Legal Question in Wills and Trusts in New York
Questionable Assets in Estate
A relative died in Kings county,NY. My siblings are legal heirs along with other cousins. My aunt was appointed executor of the estate and has hired a lawyer to distribute the assets which includes the sale of a brownstone.
Question 1- I believe my uncle had a will, but was told none was found. Is there anyway to check on this?
2-Should I have an asset search done if one believes that all assets in the estate are not listed or possibly being hidden.
3-Houses in the area trade between 500,000 and 1,000,000
The brownstone was supposedly appraised at 275,000.{ The date of appraisal is the same day my uncle died.}
What steps can be taken to insure that the house is sold at FMV and not at the supposed appraisal value.
4- Should I have an additional appraisal done and insist the house be listed on the open market. Thanks for your help.
1 Answer from Attorneys
Re: Questionable Assets in Estate
I would contact an attorney (preferably one in Kings County) who can help you by getting a copy of the will, determining if the value of the house at $275K is below fair market value, etc.
I suggest calling the Kings County Bar Association and asking for an attorney who concentrates in probating wills/estates.
Good luck.