A last will and testament should protect the interests of the heirs and beneficiaries of the testator. However, when the testator dies, they no longer have control of the estate administration process. They are not there to verify whether the estate administrator or...
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Estate Administration & Probate
How is an estate executor different from an administrator?
The estate of an individual comprises all their assets and liabilities. When a person creates a last will and testament, they appoint an executor to manage the estate and distribute it to the designated beneficiaries according to their explicit instructions. However,...
What happens if the estate is not enough to pay creditors?
Even after an estate owner dies, their debts and liabilities continue to exist. This is where probate and estate administration comes in. The state executor will pay the decedent’s liabilities before distributing the remaining assets to the heirs and beneficiaries....
Signs your trustee breached fiduciary duty
A breach in fiduciary duty would mean either the trustee has overstepped their authority and/or failed to act in the best interests of the beneficiaries. If there has been suspicious activity concerning the management of your trust, you may want to investigate the...
Are estate executors and trustees the same?
When a person passes, they leave behind all their money, assets, debt and property. Together these make up the estate of an individual. In New York, an executor and trustee are essentially the same in that an owner of an estate gives them the fiduciary duty to manage...
Contesting a will on the basis of undue influence
When someone in New York drafts a will and then passes away, there are certain grounds under which someone might challenge the will’s contents. “Undue influence” is a legal concept that someone people cite when challenging a will, which, in simple terms, means someone...
Is a family member the best choice for executor?
When choosing an executor for your estate, you may lean toward a family member above all else. After all, who knows you better than your family? Unfortunately, a familiarity with you is not the only skill that an executor needs, though. In fact, your executor needs a...
FAQs about estate administrators
Estate administration can be complex. Here is some information on estate administrators. Specifically, here is who can be one and what they do. Must the administrator be a legal representative? The administrator does not have to be a legal representative. However, the...
Important considerations when becoming an estate executor
If friends and family see you as competent and honest, they could reach out to you to serve as an executor of an estate. While this position has a certain level of prestige, you should carefully consider all aspects of the job. Depending on the situation, you might...
What is administration in New York?
If a loved one dies without a will, the estate will go through a process called administration. The court will step in to handle important aspects, such as appointing someone to be in charge of distributing assets. You can file for administration if you are the...