Losing a loved one is an emotionally difficult time. If you are dealing with grief while also managing your lost loved one’s finances and possessions, you may find it to be an overwhelming experience. The many months and requirements of the probate process in Staten Island can be difficult to manage alone.
A diligent probate attorney could provide critical legal support and manage the requirements and requests of the probate court on your behalf. At The Law Offices of Louis P. Lepore, we shed light on this complex process, helping you manage your loved one’s final affairs and wishes.
If a person dies with or without a will, their estate will usually need to go through a legal process known as probate. The purpose of probate is to ensure that the person’s assets are distributed to the correct person under the law and their last will and testament.
The Staten Island probate process typically involves:
The executor must ensure that all legal requirements of probate are met in a timely manner. A lawyer could help ensure these deadlines are met and legal duties are fulfilled.
Probate is not always required. Only estates valued over $50,000, not counting non-probate assets, must pass through formal probate.
Non-probate assets include investment accounts like IRAs and 401(k)s, life insurance policies, and jointly held bank accounts. These assets will usually pass directly to the named beneficiary or joint owner. If the deceased person’s assets were held in trust, these assets may also bypass probate.
Furthermore, some assets are exempt under state law for the “benefit of family.” Per N.Y. EPT § 5-3.1, certain assets pass directly to the surviving spouse and children under the age of 21 unless disposed of by a legitimate will. These assets include things like household items, books, and personal effects.
If a person passes without a will, this is called passing “intestate.” The family and their probate lawyer must rely on the laws governing the probate process and inheritance in Staten Island. In these situations, the Surrogate Court will oversee the administration of the estate.
During these estate administrations, the court assigns an administrator who then distributes any assets per the rules of intestate succession. This means the decedent’s assets will pass to their next of kin, typically the surviving spouse and any children. A lawyer could help identify any intestate heirs and assist with administration.
The probate process in Staten Island can be challenging for families to navigate without experienced legal support. An experienced and empathetic probate lawyer could assist you during probate and estate administration.
At The Law Offices of Louis P. Lepore, we understand that managing probate can be overwhelming and challenging for those unfamiliar with the process. We help families confidently navigate the probate process, allowing them time to grieve and the ability to respect their loved one’s wishes. If you have questions or need assistance, call us today.
(718) 354-8646