Long Island Elder Law & Estate Planning

Steps New York probate

When an individual passes away, surviving loved ones are faced with the daunting task of administering the decedent’s estate. This legal process, referred to as “probate” can be a complex and time-consuming process. If the decedent left behind a valid Last Will and Testament, the individual named as the Executor in that document is responsible for overseeing the probate of the estate. Although it is always best to work with an experienced probate attorney if you find yourself acting as the Executor, the Long Island attorneys at Eghrari Wealth Training Firm explain some common steps involved in New York probate.

What Is Probate?

The details can vary wildly from complex and valuable assets to personal items with little monetary value; however, most people leave behind an estate when they pass away. They also typically leave behind debts. To ensure that those debts are paid and that estate assets are transferred to the appropriate beneficiaries and/or legal heirs, the law requires most estates to go through the legal process referred to as “probate.” Formal probate may not be required because most states offer an alternative for small estates that qualify, but some type of probate is necessary for most estates.

New York Probate Process: Common Steps

Because every estate is as unique as the person who left the estate behind, it is imperative that you consult with an experienced probate attorney if you are charged with administering an estate in New York. You may find it helpful, however, to know some common steps involved in the New York probate process, including:

  1. Deciding Who Oversees Probate: If the decedent left behind a Will, the individual named as the Executor is who the decedent wanted to handle the estate administration. If the decedent died intestate (without a Will) then any competent adult can petition to be the Administrator of the estate, effectively fulfilling the same role as the appointed Executor during the probate process.
  2. Initiating Probate Proceedings: The probate process begins with the Executor filing a petition in the Surrogate’s Court in the decedent’s county of residency. The petition, typically filed by the executor named in the deceased’s will or by an interested party if there is no will, requests the court to admit the will to probate and appoint an executor or administrator to oversee the estate.
  3. Notification to Beneficiaries, Heirs, and Creditors: The law entitled certain parties to be notified that probate is underway, including beneficiaries named in the Will, legal heirs, and creditors of the estate. As the Executor/Administrator, you must be sure these notifications occur, including official notice in a local newspaper. Notification also informs parties of their right to contest the appointment of Executor and/or challenge the validity of the Will submitted for probate.
  4. Authenticating the Will: In New York, probate is handled by the appropriate Surrogate Court. Before moving forward with the estate administration, the Will submitted must be authenticated. This includes ensuring that the Will meets all statutory requirements and litigating any challenges to the validity of the Will that are filed. Once the Will is declared valid, the court issues an order admitting the Will to probate.
  5. Appointing an Executor or Administrator: The Surrogate Court must officially appoint the Executor or Administrator. This is usually just a formality; however, if the appointment is challenged it can be contentious. Once the court appoints someone, Letters Testamentary are issued that give that individual the authority to administer the estate.
  6. Inventory and Valuation of Assets: The Executor or Administrator (collectively referred to as the “Personal Representative” or “PR”) is responsible for identifying, locating, and securing all assets owned by the decedent at the time of his/her passing, including things such as real property, bank accounts, investment accounts, personal property, and business interests. An inventory must be prepared that includes a “date of death” value for each asset.
  7. Review of Creditor Claims: Creditors have a statutory period of time within which to file claims against the estate. Approved claims are then paid according to the schedule of priority established by New York law.
  8. Payment of Taxes: Final personal income tax returns must be filed for the decedent and federal and state gift and estate tax returns must be filed and any taxes due paid.
  9. Distribution of Assets: Only after all debts, taxes, and expenses of the estate have been paid, can estate assets be distributed to the beneficiaries and/or legal heirs of the estate.
  10. Concluding Probate: The PR may be required to prepare and file a final accounting detailing all transactions and distributions made during the probate process. Once that is approved by the court, probate is concluded.

Do You Have Questions About the Steps Involved in New York Probate?

For more information, please join us for a FREE estate planning seminar. If you have questions about how to probate an estate in New York, contact the Long Island estate planning attorneys at Eghrari Wealth Training Firm by calling us at 631-265-0599 to schedule your appointment.

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About Eghrari Law Firm

Mark S. Eghrari is an attorney in private practice in Smithtown, New York. He has been in practice since 1988. Mark S. Eghrari provides extensive estate and tax planning services to individuals and businesses. Mr. Eghrari’s primary focus is helping clients avoid probate, minimize or eliminate Federal and State Estate taxes and protect their assets from the high cost of nursing care, if they become ill Read More!