ladidadi123
Junior Member
What is the name of your state (only U.S. law)? NY
Hi,
I am hoping to avoid the more complex probate procedure and be able to go with the simplified procedure. I believe in NY, the estate must be worth under $30k to go with a "Small Estate Affidavit" procedure. The estate I am dealing with is right on the border of above/below $30k so I'm not sure. Can somebody confirm this is the case based on the info provided below?
- I am named executor in the will.
- I am the sole beneficiary in the will so basically everything would go to me.
- There were several accounts totalling $50k that were left to me in ITF bank accounts so I believe those do not have to be factored into any probate or affidavit proceedings.
- What remains is worth about $35k BUT there are at least $10k in funeral expenses, remaining bills, etc. so I believe it brings it down to $25k. This is my main question - do I factor in expenses to see if I am above or below the $30k??
Also, does anybody know if there will be a problem if I dont know who the witnesses to the will are? I have their names + addresses on the will itself but I don't recognize who they are.
Thanks very much in advance for any help.
Hi,
I am hoping to avoid the more complex probate procedure and be able to go with the simplified procedure. I believe in NY, the estate must be worth under $30k to go with a "Small Estate Affidavit" procedure. The estate I am dealing with is right on the border of above/below $30k so I'm not sure. Can somebody confirm this is the case based on the info provided below?
- I am named executor in the will.
- I am the sole beneficiary in the will so basically everything would go to me.
- There were several accounts totalling $50k that were left to me in ITF bank accounts so I believe those do not have to be factored into any probate or affidavit proceedings.
- What remains is worth about $35k BUT there are at least $10k in funeral expenses, remaining bills, etc. so I believe it brings it down to $25k. This is my main question - do I factor in expenses to see if I am above or below the $30k??
Also, does anybody know if there will be a problem if I dont know who the witnesses to the will are? I have their names + addresses on the will itself but I don't recognize who they are.
Thanks very much in advance for any help.