Legal Question in Wills and Trusts in New York

Re: Cost of probate and Will

The trust appears to be created under the Will, so to be effective the Trustee named must qualify to take title to the assets. This will require the Will be probated. Also, if the house was in the decedent's name, the Executor must also qualify to be in a position to handle the sale or transfer. In short, the Will must be probated so the fiduciaries (Executor and Trustee) are properly appointed. These people can usually do things themselves, and many Surrogate's offices are accostomed to having Wills probated without attorneys and can assist them. However, while you might not need an attorney to probate the Will, there are many phases of an estate that will require an attorney. Seeing all proper documents for transfer of assets are issued, the house sale may need an attorney, potential tax returns may be required for the estate, etc. Many attorneys will take the matter at an hourly rate, rather than a percentage and you should shop around and interview several, who are not only familar with probate matters, but also real estate and tax matters. Don't be penny wise and pound foolish. If you have any questions, call me at 973-377-3313 for more assistance.

Re: Cost of probate and Will

The house, unless part of the Trust, probably would form part of the Estate for probate, however there are some exceptions, depending on who the survivors are.

The customary fee, in Southern NY State is 3% of the estate.

While you can probate the Will without a lawyer, you are paying for the skill and experience of someone who has been through the process many times, and hopefully will do it right the first time.

Feel free to call me at 914-478-2981 or e-mail if you have any further questions.

Arnold Nager