Legal Question in Wills and Trusts in New York
no will
i had P.O.A for my aunt,she just died and there is no will,she owns a co=op for 10,000.00. how do i go about getting these funds so I can offset the funeral I paid for
2 Answers from Attorneys
Re: no will
The POA ceases to be valid upon the death of the maker. Since she died "intestate" (without a Will), the closest living relative is entitled to be appointed Administrator of the estate and, once appointed, your claim for reimbursement should be presented to the Administrator. If you are the closest living relative, you can handle this yourself. If the estate assets are $10,000 or less, a small estate proceeding can be used, but there will be expenses since the Administrator needs to be bonded. If you need assistance, contact me directly.
Re: no will
Your power of attorney died with your aunt. There is no one responsible for the estate until Surrogate Court appoints an administrator to take care of the estate.
You should have a lawyer assist. He can go to court, have you appointed the administrator. You can then sell the co-op and pay back the funeral expenses that you paid.
The longer you wait, the more fees are going to accrue which will diminish the value of the co-op and the monies which are left in the estate.
If you need any further information, please feel free to contact me.