What Do Estate Administration Attorneys Do?
When an individual dies, all of his or her possessions, including personal belongings, vehicles, homes, real estate, money, and stocks and other holdings, become a part of his or her estate. Estate administration is necessary to pay the decedent’s debts and taxes, distributing the remaining property to the beneficiaries. The administrator of an estate manages the estate according to New York probate laws. While New York state generally governs probate for deceased residents, in some cases, real estate holdings may be probated in the state of that holding. With a goal of simplifying estate administration, several states have adopted a version of the Uniform Probate Code. Long Island estate administration attorneys from Davidov Law Group can streamline the entire process, handling all the administrative tasks while the family has the time to grieve their loss.
How Can Estate Administration Attorneys Help Prevent Family Conflict?
Unfortunately, the death of a loved one can sometimes lead to family conflict when it comes time to distribute the assets of the estate. Money can sometimes bring out the worst in people and when family conflict is already present, the loss of a loved one can exacerbate the conflict and tension. While it would seem as though greed causes these conflicts, in reality, this is rarely the primary cause of trouble. Particularly in today’s blended families, inheritance conflict can be the continuation of long-term relationship issues.
Add to this mix the fact that death can cause anxiety about their own mortality for all those involved, and you can see why dividing an estate can be a potentially explosive situation for many families. Despite the tensions and rivalries that naturally exist among families, conflict following a death is not inevitable. Having experienced Long Island estate administration attorneys handling the estate can make a huge difference in the outcome. The Davidov Law Group can help ensure that family members are still speaking to one another once the estate is settled.
How Davidov Law Group Estate Administration Attorneys Preserve Your Legacy
Estate administration through probate is a notoriously complicated process—one that should not be handled on your own, particularly while you are grieving the loss of a loved one. The Long Island estate administration attorneys at Davidov Law Group can provide the guidance and compassion you need while ensuring your loved one’s wishes are carried out. The very last thing you need following the loss of a loved one, are the complications associated with probate and estate administration.
If you have been named as the executor of your loved one’s estate, we can guide you through the process in a step-by-step manner. Whether your loved one had a comprehensive estate plan in place or passed away without a will, Davidov Law Group has the knowledge and skills necessary to handle even the most complex estate plan. We can handle all stages of estate administration on your behalf, including:
- Trust interpretation and modification
- Collecting, cataloging, and appraising all assets in the estate
- Paying the final debts of the decedent
- Locating all important documents
- Making funeral and burial arrangements
- Preparing trust asset allocations
- Preparing estate and gift tax returns
The Benefits of Selecting Experienced Estate Administration Attorneys
Having Long Island estate administration attorneys from Davidov Law Group help with estate administration tasks can make a significant difference in both the process and the outcome. The primary benefits of having Long Island administration attorneys during this difficult time include:
- Family conflicts can be significantly minimized.
- The process can go more quickly and much more smoothly.
- Estate administration attorneys can protect the estate from legal claims—which occur more often than you might think.
- The attorney can provide insight into specific matters, particularly in more complex estates. This insight can truly be an invaluable resource during this difficult time.
- Long Island estate administration attorneys can advise you on the finer details, including fees, taxes, settling debts, and more.
- Your estate administration attorney will ensure things are done right the first time around, avoiding future headaches and disputes.
What are Some Common Issues Associated with Estate Administration?
Even under the best circumstances, administering an estate can be a complex and emotional process for family members. When issues or complications arise, estate administration can drag on for a long time. Financial and time costs associated with probate generally become more problematic as the process stretches out, opening the door for deepening family conflicts, and taking an emotional toll on all those involved. While every estate administration is unique in some way, there are some common issues that can cause the process to take significantly more time—or stall out completely. These issues include:
- The named personal representative (executor) is not properly fulfilling the duties and responsibilities related to estate administration.
- An interested party is contesting or disputing the will or trust, meaning litigation could follow.
- The decedent owned property in multiple states, making the estate administration much more complex.
- There are many creditor claims or significant tax debt that will take time to sort through.
- The estate plan of the decedent is outdated, unclear, or incomplete. When the estate plan of the deceased is ambiguous, there are likely to be more disputes and family conflicts, particularly when a family member believes they were accidentally omitted.
It is extremely important to work with a knowledgeable Long Island estate administration because even under the best circumstances, probate can be difficult. Whether you are a beneficiary, a personal representative, or a creditor, having the experienced guidance of an estate administration attorney can be extremely advantageous. For more information regarding New York Probate Law, see Chapter 17 B, Articles 1-14.
Selecting the Best Estate Administration Attorneys for Your Unique Needs
The Long Island estate administration attorneys at Davidov Law Group have more than 25 years of combined legal experience. We received a “Superb” AVVO rating for exceptional client satisfaction and have many glowing reviews from past clients. We have Super Lawyers inclusion for skills and dedications. Davidov Law Group has an in-house Certified Financial Planner, with a depth of experience in all financial matters. We strive to build strong client relationships and fully understand your goals prior to making recommendations. For more information on estate planning and estate administration, read our book, “Keeping it in Your Family—Protecting Your Family and Leaving a Lasting Legacy.”
How Davidov Law Group Will Protect Your Family and Preserve Your Legacy
Davidov Law Group has offices on Long Island, serving Nassau County, NY, and Queens County, NY. We are a family-owned firm—Ilana and Michael Davidov are spouses—and we want to help other families plan for their future. We are immigrants and children of immigrants. Our parents sacrificed to provide a better future for us, and we believe we are living proof of the American Dream. We have more than 21 years of client service and there are more than 2,500 families protected by our firm. We will never engage in one-size-fits-all planning because we understand that each family has unique goals and concerns.
The Long Island estate administration attorneys at Davidov Law Group are passionate about helping people overcome life’s biggest challenges. We offer responsive communication and are dedicated to keeping you informed every step of the way. We understand what a difficult time you are going through so we work hard to make the experience of estate administration as smooth and stress-free as possible. Contact Davidov Law Group today to achieve much-needed peace of mind following the loss of a loved one.