Navigating the probate process in New York State can be a complex and nuanced process. The professional executor fee (or “commission”) is set by New York State law and is between 2% and 5% of the value of the inheritance. The Law Office of Inna Fershteyn has established itself as a leading law firm when it comes to helping clients understand and manage the probate process. Although New York's probate laws do not have a specific time frame for this to be done, they request that it be done in a timely manner.
The simplest and most direct way to bypass the probate process is to create a living trust. This comprehensive probate guide will help you answer your questions so you're ready to navigate the New York probate process like a pro. As a general rule, if the house is part of the estate, you should not take anything out of it. To legalize a will in Kings County or New York substitute court, it will cost you between 5 and 7% of the value of your estate.
If you are managing the probate process on your own, you will need to be prepared to file the correct documentation and have the records related to the estate on hand if the court requests it. If you hired a lawyer, he could handle the ins and outs of probate court and know what documentation you'll need to file. Choosing a professional executor assures everyone that the entire probate process (not just the parties to the court) is being done the right way. Because there are several benefits to selling a home in probate, it's definitely worth looking into it rather than keeping an inherited property that you'll have to maintain.
Succession is the process of proving the validity of the deceased's Last Will in Surrogacy Court. That goes without saying that most probate matters are challenging, and it would be best to have an experienced probate attorney handle your case. An executor named in a will or a court-appointed trustee will be responsible for overseeing the probate process. I'm sure you've tried searching online and haven't been able to find much information about probate attorney fees. Since selling a home in succession is a unique situation that most buyers don't understand, working with a buyer like Leave The Key Homebuyers, who knows the process, can make a big difference.
