When a loved one passes away in New York, their estate must go through a legal process to properly distribute their assets and settle their affairs. This process, known as estate administration, can seem overwhelming during an already difficult time. This guide aims to demystify the basics of New York estate administration.
The Difference Between Probate and Administration
In New York, the process has different names depending on whether the deceased left a valid will:
- Probate applies when there is a valid will. The Surrogate's Court validates the will and appoints the executor named within it by the decedent.
- Administration occurs when someone dies without a will (intestate). The court appoints an administrator, typically the closest living relative, to handle the estate.
Both processes serve similar functions: collecting assets, paying debts and taxes, and distributing what remains to the proper beneficiaries.
Initial Steps After Death
- Locate important documents including the will, deeds, insurance policies, and financial statements.
- Secure the deceased's property to prevent theft or unauthorized access.
- Obtain death certificates (usually 5-10 copies) from the funeral home or vital records office.
Filing in Surrogate's Court
The appropriate Surrogate's Court is in the county where the deceased permanently resided. To begin the process:
- Submit the original will (if one exists) to the court, along with a certified death certificate.
- File a petition for probate (if there's a will) or administration (if there's no will).
- Notify all necessary parties who would inherit either under the will or by law. They must be given the opportunity to object to the proceedings.
Duties of the Executor or Administrator
Once appointed by the court, the executor or administrator must:
- Gather and inventory all assets belonging to the deceased.
- Open an estate bank account to receive funds and pay expenses.
- File final income tax returns for the deceased and any estate tax returns if required.
- Prepare an accounting to the Beneficiaries
- Distribute remaining assets to the rightful beneficiaries.
Common Challenges
- Family disputes over inheritance or the validity of the will
- Creditor claims that may reduce what heirs receive
- Property in multiple states requiring ancillary proceedings
- Estate tax issues for larger estates
Small Estate Affidavit
For estates with personal property worth less than $50,000 and no real estate, a simplified "Small Estate" proceeding (called Voluntary Administration) is available. This process is faster and less expensive that a full estate proceeding.
Best to Seek Professional Help
Because there are many nuances involved in opening and managing an estate, it is best to consult and/or retain an experienced estate/probate attorney to guide you through this process. Feel free to call our office at 347-766-2685 for a free phone consultation. Roman Aminov is an award winning probate and estate administration lawyer in NYC.
Final Thoughts
Estate administration and Probate in New York can be complex, but understanding the basic process helps families navigate this challenging time. Planning ahead—creating an estate plan built around avoiding probate through the use of trusts, maintaining organized records, and discussing wishes with family members—can significantly reduce the burden on loved ones and ensure your assets go to those you intend.
