Do All Estates Have to Go Through Probate in New York?

From a Probate Lawyer in Forest Hill, NY: Determining Whether Your Estate Needs to Go Through Probate

Asset Ownership

You do not have to probate assets that pass automatically to a beneficiary or joint owner. Property titled as joint tenancy with rights of survivorship, or as tenants by the entirety (used for married couples), transfers directly to the surviving co-owner. 

Similarly, accounts that have designated beneficiaries, such as payable-on-death (POD) bank accounts, transfer-on-death (TOD) securities, and life insurance policies, do not become part of the probate estate. In these cases, the beneficiaries can claim the asset by submitting a death certificate and other required documentation directly to the institution holding the asset.

Small Estate Administration in New York

New York offers a simplified procedure called Voluntary Administration for small estates. If the decedent’s personal property is valued at $50,000 or less and there is no real estate solely in their name, you may be able to avoid formal probate. The alternative legal process is quicker and less expensive than full probate. You must still file paperwork with the court, but you can manage the estate without all the complexities of a full probate proceeding.

Understanding Estates Without a Will and Intestate Administration

If a person dies without a will in New York, their estate does not avoid court oversight. Instead of probate, the estate goes through intestate administration. You still have to file with the Surrogate’s Court, but the court appoints an administrator rather than an executor. You must follow New York’s intestacy laws, which dictate how to distribute the estate among surviving relatives. 

Determining When Real Estate Requires Probate

Though there are many legal avenues to avoid probate, it may not always be possible. Real estate titled only in the decedent’s name generally requires probate, even if the total estate value is modest. If the property is not jointly owned or does not have a beneficiary deed, then you must open a probate proceeding to transfer legal title to heirs or beneficiaries.

Despite what your case may look like, you do not always have to go through probate in New York. Our team can help you explore all options to keep property out of probate and ensure all filings are done correctly. Schedule a consultation with us today at DeCandido & Azachi in Forest Hills, NY to understand how state law treats different types of assets and how to avoid unnecessary delays in the lawful distribution of your or a loved one’s property. We also serve Plano, TX.

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