New York Heir Finder
A New York Heir Finder Lawyer can tell you that the Probate can be a long process with many twists and turns. Whether you are dealing with the estate of a loved one, or planning your own estate, it is important to have all the necessary documents in place such as a Last Will and Testament, possibly a Trust, Power of Attorney, and Advanced Health Care Directive. But even with all the important documents in order unexpected events can arise.
When someone passes away, the decedent’s Last Will and Testament and many other Estate Planning documents are submitted to the Surrogate’s court. The court will authenticate the documents, issue letters testamentary and appoint an executor. The executor will inventory the assets of the estate and distribute the property to the beneficiaries. But what happens if during the process the heirs cannot be located? Many years can pass from the time when the decedent made their will and the time that that they eventually pass away. If you are encountering this situation, contact a New York Estate Lawyer for assistance. They can save you substantial time and frustration in attempting to locate a lost heir, and ensure that your Probate process goes smoothly.
If an heir cannot be located, the asset cannot be released from the estate. The asset will be held until such time as the heir can be located. Unclaimed property can include money in savings accounts, checking accounts, unpaid wages, commissions, credit balances, refunds, deposits and life insurance proceeds. It is important to contact a New York Heir Finder Lawyer to assist you in locating any lost heirs to an estate. Money and assets can potentially be tied up for years if the heir to an estate is not found. A New York Probate Lawyer will be able to research the whereabouts of a missing heir through many different channels and save you and the estate valuable time and resources.
If no legal heir can be found, the property will, pursuant to Intestate Succession, go to the next heir in line. This would of course be something that the decedent did not originally intend. If there is no heir next in line pursuant to the laws of Intestate Succession, the inheritance will be forfeited (or escheat) to the estate.
The process of Estate Administration or dealing with a loved one’s estate can lead to many unforeseen circumstances. It is important to not try and solve these issues on your own, which can possibly lead to even more complications. Stephen Bilkis & Associates, PLLC have New York Estate Lawyers who can help you navigate through your estate issue; lend valuable advice and a free consultation. Whether you need assistance locating a lost heir, or are embroiled in an Estate Litigation or other Probate Litigation matter, they are here to help. There are offices throughout New York, including Manhattan, Brooklyn, Bronx, Queens, Staten Island to Long Island in both Nassau County and Suffolk County and Westchester County. Call today to set up your free consultation at 800.696.9529.