Administration of Estates
Our New York Elder Law Attorneys Work to Protect You From Fiduciary Liability
Whether you are a named executor in a last will and testament, court-appointed administrator, or petitioning for voluntary administration, you now face a daunting task. Maintaining legal accountability and carrying our your fiduciary responsibilities while grieving the loss of a loved one can be a challenging commission.
Pfeifer & Choi’s reputable New York Elder Law lawyers can provide the skilled legal representation you need to tackle the duties of administrating an estate. Our team of compassionate and insightful attorneys and professionals can provide the counsel you need to smoothly and efficiently navigate through the estate settlement process.
Managing an Estate
The responsibility of managing an estate requires a high level of care to fulfill the obligations to its beneficiaries and creditors. Wills and trusts both necessitate proper and judicious administration. There are three ways an individual may be called upon to oversee the distribution of an estate:
- Named executor: Once a will is determined to be valid by a Surrogate Court, the individual designated in the document can commence administrating the estate.
- Court-appointed administrator: If an individual dies without a valid will (intestate) the court will appoint an individual to oversee the distribution of the estate.
- Voluntary administration: Also referred to as Small Estate administration. In New York, this is a simplified process available generally to estates valued at $30,000 or less. The administrator may be either a named executor or a court-appointed person.
Whatever the method you have been designated to manage an estate, our skilled lawyers can provide the advice and guidance you will need to effectively perform your legal duties.
Pfeifer & Choi lawyers and professionals can assist with numerous aspects of an estate administration process, including but not limited to:
- Inventory and appraisal of assets
- Drafting of court petitions
- Notification of creditors and payment of debts
- Notification of beneficiaries
- Asset distribution
- Financial documentation
Protect Yourself and the Estate
If you have been called upon to manage an estate, you have been assigned to be a personal representative of the decedent’s estate. As an executor or administrator, you are legally required to protect the wishes of the deceased and the viability of the estate. Failure to do so can result in numerous legal complications including personal liability.
Our team of skilled Elder Law attorneys can help you protect yourself as well as the estate. Having insightful legal counsel can be the most effective way to shield the estate and you from unnecessary legal liability. Pfeifer & Choi’s team of highly respected attorneys and professionals can be by your side through every step of the estate administration process. Safeguarding the decedent’s wishes, as well as your legal obligations are our primary concerns.