The probate process in New York is the legal procedure in which the assets of a person who is deceased gets distributed under court supervision. If the individual dies with a will the will will contain a clause naming an executor and if the executor is not available an alternative executor to supervise and control the probate process. If the individual dies without a will said individual’s spouse, a child or next of kin can bring an application to become the administrator of this deceased individual’s estate. Once appointed the executor or administrator of the estate has legal authority to organize, gather and value the assets of the decedent. In addition, he or she can pay bills, pay real estate taxes, federal and state income taxes and at the end of the estate process distribute the assets to the next of kin or the beneficiaries under the will.
Why Probate the Will?
The purpose of the probate process is to prevent fraud or improper actions regarding the assets of the decedent. It is the intent of the probate process to freeze the estate assets until a judge determines whether the will is a valid will and that all of the necessary individuals regarding the estate have been put on notice there are assets in the estate and they may have an interest in said assets. In addition, creditors must be notified and paid all taxes have to be paid before there can be distributions to the beneficiaries or the heirs of the estate.
Assets Not Part of the Estate
Bank accounts, investment accounts and other assets maintained in joint tenancy or in 
joint tenancy with rights of survivorship do not pass through the estate and/or probate process. In addition, accounts that have pay upon death designations or beneficiaries listed in them also do not pass through probate. Life insurance policies and most annuities are also dealt with outside the probate process.
Estate Problems
Should you have questions or issues regarding estate matters you can reach the law office of Schlissel DeCorpo LLP for a free consultation at any of our offices to discuss these problems. Our phone numbers are 516-561-6645, 718-350-2802 or 631-319-8262.
