We are the New York probate and estate administration lawyers, Law Offices of James Yastion, PLLC, and probate and estate administration is one of our prime focuses. If your relative or loved one has passed on and you are faced with administering the estate, we can help.
We will guide you through the estate process of probate and estate administration from beginning to end. The first task is to probate the will in a surrogate’s court, or seek an administrative proceeding if there is no will.
The second task in estate administration is to gather, inventory, and value the assets of the estate. These assets may include:
Unless these assets are jointly owned or have a named beneficiary, they make up the probate estate. The proceeds from the probate estate are used to pay any outstanding debts and administration expenses. An executor or administrator must evaluate all claims made against the estate and pay legitimate debts.
Depending on the size of the estate, the assets and liabilities may need to be reported on a federal estate tax return and a New York estate tax return. Other required paperwork can include a fiduciary final accounting of the distribution of an estate. We will work to ensure that a high percentage of the estate is left for its beneficiaries instead of going to creditors and tax authorities.
You will also have to make decisions about asset management of an estate that will need to be made after the fact, including timing of distributions, tax elections, and allocation of tax exemptions. At the Law Offices of James Yastion, PLLC, we provide full-service guidance and advice regarding all of these estate issues.
Contact Law Offices of James Yastion, PLLC, New York probate and estate administration lawyers, at (845) 255-4400 to schedule an initial consultation to discuss your probate and estate administration concerns.