Estate Administration in Nassau | Suffolk Counties & Long Island, New York
A person’s estate refers to the assets the individual acquired during his or her lifetime and died owning. Following the death of an individual, the process of collecting all of the assets of the decedent, settling the decedent’s debts, filing the decedent’s last income tax return and estate tax returns (if required), and then paying off all tax required obligations and making distributions to the decedent’s beneficiaries is referred to as the administration of the estate.
The testamentary plan of a deceased individual may direct that his or her estate be distributed pursuant to a will or a trust or a combination of a will and trust. Both of these documents require estate administration. Where the decedent’s assets pass by last will and testament, the estate administration duties are the responsibility of the executor, while a trustee acts on behalf of the trust. In either case, the person responsible for administering the estate may face a complicated, overwhelming, time-intensive process that could be streamlined by enlisting the assistance of a New York Estate Administration Attorney.
Elements of Estate Administration in New York
Components of the estate administration process often include:
- Locating, gathering, and liquidating assets.
- Notifying creditors and paying debts.
- Paying estate taxes and preparing estate tax returns.
- Preparing estate accountings and releases for beneficiaries.
- Distributing assets to beneficiaries.
Let the experience of Probate and Estate Administration Attorneys who have handled estate administrations for nearly three decades help settle an estate for you.
At Makofsky Law Group, P.C., we are not just lawyers. We are mothers, daughters, sisters, and wives. We understand the importance of family and we understand the pain experienced with the passing of a loved one because we have experienced it ourselves. For that reason, we always strive to deliver the kind of service we would want if we were the client.
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LOCATED IN GARDEN CITY, NEW YORK, MAKOFSKY LAW GROUP, P.C. (formerly Makofsky & Associates, P.C. formerly Raskin & Makofsky, LLP) HAS SERVED CLIENTS IN AREAS INCLUDING LONG ISLAND, NEW YORK CITY, MANHATTAN, QUEENS, BROOKLYN, BRONX, WHITE PLAINS, MINEOLA, HEMPSTEAD, LEVITTOWN, MASSAPEQUA, BETHPAGE, SYOSSET, OYSTER BAY, GLEN COVE, PORT WASHINGTON, MANHASSET, GREAT NECK, WOODMERE, VALLEY STREAM, ELMONT, FLORAL PARK, FLUSHING, KEW GARDENS AND FOREST HILLS, NEW HYDE PARK, EAST MEADOW, PLAINVIEW, Merrick, Westbury, Long Beach, Oceanside, Franklin Square, Huntington and Rockville Centre.
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