The settlement of a New York estate is comprised of a number of stages. At the outset, a determination must be made as to whether a decedent had a Last Will and Testament or died intestate. This is important since the procedures to obtain Letters Testamentary in a probate proceeding,…
There are a number of aspects to the settlement of an estate. The New York Probate Lawyer Blog has examined these matters in detail in many earlier posts. The first stage of an estate is to obtain the appointment of a fiduciary. This involves a petition to appoint an executor…
The estate settlement process in New York can be viewed as having three parts. At the outset, there are proceedings for the appointment of an estate fiduciary. If a decedent dies with a Last Will and Testament, then a probate case is filed in the Surrogate’s Court. When there is…
The settlement of a New York estate can be very complicated and involve many different issues. In fact, due to various problems, some estates may take years for estate settlement. However, there are three basic components to the process of administering an estate. First, there are proceedings concerning the appointment…
Fiduciaries in New York such as executors, administrators and trustees are obligated to account to the beneficiaries. This means that estate and trust beneficiaries can request that they be provided with a financial accounting of the fiduciary’s activities. An account typically has specific information contained in various schedules showing the…
The job of an estate fiduciary is to settle a decedent’s estate. Whether the fiduciary is an Executor or Administrator there are three main aspects to estate administration. At the outset, the proceeding to appoint a fiduciary is critical. This is because until an administrator or executor is appointed, there…
The administration of a New York estate typically has three phases. At the outset, a fiduciary needs to be appointed such as an Executor or an Administrator. Once there is someone in an official capacity to handle the decedent’s affairs, the process of locating and collecting assets can begin. Also,…
The administration of a New York estate typically is comprised of three stages. The first stage involves the appointment of an estate fiduciary such as an Administrator when the decedent dies intestate or an Executor when there is a Last Will and Testament. In most cases this stage is uneventful…
Estate settlement in New York requires that the fiduciary determine and resolve many difficult types of issues. Among the items Administrators and Executors need to finalize are claims against the estate. Creditor’s claims can be in various forms. The more commons claims are outstanding credit card bills. Also, the decedent…
An estate fiduciary can be an Executor, Administrator or Trustee. All fiduciaries have various duties and responsibilities. When a fiduciary fails to fulfill one of these obligations he may be found to have breached his fiduciary duty. One of the most important duties of a fiduciary is to provide beneficiaries…