Long Island Estate Administration Lawyer

Helping Families with Estate Administration in Nassau, Suffolk and Queens Counties

After a person passes their affairs must be attended to whether by pre-designated persons or by virtue of the laws of the State of New York itself under the authority of the Surrogate's Court. People who pass with a will or certain types of trusts in place leave an estate that will go through a process called "probate." Those that did not prepare this important documentation as part of their estate planning or asset protection devices leave an estate that will go through a process called "administration."

Estate administration involves the Surrogate's Court appointment of an Administrator in court papers called Letters of Administration. A public administrator will charge a fee to the estate for their services which includes gathering and accounting of assets, paying debts, and asset distribution. This process typically takes significantly longer and costs much more money than going through probate but, most importantly, it is the least likely method of satisfying the wishes of the deceased.

Take the first step in securing your family’s future. Schedule a free legal consultation with a dedicated Nassau County estate administration lawyer by calling (516) 712-2142 or contacting us online today!

Key Steps in Estate Administration

Here are the key steps involved in estate administration:

• Determine the Need for Probate: Identify if the deceased left a valid will and whether probate is necessary. If there’s no will, the estate will be administered according to intestacy laws. If there is will, submit it with a petition for probate to the appropriate probate court. This includes paying any required court filing fees.
• Appointment of Executor or Administrator: If the deceased named an executor in the will, the court will appoint them. If there’s no will, the court will appoint an administrator, usually a close family member.
• Notify Heirs and Beneficiaries: Inform all heirs and beneficiaries of the probate process, providing them with relevant information about their rights.
• Inventory of Assets: Create a detailed inventory of the deceased's assets, including real estate, bank accounts, personal property, and investments.
• Notify Creditors: Notify creditors of the deceased's passing and allow them to make claims against the estate. This typically involves publishing a notice in a local newspaper.
• Settle Debts and Liabilities: Pay any valid debts, including taxes and expenses incurred during the estate administration. Ensure all claims are resolved before distributing assets.
• File Tax Returns: Complete and file any necessary income tax returns for the deceased, as well as estate tax returns if applicable.
• Distribute Assets: Once debts and taxes are settled, distribute the remaining assets to the beneficiaries according to the terms of the will or intestacy laws.
• Close the Estate: File a final accounting with the probate court, detailing all financial transactions during the administration. Once approved, petition the court to close the estate.

Each step involves specific legal and financial responsibilities, making it beneficial to consult with a Long Island estate administration attorney for guidance throughout the process.

How Long Does it Take to Administrate an Estate in Long Island?

Generally, the process can take anywhere from several months to over a year. The time it takes to administrate an estate in New York can vary widely based on several factors including the complexity of the estate, the creditor claims, tax return process, asset liquidation, potential disputes among heirs, and court processing times.

How Long Does an Heir Have to Claim Their Inheritance in New York?

In New York, an heir typically has seven years to claim their inheritance after the estate is settled. This timeframe is related to the statute of limitations for filing claims against an estate.

Don’t face estate administration challenges alone. Reach out for a free legal consultation with a knowledgeable Long Island estate administration lawyer. Call us at (516) 712-2142 or fill out our online form to connect!

What is the Order of Inheritance in New York?

In New York, the order of inheritance follows a specific hierarchy established by the state's intestacy laws, which dictate how an estate is divided when someone dies without a valid will. 

Here’s a breakdown of the order of inheritance:

• Spouse: If the deceased is survived by a spouse and no children, the spouse inherits the entire estate. If there are children, the spouse inherits the first $50,000 of the estate plus half of the remaining balance. The children inherit the other half.
• Children: If there is no surviving spouse, the children inherit the entire estate equally. If a child predeceases the parent, that child's share typically goes to their descendants (the deceased's grandchildren).
• Parents: If there are no surviving spouses or children, the parents of the deceased inherit the estate equally.
• Siblings: If there are no surviving spouse, children, or parents, the estate is distributed to the deceased's siblings equally. If a sibling has predeceased, their share would go to their children (the deceased's nieces and nephews).
• Grandparents: If there are no surviving relatives in the above categories, the estate goes to the deceased's grandparents equally.
• Aunts and Uncles: If there are no surviving relatives from the previous categories, the estate will be distributed to aunts and uncles.
• Distant Relatives: If there are no surviving relatives in any of the aforementioned categories, the estate may go to more distant relatives, such as cousins, according to the laws of succession.
• State: If no legal heirs can be identified, the estate will escheat to the state of New York.

Importance of Planning Ahead

While estate administration focuses on the post-death process, planning ahead can alleviate many challenges for loved ones. Engaging in proactive estate planning allows individuals to clearly outline their wishes regarding asset distribution, appoint executors, and make important healthcare decisions. 

A comprehensive estate plan can simplify the administration process for family members and reduce the emotional and financial burden during an already difficult time.

Estate Administration Attorney Serving Long Island & Suffolk, Nassau and Queens Counties

If a friend, family member or loved one passed away and did not leave a valid will, you may face the process of estate administration. This involves cataloging the estate and distributing assets, as well as paying taxes and debt. Estate administration may be complex and difficult to deal with, particularly after the loss of a loved one. You have the opportunity to resolve these matters swiftly and effectively with the help of an experienced Nassau County elder law lawyer.

The Virdone Law Firm, P.C. has helped steer many administrators through administration of the decedent's estate and has represented other parties to the process, including those engaged in estate litigation. 

Our law firm helps clients on Long Island and in Queens County, Nassau County and Suffolk County with their estate administration needs. Whether you are a beneficiary or have been named as the personal representative (administrator) of the estate, we can assist you in managing all legal and financial issues that arise.