Thursday, August 9, 2012

New York state - probate delay?

On Mar 30, 6:38 am, Rick <ricka...@rcn.com> wrote:
> your MIL is in
> a really tough position regarding her husband's estate and dealing with
> expenses. The only way to get access to the money - eventually - with no
> will in place is to probate the estate.   * * *  IIRC in our case
> the Probate Court was not willing to allow access to funds in the bank
> accounts for any reason until a certain time period had elapsed. The
> total process took a little over one year before my Father had access to
> accounts in my Mother's name. The Probate Court will want to see paper,
> the banks will want to see paper... Nothing happens fast.

I'm a bit surprised if NY is still all that Dickensian about accessing probate funds to support an otherwise impoverished immediate family of a deceased intestate.   Maybe there were some unusual circumstances in Rich's case that made the court respond that way, such as family disagreements over who should be appointed PR or over which expenses were legitimately owed by the estate..

Here in MD, by contrast, even in a no-will situation, any person who, by statute, is authorized to act as PR can prepare a probate petition, walk into court and file it, and walk back out minutes later with Letters of Appointment in hand, which by MD law acknowledge and order any concerned person to recognize that the PR immediately acquired legal title to all assets of the deceased, for the benefit of the estate and its creditors and heirs of course, but allowing the PR to immediately access and make transactions on any accounts in the deceased's name and to access his safe deposit boxes, etc.

Of course the PR has to eventually account for every penny and receive court approval of all disbursements before porbate can be CLOSED, but there is no delay in accessing the funds to pay ongoing bills, funeral expenses, and to provide an interim disbursement of estate funds to one or more of the ultimate heirs who are in need, after OPENING the probate process by filing a petition, so long as the PR is careful to leave enough funds in the estate to pay all creditors (at the risk of being personally liable for same, and other penalties).

Wouldn't you think the state of NY would rather be able to have their widows and orphans being supported by a deceased breadwinner's own funds, instead of becoming welfare recipients or wards of the state?   Any NY lawyers reading this?  What's the deal there?

> I wish I had something better to offer. But not having a will only
> leaves a mess for the people who have to deal with the estate.

I certainly agree with you there, for the benefit of readers besides OP for whom it is not too late to plan ahead.  Any family breadwinner with dependents of any age who has not made an estate plan covering all foreseeable contingencies is selling his family short, and should correct that immediately by consulting a knowledgeable local estates-and-trusts lawyer.

--
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Mike Jacobs
LAW OFFICE OF W. MICHAEL JACOBS
10440 Little Patuxent Pkwy #300
Columbia, MD 21044
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