New York City Estate Administration Attorney
An experienced estate attorney is essential to ensure timely and efficient administration of any estate involving significant property, regardless of whether the deceased left a will. For over 40 years, William A. Simon has represented people in probate and estate administration matters in New York. He will work with you to make certain that all debts and any taxes due are paid, claims are settled in the most advantageous ways, all deadlines are met and your loved one’s assets are administered and distributed properly.
He will guide the designated estate executor or administrator through the often confusing process of estate administration, which involves the following:
- Probate of a will or appointment of an administrator
- Collection of assets and determination of their value
- Payment of debts and administration expenses
- Payment of estate taxes
- Audits of estate tax returns
- Accounting to the beneficiaries of the estate
- Distribution of the estate
- Estate litigation
Mr. Simon considers personal attention to his clients to be the most important factor in meeting their needs.
Distinctly Attentive To Your Legal Needs
Attorney Simon takes all of the time necessary to listen to your situation. When you have questions or concerns during the proceedings, he answers them directly. Cases are not delegated to a junior lawyer, and any work performed by paralegals is directly supervised by him.
Mr. Simon’s knowledge of estate and probate law is extensive. He keeps up to date with the frequent changes in the laws and court precedents affecting estate administration and taxation. When he takes your case, you can rest assured that all deadlines will be properly followed, all necessary steps will be taken, and your rights will be protected.
Frequently Asked Estate Administration Questions
Estate administration can be complicated, and you likely have questions about it. Attorney Simon believes in providing his clients with as much helpful information as possible. Below are a few common questions from his clients.
What are the benefits of hiring an attorney for estate administration?
Simply put, the average person is not familiar with the process of estate administration and it is far too easy to make critical mistakes. An attorney can provide precise information about the legal requirements, procedures that have to be followed and paperwork that must be filed, which makes it easier to remain compliant and avoid pitfalls.
In addition, working with an estate administration lawyer includes the following benefits:
- Efficient handling of complex matters: Large and complex estates can involve numerous types of assets, debts and taxes. The potential for disputes amongst the beneficiaries and heirs is always high. A skilled attorney can often anticipate problems and navigate situations as they arise with ease.
- Minimization of errors and delays: There is a lot of paperwork involved in estate administration and timelines that have to be followed. Errors can lead to delays and legal challenges, but an experienced attorney can make certain the estate is settled as quickly and easily as possible.
- Tax planning and compliance: Certain financial strategies have the potential to reduce the tax burden on the estate or its beneficiaries, and an attorney can help investigate those and make sure that all tax laws are followed.
- Asset protection: Executors and administrators can be held personally responsible for assets that are lost or damaged through errors. An attorney can offer guidance on the proper management and distribution of the assets so that there is no liability.
- Dispute resolution: Sometimes, no matter what an executor does, conflicts between beneficiaries or claims against the estate still arise. An attorney can negotiate with the parties involved and try to resolve the disputes fairly. When negotiations fail, an attorney is best equipped to represent the estate (or the executor) in court.
Overall, hiring an attorney can streamline the entire estate administration process, reducing the burden on the executor or administrator significantly.
Is it legal for an estate executor to also be a beneficiary?
Yes. In fact, many people choose beneficiaries who are also direct descendants – their adult children – as estate executors. Unless the children have been disinherited, they will expect some of the estate to go to them. A beneficiary in this position needs to be sure to follow the law and the regulations for the estate in their role as executor.
What are some “red flags” that an executor isn’t carrying out their responsibilities?
In some cases, an executor may miss certain deadlines, such as failing to pay property taxes or failing to distribute copies of the will. It is a serious red flag if the administrator removes assets from the estate. They are supposed to take an inventory of the assets in the estate, but those assets should then be distributed in accordance with the will.
When can an executor be removed from administering an estate?
It is sometimes possible to remove an executor from their position. This may be done if there is clear evidence of fraud or theft, or if it appears that the executor is illegally taking items – or financial assets – for their own purposes. Even if there is no evidence of fraud, it may be necessary to remove an executor who is careless, negligent or just incompetent and unable to perform their duties as expected. Missing deadlines, failing to make payments and generally mismanaging administration duties are grounds to remove an executor.
Speak With William A. Simon Today
Contact the law firm of McGarry & Simon at 212-235-1898 to schedule a free initial consultation about estate administration and probate.