The eastern end of New York State, Long Island, shares its borders with the Atlantic Ocean. The Long Island probate law is not in contrast with the law of the United States. Yet, Long Island does have its separate set of rules and regulations. You can speak to a Long Island probate lawyer for a piece of legal advice.
Long Island Probate Lawyer Can Explain Probate
If you are not a resident of New York, it could be challenging to comprehend the probate legalities. Before you take the plunge in probate, it is better to be equipped with necessary information about probate, rather than be lost amid chaos. You can rope in some information from friends living in New York. In the absence of friends, you may be assuming that a visit to Google would answer all your queries related to probate.
However, if you are genuinely interested in acquiring bona fide probate details, relying on undependable sources could be hazardous. Like they say, ‘Little knowledge could be dangerous.’ It would be best to contact only a Long Island probate lawyer to explain the legal terms pertaining to the probate process at length.
Though people wish to rest in peace after death, peace comes only after completing the legal process. Probate is the legal procedure to validate the will of the deceased or distribution of estate lawfully in the absence of a will. Probate administration deals with issues, such as –
- Identification of the deceased assets
- Validation of the will
- Intimating the financial creditors to file claims, if any
- Transfer estate to the beneficiary as per the state law or deceased’s last will
- Payment of state taxes and estate debts, and so on
Long Island probate law allows creditors seven months to apply for their claims. Thus, the probate process could stretch up to eight or nine months in a regular course.
However, if anybody contests the will, the probate can linger on to a year or more. The beneficiaries have no choice but to wait to receive their inheritance. During this duration, the litigation cost shoots up, causing inconvenience to the beneficiary.
Long Island Probate Lawyer Provides Alternatives
A probate process is a rather unpleasant experience. However, a session with a Long Island probate lawyer can ease the distressing procedures. A probate attorney will familiarize you with the law that governs the estate planning. Furthermore, you will learn how you can avoid the probate process.
Moreover, the presence of a will resolves a lot of issues. The court carries out the distribution of the estate as directed by the deceased’s will. However, the absence of a will creates unnecessary confusion.
Furthermore, as per the Long Island administration, a small estate can forgo the probate process or choose voluntary administration proceeding. In some cases, an estate’s value of less than $30,000 in joined ownership could be eligible for small estate administration.
The case of a small estate can be transferred to a Surrogate Court. Furthermore, a voluntary administrator is appointed either from the family or outside. Initially, the assets are identified, documented, and then distributed according to the law.
Is Probate Mandatory in Long Island?
Whether the probate can be avoided depends upon the fact that the deceased has prepared proper estate planning. Furthermore, a non-probate asset is a factor that determines that probate process is needless The non-probate assets, such as –
- Assets placed under a trust
- Assets under TOD Deed
- Retirement account
- Assets under Right of Survivorship
- Pension account
- Life insurance returns
If the assets fall in any of the above categories, a Long Island probate lawyer can help you miss the tiring probate process. It is always best to build a robust estate plan during your lifetime to save your loved beneficiary from the probate trouble. However, it would help if you always took guidance from a legally literate professional, so that you do not use the trust for personal benefit. The Long Island court considers trust for personal benefits as malpractice and illegal.
You may be aware that each court case is treated differently. Moreover, each state treats each probate case as per its administration and jurisdiction. In legal matters, it is always best to check if your actions are in tune with that particular state’s law. You know you are in safe hands if you are with a Long Island probate lawyer to attend legal matters in Long Island explicitly.