Estate Administration
Estate Administration and Probate Lawyers in North Tonawanda, NY
Seaman Norris LLP's North Tonawanda Estate Administration legal service is devoted to helping those who have recently lost a loved one navigate the process of estate administration. This can be a difficult and emotional time, but our experienced attorneys can help make the process as smooth and stress-free as possible.
On this page, you will find information on what estate administration entails, as well as resources and links to help our North Tonawanda legal clients. We understand that this is a difficult time, and we are here to help, so please feel free to contact us with any questions or concerns you may have.
Continue reading to learn more about Seaman Norris LLP's North Tonawanda estate administration's legal aspects and intricacies.
Choose A Compassionate Estate and Probate Attorney
When choosing A law firm for an estate planning attorney, it's crucial to choose someone who understands both you and the local state's estate law. Our North Tonawanda, New York estate administration lawyers have years of experience in the Niagara County, Western New York region, and a deep understanding of New York probate law.
The Seaman Norris LLP team comprises New York State Bar Certified Attorneys and highly educated lawyers from some of America's top law schools. Together, they have helped guide countless families through years of difficult times. The firm has a long-standing reputation for providing quality legal services and fighting for the rights of its clients.
Seaman Norris LLP is dedicated to helping families in need and will continue to do so in the future. In this pursuit to help the denizens of North Tonawanda with estate administrating, we've shed some light on what the estate planning process necessitates in the passage below.
Estate administration is the process of managing the estate of a deceased person and distributing assets to beneficiaries and heirs according to the wishes outlined in their will or trust. If an individual dies without a will, state law determines how their assets are distributed through probate court proceedings.
Learn About The Estate Administration Process
Estate administration is the process of managing the estate of a deceased person and distributing assets to beneficiaries and heirs according to the wishes outlined in their will or trust. Those who are named in the will and are in charge of administering the estate are called executors. Though someone who has not been named but has been chosen to administer the estate nonetheless is called an estate administrator.
During the estate administration process, our attorneys handle all necessary tasks, including collecting and organizing assets, paying bills and taxes, as well as distributing remaining assets to beneficiaries according to the deceased's wishes.
If the deceased family member holds a will in their name that has not been legally executed, our attorneys can assist with the probate proceedings to determine how their estate should be distributed.
If there is no proper will acknowledged by a court, an estate will be distributed according to New York state intestacy laws. This means that assets will be divided among spouses, children, and other close relatives in a predetermined order outlined by the law.
Our North Tonawanda Estate Administration team can also assist with trust administration if necessary, including modifying or terminating trusts, as well as distributing trust assets according to the trust documents.
Learn About The Probate Process
The probate process implies that a will is being validated by the court, meaning an executor is appointed to manage the deceased's estate on behalf of their beneficiaries. The probate process can be highly complicated and usually will involve multiple legal steps.
The ordeal can even bring about a legal dispute such as a contested will or executor fee dispute, which usually calls for probate litigation. Luckily, even if the legal proceeding leads to probate litigation, our probate attorneys are highly experienced in resolving any disputes that may arise and provide legal advice and representation to ensure your rights are protected.
The Valuation of Estate Assets
Once a family member has passed away, the value of their estate must be determined in order to properly distribute assets and pay taxes. This can be done through an estate agent or a chartered surveyor for a relatively flat fee.
The estate value is determined through factors such as the deceased's debts, assets (including real estate property, vehicles, investments, and personal belongings), as well as any applicable taxes that must be paid. If all the debts and taxes are paid off with the remaining holdings, the value is distributed according to the wishes outlined in a will or trust.
Programs such as life insurance policies are not incorporated within estate planning documents or other related legal documents or legal proceedings; meaning once the decedent has passed, the life insurance proceeds according to the set beneficiary designations.
If there are no designated beneficiaries for a life insurance policy, the funds are distributed according to state law or, inevitably, as an asset through probate court.
What to Know About Paying Estate Inheritance Taxes
In order to understand estate law in its totality, you'll first have to learn about estate tax returns and inheritance taxes.
Estate tax returns are necessary for estates that exceed a certain value, usually $6.11 million in the state of NY. A list of which US states are affected by this law and their updated value stipulations can be seen with the following link posted below.
States With Estate or Inheritance Taxes
(To be certain if you have to file an estate income tax return, please be sure to view your local state's government tax return instruction information.)
On the other hand, inheritance taxes are a type of tax that is paid by the beneficiary receiving assets from an estate, rather than the estate itself. Inheritance tax rates also vary per state, with some states not having any at all.
Currently, New York does not have inheritance tax laws in place, though there are inheritance laws in general that may apply. For example, if a resident passes without leaving a will behind, New York state's intestacy laws dictate that the surviving spouse will inherit the probate estate.
Though if there are descendants of the late decedent, they will inherit everything from the probate case after the initial $50,000 of the balance is given to the surviving spouse.
If you are still unsure about the current status of intestacy laws, the probate process, probate litigation, or other related state laws that pertain to a legal process, please feel free to contact a probate attorney for more information.
Seek Legal Advice From An Estate or Probate Lawyer Who Understands
Seaman Norris LLP feels that every individual in North Tonawanda deserves a personal representative that can have their estate plan carried out as they wish, without any added stress to anyone involved. We believe in providing legal advice that is straightforward and easy to understand for everyone.
We also believe in being readily accessible to all who may need our services, so for the sake of easy accessibility, we've provided a list below of our North Tonawanda legal aids for your benefit:
Our North Tonawanda Law Firm
Daniel E. Seaman
Thomas D. Seaman
Anthony J. Serianni
Local Estate Administration & Probate Court House Locations:
Local County Court Info List | Niagara County Court House (Probate Subdivision Court) - North Tonawanda City Court - Town of Tonawanda Justice Court - North Tonawanda City Clerk
Niagara County Legal Aid For North Tonawanda
Local Legal Services | Estate Administration, Elder Law Attorney, Dispute Resolution, Land Use, Municipal Law, Business Law, Municipal Law, Family Law, Real Estate Law, Personal Injury, Estate Planning
Get in Touch With Our Law Firm
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