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706 - the estate tax return - must be will be required for a variety of
filed within nine months of the death purposes, and so we advise our clients
of the decedent (or within the six to obtain several extra copies. The
months extension window if one is executor will need these certificates
timely applied for). in order to transfer title to any assets
(i.e. funds in bank accounts, sell real
The probate or administration estate), and to open the estate bank
processes are formal judicial account.
proceedings which take place in the
decedent’s county’s Surrogate Court. TIP: If you are the fiduciary of a
If you are the nominated executor, loved one’s estate, check the office
or a person eligible to serve as of unclaimed funds via the New York
administrator, you should consult State Comptroller’s website to see
with your attorney and provide the whether the decedent is entitled to
information and documents listed any “unclaimed funds”.
above. Your attorney will prepare the
petition for probate or administration. Once the executor or administrator
Filing fees are paid on a sliding scale has located and gathered all of
depending on the size of the estate. the assets of the decedent, they
will manage the funds in a prudent
Under New York State law, certain manner, pay off the decedent’s debts
people are entitled to notice of the and distribute the funds as per the
probate or administration of the estate terms of the decedent’s will, or else
- namely the beneficiaries, fiduciaries, as per the laws of intestacy of the
and “heirs at law” of the decedent. State of New York.
The probate or administration process
will be substantially simplified if For purposes of brevity, we
these individuals consent to the have substantially simplified
relief requested in the probate or the description of the probate
administration petition, and waive or administration process. The
the issuance of formal process. This proceedings can be lengthy, and
will be the case where there are no may involved hard-fought litigation,
objections to the appointment of the especially in the case of distant heirs,
name fiduciary or applicant, and there or family disputes. There are many
are no objections to the disposition subtle nuances to each situation,
of assets provided for in the will. If and so it is advisable to meet with an
the persons entitled to notice do not experienced attorney to discuss the
consent to the relief requested in best way to proceed, and to guide
the petition and waive the issuance you in your decision making process.
of formal process, then the Court
will issue a “citation” to appear in We hope that this article has been
Court on a certain day, and each non- informative and useful to you. If you
consenting person must be formally have any questions or would like
served in accordance with New York clarification on any of the above
State law. points, please do not hesitate to
contact Belford & Nornes LLP at 631
Presuming the administration or 665 4400.
probate petition is accepted, the
executor or administrator will receive
their letters testamentary from the
Surrogate’s Court. Original certificates
Overton Funeral Home, Inc. - Page 35
