Legal Question in Wills and Trusts in New York
application for letters of administration
How accurate must the estimated gross value of the decedent's personal property be? Do things like unpaid vacation and sick time from employer have to be included?
What if my estimate is wrong? Will I get an individual letter of administration for each company with an amount on it, or just a general ''to whom it may concern'' letter to be given to all?
2 Answers from Attorneys
Re: application for letters of administration
Your question is a little confusing. You imply you are seeking administration of a decedent's estate (the estate of someone who has died without a Will). If this is correct, part of the application will require a bond be posted, the amount of which is based upon the estimated size of the estate. If the decedent was entitled to these employment benefits and will receive them, they are included in the estimated size of the estate. I suggest contacting the human resources department of the employer and explaining why the information is needed. They might not tell you the amount involved, but might give you a general number to use. I suggest using a reasonable value for personal property, which need not be appraised before the appointment is granted. Since you will be bonded, be as accurate as possible, but you need not be exact. Once you are appointed, Letters of Administration will be issued. This document will authorize you to contact all applicable sources of assets and debts, to get the information you need to administer the estate, evaluate assets, determine debts, open an estate bank account, etc. You only need to send them a photocopy of the document issued to start communications. If you need more information, contact me directly. You should have an attorney to assist you.
Re: application for letters of administration
Estimates need not be to the penny but should be in the ball park and consistent with any other documents filed. Benefits should be included if they are a substntial portion of the person's income, if not it is probably not essential to include.
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