Probate/Administration/Wills

What is the difference between Probate and Administration of an estate?

What will happen to the assets of the estate?

Does Probate or Administration affect all of the property of the deceased?

Does an Executor or Administrator get paid for services and if so, how much?

What is the cost of Probate or Administration?

When a loved one passes away you need to know what to do and you need to have your questions answered.   The length of time needed to complete the probate or administration of an estate depends on the size and complexity of the estate, the type and nature of the property owned by the decedent at the time of death and the local rules and schedule of the probate court.

The probate or administration of any estate is unique, but most involve the following steps:

• Filing of a petition with the proper Surrogate Court.
• Notice to heirs under the Will or to statutory heirs (if no Will exists).
• Petition to appoint Executor (in the case of a Will) or Administrator for the estate.
• Inventory and appraisal of estate assets by Executor/Administrator.
• Payment of estate debts to rightful creditors.
• Sale of estate assets.
• Payment of estate taxes, if applicable.
• Final distribution of assets to heirs.

Wills/Trusts

The ease with which your assets can be distributed upon death depends on your planning during your lifetime. There are many reasons why a person should execute a Will while they are competent to do so. Whether to assure the distribution of their assets upon death, to protect a spouse or children or preserve a legacy the execution of a well drafted Will is essential.  We assist our clients:

• Drafting and executing Wills and/or Trusts
• Preparing and signing Powers of Attorney and Health Care Proxies
• Planning for family needs

We also have a network of professionals in other fields, such as accountants and tax attorneys who can address complex issues that may assist in proper planning and preservation of assets.