New York Estate Administration Services From a Reputable Law Firm
The estate administration team at GREENFIELD STEIN & SENIOR, LLP, assists clients in the administration of an estate from the time of death until final accounting and settlement. Our law firm was founded in Manhattan in 1930, and we have long been known as leaders in wills and trusts law.
Our estate administration services are guided by the lessons learned by our estate planning attorneys and estate litigation lawyers. Our goal in estate administration is to guide an estate through Surrogate's Court as efficiently as possible. Because of our whole-perspective approach to estate-related legal services, we can recognize early signs that conflicts may arise. Our attorneys also have the experience necessary to conduct estate administration so that as high a percentage as possible of the estate is maintained for the beneficiaries - as opposed to being distributed to creditors and taxation authorities. Contact an estate administration lawyer at GREENFIELD STEIN & SENIOR, LLP, for more information about the estate administration process in New York.
The Estate Administration Process in New York Surrogate's Court
Our lawyers begin by handling probate of a will in Surrogate's 's Court, or by filing an administration proceeding if there is no will.
The second major task in estate administration is to gather, inventory, and value the assets of the estate. These assets may include real estate, personal effects, insurance, bank accounts, stocks and bonds, and other investments. Unless these assets are jointly owned or have a named beneficiary, they make up the probate estate, and it is from these assets that the debts of the person who has died and the administration expenses of the estate must be paid.
An executor or administrator must evaluate all claims made against the estate and pay legitimate debts. If there is a question about the validity of a claim, it may end up in a claims proceeding in estate litigation in Surrogate's Court.
Depending on the size of the estate, the assets and liabilities may need to be reported on a federal estate tax return and a New York estate tax return. Other required paperwork can include a fiduciary final accounting of the distribution of an estate.
There also will be decisions about management of an estate that will need to be made after the fact, including timing of distributions, tax elections, and allocation of tax exemptions. GREENFIELD STEIN & SENIOR, LLP, provides full-service guidance and advice regarding all of these estate administration issues.
Contact an estate administration attorney at GREENFIELD STEIN & SENIOR, LLP, to schedule an appointment at our midtown Manhattan office.
