Legal Question in Wills and Trusts in New York

New york probate, trusts, wills & estates law

My wife passed away in March 2008. She left a will leave all her possessions to Myself (her husband). She also had credit card debts (cards solely in her name). Her possessions amounted to approximately 3,000 dollars. I've opened up an estate account into which will be deposited her last check from her employer. To transfer the shares to my name i will obtain letters of testamentary or administration. My question is, as surviving spouse do i have first rights to her estate property (funds and stocks). I've been told that up to the amount of 15,000 i do. Is this correct? Thank you for any help

Sincerely

Spouse


Asked on 8/13/08, 3:43 pm

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

Re: New york probate, trusts, wills & estates law

If the Will clearly leaves you everything (cash, stocks, personal property, etc.), you are entitled to everything remaining after her debts and bills are paid. If she had died without a Will (intestate), you would still get everything after the bills are paid, if there were no children. If you have children, you would get the first $50,000 of net assets and everything over that would be split 50% to you and 50% to the child or children.

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Answered on 8/13/08, 4:05 pm


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