Mullen and Iannarone, P.C.
Serving the legal needs of corporations, individuals and
families of Suffolk County since 1972

Probate & Trust Administration Archives

Responsibilities of an executor

New York residents who have been named as executor under a testator's will may wonder what will be involved in the process. An executor is responsible for identifying assets, paying debts and then distributing assets to beneficiaries. However, the nuts and bolts can be more complicated.

An overview of how probate works

Probate is an important issue for New York residents to consider as they prepare for end-of-life needs such as estate management. One's estate planning can result in certain actions being required or avoided based on the manner in which final wishes are formalized. Concerns may arise that probate could leave room for changes being made to one's wishes, making it important to evaluate options such as wills and living trusts.

Aspects of estate administration

Individuals in New York who are in the midst of estate planning may wonder what is involved in estate administration. Estate administration has three components: getting the assets together and assessing their value, dealing with taxes and debts out of those assets, and ensuring that what remains is distributed to the beneficiaries.