Legal Question in Wills and Trusts in New York

Re: Estateadm

By having died intestate (without a Will) all children are equally allowed to be appointed as the administrator. If they want only 1 or 2 to serve, the others can renounce their right to serve. Check with the local Surrogate in County where father resided when he died, to get forms for appintment and renunciation. These may even be on-line if the Surrogate's office has on-line access. By intestacy, all children are treated equally and each is entitled to 1/3 of estate. You may need an attorney if the estate is large enough to require estate or local inheritance taxes to be paid. If you need more information, contact me by phone (973-377-3313) or direct e-mail.

Re: Estateadm

A Petition for the Appointment of Administrators is to be filed with the Surrogate for the county in which your father lived. The three children have equal right to be co-administrators. Two of the children can renounce that right and the third can serve as administrator.

Since the Estate will be shared equally, each of you will have equal say in everything. Remember, the administraror works for the beneficiaries. Also keep in mind that the administrator is entitled to a commission (fee).

The three of you can enter into an agreement in advance to equalize the right to vote on any or all issues.

Re: Estateadm

You need to file a petition for letters of administration with the surrogate's court of the county where your father resided when he died. Letters of administration will name the administrator, and authorize you (or whomever you choose to act as administrator) to buy, sell, and otherwise handle your father's estate's property. The filing process requires that the applicant give notice to all children (thus giving each child a chance for their equal say).

Be aware that New York State has bonding requirements for administrators.

Also, be aware that Federal and State estate and gift tax issues may apply, and fiduciary income taxes will apply to the estate.

Email or call my office for a more in depth discussion of your case.

Good luck.