Montgomery, NY Estate Planning Law Firms & Lawyers

Creditors can collect from the probate estate of a deceased individual. A will does not have to be probated if the deceased individual left no assets in his or her name alone when they died (i.e. the assets were not jointly owned, did not have beneficiaries, or were not in a trust). A lawyer can help you with the estate administration.

The executor has a duty to gather all the deceased's property, pay the bills of the deceased and the deceased's estate and then distribute the rest as provided in the Will.

Hello. My name is Damien. I am a Trusts & Estates attorney in New York City practicing in the New York City metropolitan area. Generally, in order to sell the property when there is a life estate, all of the life tenants and remaindermen have to agree to the sale. Yet, a remainderman could sell, assign or transfer his or her interest in the property, but the buyer would have to take the property subject to the rights of the life tenants and other remaindermen. In other words, in effect, if all the life tenants and some remaindermen agree to sell their share of the property, the remaindermen who did not sell their share would remain as property owners holding the property as tenants in common with the new buyer or buyers. So, it is possible to argue that a contract among the other parties to sell their share of the property remains valid while the remainderman who did not agree to sell her or his property interest would keep her or his property interest and become a tenant in common with the other buyer or buyers. If you need any assistance, a New York Trusts & Estates Attorney could help you. If you wish to speak on the phone about it, you can call Damien Bosco, P.C. at (646) 452-7082 or email me at DamienBoscoEsq@gmail.com