Long Island Estate Administration Lawyers Guiding Clients Through the Estate Administration Process
Also Serving: New York City
Estate administration in New York often involves probate, which is a notoriously complicated, expensive process. The court must validate the will, then verify that all debts are paid and beneficiaries receive their inheritance according to the wishes of the deceased person. Even if your loved one’s estate doesn’t require probate, you should still reach out to an experienced estate administration attorney who can help you with the distribution of assets and repayment to creditors following the death of your loved one.
Whether you are a beneficiary, estate administrator, or another close friend of the decedent, you deserve the peace of mind of knowing that your loved one’s estate assets are disbursed according to their wishes. At Davidov Law Group, we offer a free consultation where we can discuss the situation you’re facing in the estate administration process. We will guide you through the court process, help repay estate debts, and assist with any estate litigation necessary.
Don’t go through this challenging time alone. Reach out to our knowledgeable and compassionate estate lawyers at (516)-928-6594 today!
What Are the Steps of Estate Administration?
If you are the estate executor, you have a fiduciary duty to complete certain tasks according to the decedent’s wishes. It is important to understand the steps of distributing estate assets and taking care of any debts against the estate, so your loved ones don’t have to go through any unnecessary legal battles. An estate administration lawyer can be an excellent ally as you navigate the various stages of estate administration following the death of your friend or family member.
Some important steps during the estate administration process are:
- Calculating the value of the estate by cataloging and appraising assets held in all estate funds
- Interpreting and administering trusts
- Paying debts owed by the decedent, including loans and estate tax
- Gathering important documents related to the disbursement of estate assets
- Distributing the inheritance to beneficiaries according to the expressed wishes of the decedent
- Handling burial and funeral arrangements
- Determining taxes owed and filing with the IRS
What Are Common Issues in New York Estate Administration?
Administering the estate of a friend or family member can, understandably, be a very trying task. The estate fiduciary or administrator must complete an inventory of the assets and personal property owned by the deceased person, then distribute the funds to creditors and family members who have a right to the estate. However, things become even more complicated when issues arise regarding kinship or disputes over inheritance.
Some common issues that occur during the estate administration process in New York are:
- The executor fails to fulfill their fiduciary duty and complete their responsibilities regarding estate administration.
- The will is contested by someone close to the decedent, leading to litigation.
- Creditor claims and tax debts make resolving the decedent’s debts complicated.
- The decedent owned real estate or other personal property in many states, complicating the estate administration process.
- The deceased person died intestate, leading to disputes among beneficiaries over who should inherit what.
Because of the many possible complications that arise during estate administration, it is wise to reach out to an estate planning law firm for legal counsel and representation. Your estate lawyer can help you pay creditors, sort through disputes over the assets, and ensure the decedent’s wishes are carried out properly.
What Do Estate Administration Lawyers Do?
An experienced estate administration lawyer is an excellent ally in your corner when carrying out the estate of a friend or loved one. This is especially true in New York, where most estates must go through the probate process, which can be costly and quite complex.
Some of the benefits of hiring an estate attorney when administering an estate are:
- They can quickly identify solutions to disputes that arise among beneficiaries.
- The estate attorney will help inventory the estate assets, so you don’t have to go through this stressful and complicated process.
- They can help protect the estate from claims by creditors and unnecessary taxes.
- Your lawyer can simplify the probate process, saving your family time and money.
- They can help interpret and administer trusts.
- They will prepare estate and gift tax returns to further minimize the tax burden on the estate.
With the complexity of estate administration in New York, it is essential to have legal counsel and representation. Hiring an estate administration attorney is an excellent move to save your family from even more heartache and stress during this already emotional time.
Should You Hire Our Estate Administration Attorneys?
If you are faced with the prospect of administering the estate of a departed loved one, you have our deepest sympathies. We know what it’s like to go through this challenging time, and we are passionate about helping other families get through the estate administration period with as little stress and expense as possible.
Our law firm has received numerous awards for our excellent service, including being named Super Lawyers for the dedication and skill we offer our clients. You can rely on us for counsel and representation when it really counts. Please get in touch with our talented legal team to schedule an appointment and discuss your unique situation with our knowledgeable lawyers in person.
We have helped many clients during our 25 years of combined experience, and we want to assist you with your estate administration needs. Call today to schedule your free consultation at (516)-928-6594!