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Probate is a process which validates and pronounces Last Will and Testament of Individual as valid and effective for purposes of estate administration and asset distribution.<br>If you have had a loved one pass away recently, you may have found that their Will has to pass through probate court before debts of the decedent ?may be paid and the remaining assets of the decedent may be distributed to the beneficiaries. Depending on the size and complexity of the estate itself, this process can take anywhere from few weeks to several years. If you are a beneficiary of the estate, or involved in it in any other way, it is important to understand what to expect and to have the help you need.<br>Probate process includes several steps. This will provide you with an outline of what to expect while this event is taking place.<br>u2022tPetition u2013 When an original Will of the decedent is discovered by the surviving spouse or children, the probate process will begin by filing a probate petition with the probate court. When this occurs, all heirs and beneficiaries must also be notified that a court hearing will take place. If at a later point later Will is discovered by someone else or if there are allegations of the fraudulent activity, the actual Will or a Will produced under undue influence, the objection to probate will be filed with the court and this will lead to a hearing.<br>u2022tNotifying Creditors u2013 New York has laws on how creditors are notified of the decedentu2019s death and how such creditors must go about presenting claims to the executor. The estate fiduciary has an obligation to dispute all claims, except properly owed, legally enforceable obligations.<br>u2022tInventory & Valuation u2013 All assets within the estate need to be identified and their value must be established using prescribed methods of valuation. This will be handled by the representative of the estate, Executor or Administrator.<br>u2022tDistribution of Assets u2013 Once all debts have been paid, all remaining assets will be distributed to the beneficiaries of the estate or trusts will be funded. This is done according to the provisions of the Will or Revocable Trust, if there is one.<br>
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Probate Contact Address: 320 E 69th St New York, NY 10021 Phone: (212) 292-3851 Website URL: https://probatenewyorkattorneys.com/ About US Probate is a process which validates and pronounces Last Will and Testament of Individual as valid and effective for purposes of estate administration and asset distribution. If you have had a loved one pass away recently, you may have found that their Will has to pass through probate court before debts of the decedent ?may be paid and the remaining assets of the decedent may be distributed to the beneficiaries. Depending on the size and complexity of the estate itself, this process can take anywhere from few weeks to several years. If you are a beneficiary of the estate, or involved in it in any other way, it is important to understand what to expect and to have the help you need. Probate process includes several steps. This will provide you with an outline of what to expect while this event is taking place. • Petition– When an original Will of the decedent is discovered by the surviving spouse or children, the probate process will begin by filing a probate petition with the probate court. When this occurs, all heirs and beneficiaries must also be notified that a court hearing will take place. If at a later point later Will is discovered by someone else or if there are allegations of the fraudulent activity, the actual Will or a Will produced under undue influence, the objection to probate will be filed with the court and this will lead to a hearing. • Notifying Creditors– New York has laws on how creditors are notified of the decedent’s death and how such creditors must go about presenting claims to the executor. The estate fiduciary has an obligation to dispute all claims, except properly owed, legally enforceable obligations. • Inventory & Valuation– All assets within the estate need to be identified and their value must be established using prescribed methods of valuation. This will be handled by the representative of the estate, Executor or Administrator. • Distribution of Assets– Once all debts have been paid, all remaining assets will be distributed to the beneficiaries of the estate or trusts will be funded. This is done according to the provisions of the Will or Revocable Trust, if there is one. Related Searches Probate | Probate Attorney | Probate Lawyer | Estate Planning | Estate Planning Lawyer | Estate Planning Attorney | Trusts and Estates | Trusts and Estates Lawyer | Trusts and Estates Attorney | Will Lawyer | Will Attorney | last will and testament lawyer | last will and testament attorney | wills and probate | retirement planning attorney | retirement planning lawyer | asset protection lawyer | asset protection attorney | wills and trusts attorney | wills and trusts lawyer | Elder law attorney | Elder law lawyer | special needs trust attorney | special needs trust lawyer | Medicaid trust | Living Trust | Irrevocable trust | Revocable Trust | Charitable Trust | New York City | Manhattan | New York | NY. Additional Details Hours: 9 am - 9 pm every day Payment Method: All cc, cash
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