Full question:
in new york state, if a person dies and has a last will & testament and the estate that is worth less than $20,000, is probate required by law
- Category: Wills and Estates
- Subcategory: Small Estates
- Date:
- State: New York
Answer:
In New York, probate is generally necessary for estates, but there is a simplified process for smaller estates. If the estate's value is $30,000 or less, a less formal procedure can be used, allowing heirs to obtain property without full probate. This small estate administration can occur regardless of whether there is a will.
To begin this process, an interested party can file a petition to become a voluntary administrator of the estate at any time after the decedent's death. The procedure is quicker and less costly than formal probate.
Key points include:
- The estate must be valued at $30,000 or less.
- A voluntary administrator can be appointed without the need for a bond.
- The administrator must file an affidavit and a certified copy of the death certificate with the court.
For more information on the specific statutes, refer to the New York Surrogate's Court Procedure Act, Article 13 (NY CLS SCPA § 1301).
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.