When a loved one passes away, it can be a difficult and emotional time. One of the last things you want to deal with is the legalities of estate administration. However, if you are the executor of an estate in Niagara Falls, NY, it is important to be aware of the steps you need to take in order to settle the estate as soon as possible.
The good news is that you don't have to go through this process alone.
The team at Seaman Norris LLP has extensive experience with estate administration in Niagara Falls, NY, and can help you navigate the process. We give our undivided personal attention to every case, be it estate planning or probate.
On this page, you will find resources and information on what needs to be done in order to settle an estate. This page will also provide guidance on how to deal with common issues that may arise during estate administration. With the help of an expert on local estate law and the probate process, you can be certain that your loved one's estate will be settled according to their wishes.
To be general, estate administration involves collecting and distributing the assets of a deceased person, as well as paying any debts or fees owed by the estate. However, the specific steps in this process can vary depending on numerous factors, including the size and complexity of the estate and whether there was a proper will in place before the decedent died.
The estate administration process typically lasts for several months and may even take years to gather information about the estate, file necessary court documents, notify creditors, pay off debts, and distribute remaining assets to beneficiaries. Fortunately, the lawyers and attorneys at Seaman Norris LLP can handle all of these tasks for you and guide you through the entire process with ease.
First off, in order to file probate, a series of documents will need to be collected. Documents such as the will, death certificate, and letters of appointment are all necessary to begin the probate process. Hiring a probate attorney, like the team at Seaman Norris LLP, can make this process much easier, as they have experience in collecting and filing all necessary documents with countless other clients in Niagara Falls.
During probate, the court will appoint an executor or administrator to manage the estate. They will be responsible for identifying and notifying creditors, paying off debts, resolving any disputes that may come up about the estate, and distributing the remaining assets to beneficiaries according to the terms of the will.
The probate process also involves the executor of the will having to create an inventory of the deceased person's assets, notify creditors and pay debts, and distribute the remaining assets to beneficiaries according to the terms of the will.
If you're a Niagara falls resident who is in the process of estate administration or probate, you may be wondering about New York estate taxes.
Currently, estate taxes are only applicable if the decedent's estate is valued at more than $6.11 million. If the estate is worth more than $12.06 million, a separate tax is imposed on the federal level, so it's best to consult with an experienced estate lawyer to ensure that every tax law is properly understood.
Finally, estates are responsible for paying any federal estate taxes that may be due (previously noted), as well as any other state-level estate taxes to inheritance taxes that may be applicable. New York state doesn't charge inheritance tax fees, though to keep up to date on your current state's policy, we've provided a link below to an updated list.
If you have any questions about your specific situation, we encourage you to speak with an experienced probate attorney who can provide guidance and assistance.
Estate assets are distributed according to the terms of the will, with any remaining assets distributed according to state intestacy laws if there is no valid will in place. New York State laws may differ from other states, so to be certain on New York's current policy on state laws, we've provided a link to the NY government intestacy info.
Before distribution can begin, the assets must be properly appraised. This can involve appraising real estate property, collecting statements for bank accounts and investments, and determining the value of personal belongings.
Seaman Norris LLP is here to aid residents of Niagara Falls with their estate and probate issues when they need it the most. With only your best interests in mind, our estate and probate lawyers help with everything from drafting wills, to determining estate fees, and distributing assets dutifully.
Providing our clients with professional guidance through the estate administration process is our top priority, as we believe no one should be left alone or in the dark when confronting estate and probate legal matters. Reach out to Seaman Norris LLP today for a free consultation on your case or to see how we can help you with related practice areas.
The probate lawyers and attorneys at Seaman Norris LLP only hope to make the estate planning and probate process as simple as possible for the clients and residents of Niagara Falls. For the sake of increasing the accessibility of information on local courts in Niagara Falls, we've supplied a list of links to local courts and regional government sites below:
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