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ESTATE ADMINISTRATION & PROBATE

(Click here to watch 3 Ways to Avoid Probate Without an Attorney video)

When a loved one passes away the assets left behind can only be legally transferred to the beneficiaries in certain ways.

If there is no estate plan, the person dies “intestate”. The heirs of the estate hire a lawyer and asked the court for the authority distribute the assets. This process is called an administration proceeding.

(Click here to watch How to do Probate on your Own video)

If there’s a will, the executor must hire a lawyer and asked the court for the authority to distribute the assets according to what is written in the will. This process is called a probate proceeding.

In either of these cases, the family will need to hire a lawyer and go to court to get letters testamentary or letters of administration.

If a person uses the trust, none of the assets owned by the trust require any court involvement to transfer the assets to the family. Trust administration, however,  is required which means keeping records documenting the transfers properly. This is all done in the lawyer’s office and there is no court involvement. In fact in certain estates, there is no lawyer involvement after death. All the family needs is a good CPA.

(Click here to download How To Find a Lost Will PDF)

(Click here to download Safe Deposit Boxes PDF)

 
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Areas in Putnam County, New York Parker that Trust Law serves:

Brewster Carmel Cold Spring Garrison Kent Lake Carmel Lake Mahopac Lake Peekskill Mahopac Mahopac Falls Nelsonville Patterson Philipstown Putnam Valley Southeast

Areas in Rockland County, New York that Parker Trust Law serves:

Airmont Bardonia Blauvelt Chestnut Ridge Congers Garnerville Grandview on Hudson Haverstraw Hillburn Monsey Montebello Nanuet New City Nyack Orangeburg Palisades Pearl River Piermont Pomona Sloatsburg South Nyack Sparkill Spring Valley Stony Point Suffern Tallman Tappan Thiells Tomkins Cove Valley Cottage West Haverstraw West Nyack

Areas in Westchester County, New York that Parker Trust Law serves:

Amawalk Ardsley Armonk Baldwin Place Bedford Bedford Hills Briarcliff Manor Buchanan Chappaqua Cortlandt Manor Crompond Cross River Croton Falls Croton-on-Hudson Crugers Dobbs Ferry Eastchester Elmsford Goldens Bridge Granite Springs Harrison Hartsdale Hastings-on-Hudson Hawthorne Irvington Jefferson Valley Katonah Larchmont Mamaroneck Millwood Mohegan Lake Montrose Mount Kisco Mount Vernon New Rochelle North Salem Ossining Peekskill Pelham Pelham Manor Pleasantville Pocantico Hills Port Chester Pound Ridge Purchase Rye Rye Brook Scarsdale Shrub Oak Sleepy Hollow Somers South Salem Tarrytown Thornwood Tuckahoe Valhalla Verplanck Waccabuc White Plains Yonkers Yorktown Heights