Probate
When we have an estate, we must deal with probate. This is the legal process appointing the executor or administrator the authority to act as the legal representative of the estate and is the first step to distributing assets of the decedent.
Where does probate happen in NYC?
The Surrogate’s Court is the governing court and is determined by the county where the decedent resided. If the heir resided in NYC, Surrogate's court will deal with matters concerning the administration of the deceased's estate.
Petitioning an Estate
Individuals with an interest in or claims against an estate have the option to petition the Surrogate's Court.
While it's possible to petition the court without an attorney (pro se), certain estates may present complexities that render the assistance of an attorney invaluable. I can help set you up with a reputable probate attorney in NYC who is transparent and works in the interest of the client.
With a Will or Without a Will?
An Executor is when the decedent had a Will and named a person to act in their interest. The Executor receives Letters of Testamentary.
An Administrator is when there is no Will, and the Administrator receives Letters of Administration.
Why is probate actually required?
There are many reasons but some of the most important are:
- Transferring the legal title/ownership of the decedent’s property and assets to the heirs and/or beneficiaries.
- If the deceased owned real estate in his own name, no one could properly accept title to that property, nor would a bank give a mortgage to a new buyer unless the estate went through probate and a “clear title” could be given to the new buyer.
- The collection of any taxes that may be owed by the decedent or his/her estate at the time of death or taxes that become due when a property is transferred.
- Probate also provides a legally mandated deadline for creditors to file claims against the estate. This prevents old or unpaid creditors from future claims against the heirs or beneficiaries.
- Finally, it provides a legal method for physically distributing the remainder of the estate’s property to the heirs and beneficiaries.
Property Sold AS-IS
When selling an estate home, it's crucial to inform buyers that they are purchasing the property 'AS-IS.' Due to the owner's passing, standard information about the home, like the timing of the last roof repair, may not be available.
It's imperative for buyers to understand that we cannot provide certain representations or commit to any repairs or credits.
