Understanding The Difference Between Probate & Estate Administration
In New York, there are two processes for settling a decedent’s estate. If the decedent left a will, the surrogate court probates the will, meaning that it rules on the will’s validity and approves an executor to settle debts and distribute assets according to the terms of the will. Mr. McEnery often serves as executor for clients whose wills he has prepared.
When a person dies without a will, i.e. intestate, the surrogate court must approve an estate administrator whom the known heirs select. The administrator has several duties to fulfill:
- Settle creditor claims against the estate
- Collect any debts owed to the decedent
- Locate beneficiaries
- Settle all federal, state and estate taxes the estate owes
- Administer guardianships for minor children and dependent adults
- Execute deed transfers of real estate
- Mediate disputes among beneficiaries
When selecting an estate planning attorney to administer your loved ones’ estate, you should consider that person’s experience, reputation for integrity and the ease with which the attorney communicates, giving you the answers you need.
Overcoming Obstacles To A Timely Estate Settlement
The goal of probate and estate administration is to settle the decedent’s estate while avoiding unnecessary delays and expenses that eat away at the estate’s value. Since no two estates are identical, it’s impossible to say with certainty how long the process might take. Factors that delay settlement include:
- Lack of organization within the decedent’s estate
- Litigation with the estate’s creditors and debtors
- In-fighting among family members
- Will contests from disappointed heirs
Our firm understands that heirs often depend on assets that are frozen during proceedings, so we work diligently to overcome any impediments to settlement. For thorough, ethical probate and estate administration, contact our law firm.