Legal Question in Wills and Trusts in New York

Re: disbursement of preceeds from property estate sale

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The proceeds should be deposited into an accountse6t up specifically for the estate.

Customarily, down payments in a real estate sale are held until the actual transfer of title in escrow by the attorney for the seller. Checks for the down payment would be made out to "Lawyers Name, As attorney" and MUST be deposited in the attorney's trust account.

Distribution of the estate to heirs most likely would not take place until all debts and taxes are paid, however, it is sometimes posible to make a partial distribution. Ask the attorney.

Re: disbursement of preceeds from property estate sale

It is not unusual that sale proceeds were made out to the attorney, as the attorney for the estate.

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