Probate & Estate Administration
Settling the affairs of a loved one who has recently passed away can be very stressful.
You can count on us to be there with you at every step - providing guidance, answering all of your questions, and giving you peace of mind.
Estate Administration is a general term used to describe the entire process of administering a deceased person's estate in accordance with a valid Will or Trust, or where no valid Will or Trust exists, pursuant to the state laws of Intestacy. In most cases, this process is carried out under the guidance and authority of the Surrogate's Court (New York State's probate court).
During the administration there is quite a lot to do:
- Legal papers must be filed with the Surrogate's Court
- Creditors, financial institutions, and other interested parties must be notified
- Debts and taxes must be paid
- Assets must be gathered, valued, and either protected or sold
- Distributions must be made to beneficiaries listed in the Will or trusts
- The deceased's overall wishes must be carried out
The entire process often costs several thousand dollars and takes 7-9 months (or more) to complete.
Although complex, at its heart, Estate Administration is a process. Like any process, if you step back, break the whole into manageable parts, and work with qualified legal assistance, then the end can usually be reached efficiently and economically.
Contact us now to set up a free consultation to discuss your personal situation.
Frequently Asked Questions
What should I do before the initial meeting and what should I bring to the meeting?
We ask that you attempt to gather and bring to the initial meeting as much information as possible. Prior to the initial meeting, we will send you an Estate Administration Questionnaire and Checklist to assist you in this process. Amongst other documents, you will need to locate all of the deceased's estate planning documents (Will, trusts, Power of Attorney, etc.), if any. This might require a thorough search of the deceased's home and maybe his or her safe deposit box. In addition, you will also need to take an inventory of the deceased's assets (i.e. real estate holdings, bank and brokerage accounts, life insurance policies, evidence of any retirement benefits, etc.).
Can I speed up the process by distributing property to family members or filing for insurance benefits?
NO. It is important that you DO NOT give away any property, change the title of any assets, or file any claim for life insurance until instructed to do so as you may inadvertently forgo certain tax benefits or violate New York State law.
How long will this process take from start to finish?
It is difficult to say how long the process will take as it depends on many variables and the circumstances of the estate. A simple probate can take as little as seven months, but a more complicated administration can take years to settle.
How much will legal fees be for Estate Administration?
We generally offer clients both an hourly rate and a flat fee option. The fees vary depending on the size and complexity of the estate, and start as low as $1,500 for a very simple estate. During our initial meeting we will get a better understanding of your particular situation and be able to provide you a reliable fee quote. You will find our fees and billing practices are in line with lawyers who specialize in our practice areas. You can help keep overall costs to a minimum by promptly and accurately completing those tasks for which you assume responsibility.
How do I pay expenses related to the Estate of the deceased person?
Payment of many expenses can (and should) be deferred until the Estate Administration process is initiated. At that point, a separate bank account will be set up for such purposes. However, some expenses, such as our minimum fee and court fees must be paid before the Estate Administration begins. You should be prepared to advance your personal funds for valid expenses of the Estate. Once the estate bank account is established, the Estate can reimburse you for such expenses.