What is Probate?

In the State of New York, all Wills that distribute over $50k in assets must go through probate. In probate, the courts verify the validity of the Will and ensure that the estate  is managed and distributed as stated in the Will. An executor will be named by the courts.  Once an executor is appointed, this person will notify creditors and heirs of probate.

The executor is responsible for taking inventory of the estate, obtaining any required appraisals to accurately establish the value of certain assets, such as vehicles, art or jewelry. They will file the final tax return for the deceased person and pay any taxes owed. Once the taxes and creditors are paid, the executor distributes any remaining assets to the named heirs and charities.

Probate Can Quickly Become Complicated

Depending on the size of the estate, the remaining liabilities of the deceased, and the validity of the Will, the probate process can become quite complicated. An experienced probate attorney will guide and advise you throughout the probate process, which could take anywhere from six months up to one year. Your attorney can help you locate resources, such as appraisers, senior advocates or financial advisors. The American Bar Association recommends hiring a probate administration attorney to guide you through.

Cara Law Assists With Probate Cases

The probate process is meant to protect you and your assets, as well as ensure, through a court-supervised process, the administering of your estate and transferring of your property pursuant to the terms of your will. Your attorney can explain what your beneficiaries should expect and advise you of the best ways to preserve your estate.