like to learn more about the probate process, do not wait to reach out to our firm today to speak with one of our experienced Putnam County probate attorneys.
Can probate be avoided?
In some cases, probate can be avoided if all assets were transferred to a living trust during a lifetime or were jointly owned. When planning your estate, it is more critical to minimize the real issues, such as lawsuits by heirs, that can make probate complicated than it is to avoid probate entirely. The living trust, which is generally known as the revocable trust, is often marketed as a vehicle that allows you to avoid probate upon passing. There are several types of properties that routinely pass outside of the probate process, even without the cost of setting a living trust. Examples include life insurance or retirement plan proceeds, which pass to a named beneficiary by designation rather than a specific inheritance in your will. Real estate or brokerage accounts held in joint names with right of survivorship are other standard examples.
Reach out to our firm today to learn more about probate and how we can help you.
Contact our Firm
If you or a loved one needs assistance creating an estate plan and wish to speak with an experienced attorney, contact the Law Office of Andres D. Gil, PLLC today.