Manhattan probate and estate planning attorney Benjamin A. Goldburd, partner at Goldburd McCone LLP in New York, explains that probate is the court-supervised process of administering a deceased person’s estate. For more information please visit https://www.goldburdmccone.com
-- Estate Planning lawyer Benjamin A. Goldburd has given his professional insight into how a probate court works, enabling executors and relatives to understand better how the process unfolds.
For more information please visit https://www.goldburdmccone.com
Probate is the process by which the administration of a person’s estate is managed to completion once they have died. An executor will usually be cited in a will to act as the administrator of the probate process.
The New York-based attorney at Goldburd McCone, LLP said that the starting point is for an executor to apply to a probate court to formally begin the process.
Once the will is filed, the court will review it, determine its validity and rule on it. Once agreed upon, the court admits the will to probate, legally confirming it as valid and the guiding document on how a person’s assets should be distributed to beneficiaries.
It also gives the executor the legal power to act on behalf of the deceased, said Goldburd. This covers overseeing asset distribution, paying off any debts against the estate, and issuing a final personal income tax return on behalf of the deceased.
The executor will seek the probate court’s authorization to distribute any remaining assets to beneficiaries. The court’s role is to ensure the executor acted reasonably within the law and the obligations of the estate have been fulfilled. The court then officially closes the estate.
Goldburd said that when a person has died and failed to leave a will – otherwise called intestate – the probate court will effectively step in and appoint an administrator to manage the estate.
The administrator will face the same tasks as an executor and identify legal heirs to the estate. The probate court, Goldburd emphasized, will review the assets, who are the rightful heirs, and how these assets will be distributed.
He urged executors to seek professional advice from an estate planning attorney if unsure of the probate process.
“Understanding the process and what a probate court does ensures their time is spent efficiently and they can fulfill their responsibilities to the letter of the law,” Goldburd concluded.
Source: http://RecommendedExperts.biz
Contact Info:
Name: Benjamin A. Goldburd
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Organization: Goldburd McCone LLP
Address: 11 Broadway, Suite 1155, New York, NY 10004
Phone: (646) 663-8226
Website: https://www.goldburdmccone.com
Release ID: 89184813
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