Legal Question in Wills and Trusts in New York

What comes next?

Became voluntary admin. of sisters estate. (No will) Had savings acct. ($40,000)& cd's($50,000) with named beneficiaries. Had small checking acct.($1,200) in her name only which I have opened a estate acct. with. All bills paid. Filed 1041 as requested. What did I do next? There are 2 other siblings involved. Can the named beneficiary of the above mentioned accts. collect the money.


Asked on 5/31/07, 2:31 am

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: What comes next?

Administration only acts on individually owned assets, not assets with more than one name. The people named as other owners must process the liquidation of these accounts on their own. You are only responsible to advise them that these assets exist and handle the rest of the estate. If you need help, cpntact me directly.

Read more
Answered on 5/31/07, 1:31 pm


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in New York