Administration is a term used when a person dies without a Last Will and Testament. This involves a person who has the legal standing to seek the appointment to be the Estate’s representative in order to manage and distribute the deceased person’s assets according to the Laws of the State of New York.
Probate is a term used when a person dies with a Last Will and Testemant. In this scenario, the named Exeuctor/rix seeks to be appointed as the Estate representative, requesting the Court admit that Will to Probate and then the Executor/rix has the authority to marshall and distribute the assets of the deceased according to the terms of the Will.
The threshold in New York Surrogates Court is $50,000 or more. This threshold applies to all assets held solely in the deceased name.
It can be bank accounts, real estate, or what have you. However, certain assets that have named beneficiaries or that are jointly held are not included. Every case is unique, so it is best to seek a consultation with an estate/probate attorney who can provide you with tailored advice specific to your scenario.
Dealing with the loss of a loved one is difficult. It’s important to have proper legal guidance when dealing with the loss of a loved one. Treglia Law offers assistance with probate administration and estate processes, ensuring that your loved one’s wishes are properly administered and distributed. Elisa works closely with clients to navigate the legal aspects of the probate process and provide support during this difficult time.