Frequently Asked Questions

1. What is Probate?

Probate is the legal process of reviewing and validating a will, as well as administering the deceased person's estate.

2. What is Intestate?

Intestate refers to when a person dies without a will.

3. What is Estate Administration?

Estate Administration occurs when someone dies intestate, and the court decides on the distribution of the estate assets.

4. Executor vs. Estate Administrator: What's the Difference?

• Executor: Named in the will to settle the estate, then permitted to serve by order of the court.
• Estate Administrator: Appointed by the court to settle the estate when there is no will or no executor is named.

5. What are Letters?

• Letters Testamentary: Certificate issued to an executor by the court, giving him/her permission to settle the estate.
• Letters of Administration: Certificate issued to an estate administrator by the court, giving him/her permission to settle the estate.

6. What is an Estate Administrator C.T.A.?

An estate administrator authorized to settle an estate where there is a will but no executor is named or the executor is unfit to serve.

7. Is Probate or Estate Administration Always Necessary?

Yes, to manage and distribute a decedent's assets, an administrative process is required.

8. How Much Does it Cost to File for Letters?

The cost depends on the estate's value. In New York, it ranges from $250 to $1,250 for estates valued at $50,000 or more or estates thaat include real estate owned by the decedent.

9. How Can I Avoid Probate and Estate Administration?

• Trusts: Transferring ownership of your assets to a trust avoids probate.
• Gifts:  Gifting all of your assets to other individuals or organizations before you die will leave your estate valued at $0 and no probate or administration would be necessary.
• Will: A valid will avoids estate administration but still requires probate, allowing you to decide asset distribution.

10. How Can I Access a decedent's Bank Account without probate or administration?

• POD (Pay On Death) or (In Trust For):  While alive, an account owner can sign this document at the bank so that the account becomes the property of the beneficiary upon death.  the beneficiary would only need to go into the bank with the death certificate, IDs, and bank card to access funds.
• Joint Account: A joint owner of an account or any other tangible asset becomes the sole owner once the other owner passes away.  No probate or administration is needed.