Enea, Scanlan & Sirignano, LLP
Call Us Today for More Information 914-269-2367

Elder Planning Isn't Just For The Elderly

Probate can prove lengthy and expensive

Knowledge about the importance of a will is becoming more mainstream. However, many New Yorkers still put off creating this important estate planning document, which puts their assets and the distribution of those assets at risk. For many New York families, their loved ones pass away before any estate planning tools are utilized. When this happens, the matter will have to be addressed through probate court.

When an individual dies without a will and his or her estate is distributed through probate, many issues can be settled. For example, the state's intestate succession statutes lay out which relatives will receive the estate in these circumstances, thereby reducing if not eliminating the need for litigation.

Much of the probate process is overseen by an estate administrator. Although the court typically appoints a surviving spouse as the estate administrator, this is not always the case. Individuals can petition the court for appointment as estate administrator, which requires a little work on their part. To do so, they need to analyze the estates assets and debts, file a petition with the court and provide notice to creditors and family members. Unless the petition is challenged and a more appropriate individual is identified, the petitioner will be appointed estate administrator.

Although probate can prove beneficial in some instances, many New Yorkers try to avoid it and for good reason. One reason to avoid probate is that it can be lengthy, thereby a costly process. It can also force assets to be distributed in a way that is in opposition to the deceased individual's wishes. This can create conflict amongst family and friends, potentially even leading to long, drawn-out litigation. So, those who want to avoid the headaches of probate and ensure that their estate passes in accordance with their wishes should consider discussing their situation with an experienced estate planning attorney.

No Comments

Leave a comment
Comment Information
Email us for a Response

Let's Make A Plan For Your Future

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Enea, Scanlan & Sirignano, LLP

245 Main Street
White Plains, NY 10601

Toll Free: 800-724-1327
Phone: 914-269-2367
Fax: 914-948-9316
White Plains Law Office Map

We Can Help You Plan For Your Future. Whether You're Planning Ahead Or Needed A Plan Yesterday, We Have The Experience, Know-How And Desire To Make Your Life Better. Contact Us Today For Your Consultation.