Albert Goodwin, Esq. is a New York probate attorney who helps administrators and executors close out and settle estates. Our knowledge of the court system allows us to close and settle matters in New York Surrogate’s Court without unneeded expenses and delays. Call (212) 233-1233 or 212-233-1233 for more information.
The probate process has many components. If you are the person in charge of the estate and are going to be probating a will here’s roughly what the process would look like:
Those probate process steps can vary and they can overlap. To be successful, you’d have to carefully complete each one of those steps. You would greatly benefit from having a New York probate attorney represent your throughout the process.
The probate process can be difficult to navigate. It is filled with technicalities, deadlines, traps for the unwary and red tape. For that reason, you want to have a New York probate lawyer navigate you through the process, whether someone died without a will or you are probating a will.
Here are some of the things that your New York probate attorney will do:
If your estate has disagreements, seek the services of an estate litigation attorney with a proven track record of results. This is crucial for your best chance of getting the inheritance that you are entitled to.
If all goes well, you should be able to
Since estate matters are complex and most people do not understand them and they are not trained to resolve probate issues on their own, the services of an experienced New York State probate attorney is usually required. An attorney who is experienced in handling probate matters, is knowledgeable about New York State and federal tax and inheritance laws will be able to assist you with resolving your probate and estate matters in New York Surrogate’s Court in an efficient and quick manner.
Whether you are an executor, administrator, beneficiary or creditor of an estate, winding up an estate involves many aspects. A New York probate attorney understands the probate timelines and can facilitate the process for you by handling the following aspects of the probate of your estate:
Since every estate involves different matters and unexpected situations may arise that family members are not prepared to deal with at such a delicate and emotional time of their lives, having an experienced probate attorney handle your estate will be more efficient, less stressful and save you time and money, especially on estates where there are substantial assets involved requiring the sale of real estate in one or more states, stocks, bonds, and other personal property, distributions to charities and beneficiaries, including children from previous marriages and current and ex-spouses.
Here are some of the questions that we are most frequently asked:
It is best to wait at least 7 months before closing the proceeding because that is the cutoff point for creditors to make claims against the estate. This is the shortest time it can take, but just as any lawsuit, it can take years if there is a disagreement among interested parties. See the sample probate timeline for more information.
Probate should be finished up within a reasonable timeframe. However, what is reasonable can vary depending on the complexity of the case. Disagreements between the parties will prolong the probate process.
Although there is no deadline to file or probate a will in New York, it should be done as soon as possible. If the will is not filed within a reasonable time period and a party or a creditor will be disadvantaged as a result, the court will penalize the will holders and credit the disadvantaged party or creditor.
In a probate proceeding, you can ask your New York probate attorney to file a proceeding to compel that person to produce the will.
The executor is entitled to a fee, called a “commission.” It is based on the value of the estate, according to the following schedule:
5% of the first $100,000
4% of the next $200,000
3% of the next $700,000
2 ½% of the next $4,000,000
2% above $5,000,000
However, if the executor also benefits under the will, it might be a good idea to waive the commissions, to save on income taxes.
Most wills specify what would happen in this event. If the will is silent on the topic, the children of the person mentioned in the will get the share, but only that person’s children are the testator’s grandchildren or nephews/nieces.
The gift to the former spouse is not valid. However, if the spouse’s children are in the Will, they do get the gift.
Yes. The adopted child’s share comes out of the other sibling’s share (this only works if the child was adopted after the will was executed).
Call the Law Offices of Albert Goodwin at (212) 233-1233 or 212-233-1233 and make an appointment with a New York probate attorney to discuss your probate proceeding.