New Yorkers will undoubtedly have a great deal on their plate when a loved one dies. Between the emotional impact and the need to plan for a funeral, many will believe that legal issues should take a backseat. However, while grieving is unavoidable and a natural human response, it remains necessary to maintain vigilance and prepare for probate. Often, people will forget the importance of navigating the decedent’s finances. This can lead to mistakes that can be costly. Having legal assistance with probate administration is essential.
Probate administration is critical whether the decedent had a will or not. When the person died intestate, it becomes even more critical to have legal advice. There are laws in New York when a person died without a will. Along with that will be the debts the person had accrued and need to be paid. There will also be the assets that will be distributed to family members.
A probate administrator will frequently have the responsibility thrust upon them. This can make it difficult to understand various duties to the estate and how to protect their own interests. Probate and an estate plan will work hand in hand when the person has a valid will. The person who is designated to oversee the process will pay off the debts and distribute the assets. When the person has died intestate, the law will be a bigger part of the process.
Whether the person has a significant portfolio, was of lesser means, or was somewhere in between, probate administration is a major role after the person’s death. While it is advisable to have a comprehensive estate plan in all circumstances, not everyone follows that advice. If they did or did not, the administrator should have legal protection. A law firm that specializes in estate administration in general and, specifically, probate administration can be of great help in these situations. Calling for a consultation is key and should be done immediately.