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What is the probate process in New York State?
Probate is the legal process that takes place after a person passes away. It typically involves submitting a valid will to the surrogacy court in New York state, taking inventory of the deceased’s estate’s assets, paying off the estate’s liabilities and distributing the estate assets to the beneficiaries designated in the will.
What are non-probate assets in New York?
Non-probate assets include: Probate may not be necessary if: The estate is small. In New York, a small estate or voluntary administration proceeding can be filed as an alternative to probate if the decedent had less than $30,000 of personal property either with or without a will. There are no probate assets.
What is a small estate in New York State?
In New York, a small estate or voluntary administration proceeding can be filed as an alternative to probate if the decedent had less than $30,000 of personal property either with or without a will. There are no probate assets. If a person’s estate consists solely of non-probate assets, there is no need for the probate process.
Do I need a probate attorney in New York?
A probate attorney is not required under New York law, but legal assistance can save time and effort by ensuring that paperwork is completed properly and everyone with an interest in the estate receives the required notifications.
Probate Process. The New York probate process begins after a loved one passes away. Assets valued at $30,000 or more held in the decedent’s sole name at the time of the decedent death are subject to probate under New York law.
Why should I hire a New York probate attorney?
Using a New York probate and estate attorney assures that the probate process will go smoother and the beneficiaries will receive their inheritances in a quicker and more efficient manner.
Do you need a free consultation with a NYC probate attorney?
Probate laws should not compound that pain. Call an experienced NYC probate attorney for a free consultation as let us assist you in navigating the legal maze. Read More » Kristin R. White is a graduate of Boston College Law School.
What are the steps involved in probate estate administration?
A probate estate administration consists of the following primary stages: The first stage involves the personal representative compiling a list of all the decedent’s assets, having the assets appraised and then determining the total value of the estate.