Whether you are planning your estate in New York, or you are acting as the executor for a family member’s estate, it is important to consider the state taxes that may be levied prior to distribution of the property and assets specified in a will to the named beneficiaries.
New York State only requires estates valued over $30,000 to be probated when there is a will. Probate proceedings in New York State take place in Surrogate’s Court in the county where the decedent lived at the time of their death.
Estate administration is the settling and distribution of the possessions and value of a person who is deceased, according to their will. If a loved one recently passed away, what do you need to know about the process?