Legal Question in Wills and Trusts in New York
Probate of Property
I am the power of attorney for my elderly mother. She is incompetent and has no will. I am her only heir. How will the property be passed on to me at her death? Who takes care of manageing the property after her death?
2 Answers from Attorneys
Re: Probate of Property
The property would pass to you under NY intestacy laws. Upon her death, you would have to petition the Court to be the administrator of the estate. As the administrator, you would manage the property and ultimately place the property in your name. You would also be responsible for filing your mother's final tax return, paying all debt and settling her estate.
Mike.
Re: Probate of Property
Mike is correct, but there might be an alternative. Does the POA allow you to transfer the property during her lifetime? If so, you can transfer it now and avoid the probate after her death. There may be gift tax issues which depend upon the value of the property. There may also be Medicaid issues as well, if your mother is receiving Medicaid benefits and may file for them in the future. I suggest this be reviewed by an attorney familiar with these issues.
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