Antonelli & Antonelli, Attorneys at Law

First, remember that a decedent’s debts are not your personal responsibility—as long as you follow the rules. In other words, if there isn’t enough money in the estate, then you don’t need to pay from your own pocket. However, it’s critical to pay liabilities in the proper order, and your attorney should help you determine who gets paid when there isn’t enough to go around. If you pay the wrong person, then the person entitled to that money could come digging into your pocket.

A personal representative is a person who has received letters to administer the estate of a decedent. Upon appointment, a personal representative typically receives either letters testamentary (if the decedent died with a will) or letters of administration (if the decedent died without a will) from the Surrogate’s Court. These letters will grant the personal representative the power to administer the decedent's property.

Definition of HOLOGRAPHIC WILL: (noun) / a will written entirely in the handwriting of the testator and not executed and attested in accordance with the formalities prescribed by New York Estates Powers & Trusts Law § 3-2.1 In order for a holographic will to be admitted to probate, it must be proven that the will was written entirely in the testator’s handwriting and that the testator, at the time the will was executed, was a member of the armed forces while in actual military or naval service during a war or other armed conflict; a person who serves with or accompanies an armed force engaged in actual military service during such war or armed conflict, or a mariner at sea.

“Estate” is used many different contexts but, at its simplest, it just means ownership. A person can own real estate, meaning an ownership interest in land, usually referred to as title, as in “the landlord holds title; the tenant merely has a right of possession.” “Trust estate” refers to property held by a trust where the trustee holds legal title (right to manage) and the beneficiary holds beneficial title (right to benefit from). “Probate estate” refers to property passing through one’s last will. When a living person refers to his or her “estate” it is usually a reference to the person’s aggregate ownership, as in “I’ve built a large estate of land, stock, and commodities.”

Plain English translation: In order for a person to be considered legally incompetent, a court must make a determination that the person cannot manage himself or his affairs by reason of age, mental illness, or otherwise.

If you die with assets in your name, then your survivors must go through a court process—whether you have a will or not. Someone must get authority to handle your assets. If there’s a will, then that person is typically named in the will as the executor. If there’s no will, then one of the heirs typically gets appointed to a position referred to as the “administrator.” This is the person in charge of handling your estate. Will or no will, you must go to court.

If your loved one passed away and lived in New York we can provide legal help. To learn more please visit our website https://www.antonelli-legal.com or feel free to call us directly 212.227.2424.