Planning for the future includes making sure that your loved ones and your property are taken care of after you’re gone. Making a will is a crucial step to ensure that your assets are distributed to the right people and that any underage children have an adequate guardian lined up.

The process of estate settlement in New York is handled through the Surrogate's Courts, which are represented in each county. It's a good idea to understand how this process works so you can make sure your wishes are carried out in full. Gaining a basic knowledge of the Surrogate's Court proceedings can also prepare you if you are ever named as an estate executor or a beneficiary in someone else's estate.

What Is the Role of a Surrogate's Court?

In New York, a Surrogate's Court handles all actions relating to a deceased individual's estate. They also oversee any debates over the contents of a provided will. Surrogate's Court holds jurisdiction over the following:

• Probate of wills
• Disputed claims
• Administration of estates
• Accounting
• Discovery proceedings
• Settlement of wrongful death claims
• Adoptions and guardianship of children under 18 and incapacitated adults

Each county has its court to streamline this process and all petitions should be filed in the county where the deceased was living at the time of their death. Filing the petition and conducting the settlement of the estate within the right county makes it easier to adhere to all requirements and avoid missing a crucial task.

How Do Proceedings Begin?

All court proceedings involving wills and estates are begun by filing a petition in the County Surrogate's Court. If the deceased left a valid will, named a personal representative to execute their wishes, and has a large and/or complicated estate, the probate process begins. This involves several steps:

• The named executor files a probate petition along with the appropriate paperwork

• The executor gives notice to creditors and beneficiaries

• The executor then conducts an inventory of assets and gets their value appraised

• Any bills, debts, and taxes generated by the estate must be paid

• The executor is in charge of distributing the remaining assets to the named recipients

• The estate is closed once final records and receipts are submitted to the court

If an individual dies intestate, meaning they did not leave behind a will, an administration process is followed. In these cases, the court will name an administrator to identify and notify any eligible beneficiaries of the assets left behind after bills, taxes, and fees are paid. The closest living relatives of the deceased are generally named as the beneficiaries, following specific succession laws.

Dying intestate can create several problems: You risk losing control of who your assets are given to, since the court follows succession laws as opposed to your individual wishes. It's especially important to leave behind a will if you have children. If you fail to name a preferred guardian, the courts will assign guardianship to anyone they deem fit.

Are There Fees Involved?

The fees required to file a petition depend largely on the total value of the estate. Smaller estates of less than $10,000 cost $45. More extensive estates of $500,000 or more cost $1,250. There are additional fees assigned for various services and for filing paperwork as needed for each unique situation.

You can make the estate settlement process easier on your loved ones, and ensure that your wishes are carried out in full, by taking action now and creating a valid will. You must follow New York law so that the will is legal and cannot be contested. You can write and update a will on your own as long as it is signed by yourself and two witnesses. If your estate is large and your final wishes are more complex, you may benefit from using an experienced partner like ClearEstate to help you create a tailored estate plan. Questions? Get in touch with us today for a free consultation on how to create an expert estate plan.

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