Legal Question in Wills and Trusts in New York

Beneficiary Transfer To Estate

Hi,

My aunt who passed away 3 years ago was a resident of NY State,had no assets in NJ,my mom (her next of kin)resides in NJ & is the administrator. An estate acct was setup.However 1 bank claims they need forms from NJ before they can transfer 2 small IRA accounts to the estate account.We were able to close 1 other bank acct with court administration letters & an orig death certificate.Every time i contact the bank i get different answers or switched to different people, i dont think they know what is required. Its a transfer NOT a payout. Any suggestions? Thanks.


Asked on 7/26/06, 10:15 pm

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: Beneficiary Transfer To Estate

WHILE YOUR FACTS MAY BE INCOMPLETE, IT APPEARS THE BANK ACCOUHT MAY BE IN NJ, AND YOUR MOM WAS ONLY APPOINTED IN NY. SHE CAN SIMPLY QUALIFY IN NJ BY CONTACTING THE SURROGATE'S OFFICE IN NY AND ASKING THEM TO DO WHAT IS CALLED ANCILLARY PROBATE. THIS SHOULD BE COORDINATED WITH THE SURROGATE'S OFFICE WHERE MOM RESIDES. ANCILLARY PROBATE ALLOWS HER TO ACT AS THE ESTATE REPRESENTATIVE IN NJ. THERE ARE SOME FEES INVOLVED BUT THEY ARE MOSTLY PHOTOCOPYING AND REGISTRATION, AND SHE DOES NOT NEED AN ATTORNEY TO HELP HER QUALIFY.

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Answered on 7/27/06, 12:07 pm


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