Executors and Administrators of a New York estate bear a great responsibility with regard to their handling of a decedent’s affairs. From the surface it appears rather straightforward that the estate fiduciary needs to identify a decedent’s assets and arrange for their collection. Similarly, debts and expenses must be found…
Upon the death of an individual, the process to administer the estate commences. Sometimes a person leaves a Last Will and Testament. If there is no Will, then the person dies intestate and the distribution of the estate is subject to the laws of intestacy. A primary function in administering…
It is not uncommon for a person who is domiciled in New York to have the persons who are interested in his estate residing outside of New York. This situation can occur in a number of contexts. In the event a decedent created a Last Will and Testament, the document…
As a Trusts and Estates lawyer in New York, I receive many inquiries from individuals who are concerned about recovering and protecting their estate inheritances. The administration aspect of an estate generally can be in one of two forms. There is a probate estate where a decedent dies leaving a…
All of a sudden you are asked to be the Executor or Administrator of an estate. Most people have never acted in such a capacity and do not have any experience as to the responsibilities and tasks that lie ahead. They may be reluctant or even afraid to accept the…
The probate process in New York requires that statutory and procedural guidelines be complied with. The statutory framework is contained in the Surrogate’s Court Procedure Act and the Estates, Powers and Trusts Law. Admitting a Will to probate is, in effect, obtaining Court approval that the document is valid and…
When an Executor or Administrator is appointed by the Surrogate’s Court, the job of estate settlement begins. One of the first orders of business is identifying and collecting the assets of the estate. The New York Probate Lawyer Blog has discussed the issue of asset protection and collection on many…
One of the most important fiduciary duties of an Executor or Administrator is locating and recovering estate property. The assets of the decedent must be secured so that they can be distributed to estate beneficiaries. Assets are also needed to pay estate expenses such as deb Sometimes it is difficult…
When a person dies there is a lot of concern about the actions to be taken regarding the handling of the individual’s estate. While this article talks about 5 important steps or considerations in truth, depending upon the nature of the estate, there can be many more. To begin with,…
The settlement of a decedent’s estate involves numerous activities. When a person is appointed as the Administrator or Executor of an estate, one of the most important fiduciary duties is to locate and collect the assets that were owned by the decedent. In some estates this task can be uncomplicated. …