PROBATE: What Everyone Should Know, Part 2

In Part 1 of this Article, we addressed what happens to a person’s property after death and how a Personal Representative is appointed. We also examined the duties of the Personal Representative. In Part 2 we discuss the difference between Probate and Non-probate property, and address the Probate process from initial filing to the final accounting and distribution of assets.

What is Probate? Continue reading

PROBATE: What Everyone Should Know, Part 1

What Happens to Property After Death? 

You don’t have to be wealthy to have an estate. When someone dies, the property they own—whether it is real property or personal property—is said to be their “estate”. A Personal Representative will be appointed by the Court to administer the estate. In New York, that court is the Surrogate’s Court and there is one in each county. The proper County for filing is the County the decedent called their domicile. However, if the decedent owned real estate elsewhere, for example, a Florida condominium, a second procedure, called ancillary probate, will have to be commenced in that state as well. Most states have a streamlined process for ancillary probate. Continue reading