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Rudolf J. Karvay
Estate & Trust Law
Garden City, New York
Estate & Trust Law
Garden City, New York
Probate ● Administration ● Estate Planning ● Taxation ● Litigation ● (516) 780-0281
SETTLE A SMALL ESTATE WITHOUT GOING TO COURT
In New York you can settle a small estate without filing papers in court and with little or no legal fees. There is a law on the books which allows the collection, without court intervention, of money or securities payable to decedent’s estate by banks, insurers, government agencies, employers and other institutions. In other words, you may be able to collect the decedent’s funds without filing for probate, intestate administration or voluntary letters. If you qualify, you can save a great deal of money on legal fees and court filing fees. Additionally, avoiding the court process will save you time.
Here's How it Works
The Surviving Spouse May Collect up to $30,000
The Surviving Spouse May Collect up to $30,000
Immediately after the death of the decedent, a surviving spouse may collect up to $30,000 in assets by simply presenting the institution(s) with an affidavit and a death certificate. The affidavit must state that the payment and all other payments received by the spouse from all institutions do not exceed $30,000.
Although you should have the affidavit prepared by an attorney, the cost will be minimal when compared with filing a proceeding in court. If you prefer, you may use our virtual law office to prepare the affidavit online with the aid of an attorney for only $75.00. Click here.
If your husband or wife dies with assets of $30,000 or less, you should be able to collect the money without much hassle or expense. However, you cannot collect the assets by affidavit if an Executor, Administrator or Voluntary Administrator has been appointed. Additionally, not all assets may be collected in this manner. For example, personal and real property cannot be liquidated by using an affidavit.
30 Days After Death...
Certain Relatives May Collect up to $15,000
Certain Relatives May Collect up to $15,000
After 30 days have elapsed from the date of death, up to $15,000 may be collected by the spouse, children, parents, siblings, nieces and nephews or a creditor who has paid the funeral expenses. The list of relatives is in order of entitlement. Therefore, if the decedent was survived by a spouse, only the spouse can collect the money. If the decedent was survived by children and no spouse, only the children may collect. If the decedent was not survived by a spouse or children, then the parents may collect and so on. Why was the surviving spouse included in both sections? Possibly to maintain the order of entitlement: a surviving spouse always has first priority.
Although the statute allows for payment to a funeral creditor, the creditor cannot collect the money alone. The request for payment of funeral expenses must be made by the surviving spouse or other relative.
Payment is made upon the affidavit of the surviving spouse or relative. The affidavit must set forth the following:
Although the statute allows for payment to a funeral creditor, the creditor cannot collect the money alone. The request for payment of funeral expenses must be made by the surviving spouse or other relative.
Payment is made upon the affidavit of the surviving spouse or relative. The affidavit must set forth the following:
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Finally, the affidavit must state that the payment and all other payments received from all institutions do not exceed $15,000 in the aggregate.
6 Months After Death...
Other Relatives May Collect up to $5,000
After 6 months have elapsed from the date of death, up to $5,000 may be collected by a distributee or by a person who has paid for the decedent’s funeral. Examples of distributees are grandchildren, grandparents, aunts, uncles and cousins. In contrast to the preceding section, here payment is made to the funeral creditor upon the affidavit of the person being paid.
Payment is made upon the affidavit of the distributee or funeral creditor. The affidavit must set forth the following:
Payment is made upon the affidavit of the distributee or funeral creditor. The affidavit must set forth the following:
-Decedent’s date of death
-That no fiduciary has qualified or been appointed
-That the decedent was not survived by a spouse or minor child
-That the affiant is entitled to the payment
Finally, the affidavit must state that the payment and all other payments received from all institutions do not exceed $5,000 in the aggregate.
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