When a loved one passes away, their estate typically goes through a legal process known as probate. Probate is a court-supervised procedure that ensures the deceased person’s assets are distributed according to their wishes or according to the state’s laws if there is no will.
The probate process in New York begins by filing a petition with the Surrogate’s Court in the county where the deceased person resided at the time of their death. If there is a will, the petition is for letters testamentary. Only the person named as Executor of the Will can file for letters testamentary. If there isn’t a will, the petition is for letters of administration. This can only be filed by an entitled family member. Either petition should include important information such as the deceased person’s name, date of death.
If there is a will, the court will need to ensure it is valid and created under lawful circumstances. This involves examining the will’s contents, signatures, and any accompanying witnesses. The court will also verify if the will was created under attorney supervision, and without any undue influence or coercion. If the court finds the will to be valid, it will be admitted to probate and the executor will be granted letters testamentary.
The person responsible for administering the estate is known as the executor, or administrator if there is no will. The court will appoint an administrator to handle the affairs of the estate, ensuring that assets are properly distributed, and any necessary tax returns are filed. The executor’s responsibilities include gathering and inventorying the deceased person’s assets, notifying creditors and beneficiaries, and handling any legal or financial matters that arise during the probate process. If there was an active lawsuit at the time of the decedent’s death, an administrator, with permission from the court, may settle a lawsuit on behalf of an estate or file a new one.
Once all debts and funeral expenses are paid, the remaining assets of the estate can be distributed to the beneficiaries according to the terms of the will or New York’s intestacy laws. It’s essential for the executor to keep accurate records of all financial transactions and obtain court approval before distributing any assets.
Probate can be a complex and time-consuming process, particularly for those who are unfamiliar with the legal requirements. If you find yourself dealing with probate in New York, it’s advisable to seek legal guidance from an experienced probate attorney. A great attorney will help navigate the process, ensure compliance with state laws, and provide support during this difficult time.