New York Sample Letter for Execution of Petition to Close Estate and For Other Relief
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How to fill out Sample Letter For Execution Of Petition To Close Estate And For Other Relief?
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FAQ
A Letter of Testamentary?sometimes called a "Letter of Administration" or "Letter of Representation"?is a document granted by a local court. The document simply states that you are the legal executor for a particular estate and that you have the ability to act as such.
Section 207.4 Papers filed in court; clerk's file number; official forms. (a) Unless otherwise specified by the court, attorneys, as well as parties appearing without attorneys, shall prepare and submit all papers, pleadings, orders and decrees to be acted upon by the Surrogate.
Answer: Letters of Administration must be obtained from the Surrogate's Court in the county of the Decedent's residence.
Since the executor is personally liable to creditors if he distributes assets before 7 months have elapsed from his appointment, the minimum time it takes to complete probate is 7 months from the time the will is admitted to probate, although we sometimes see estates stay opened for two years or more.
CLOSING THE ESTATE: FORM 207.42 must be prepared and executed by the fiduciary and the attorney and filed after 7 months or by the end of 2 years from the date of fiduciary appointment. RELEASES from all beneficiaries of the estate must be executed and filed at this time, if not already filed.
The Waiver and Consent is used to speed up the process when everybody agrees that the Will is valid and that the Will should be admitted to probate. If every distributee signs this Waiver and Consent it can save the estate significant time and expense.
To obtain a letter of testamentary in New York, you will first need to file a petition for probate to the Surrogate's Court in the county where the deceased resided.
CLOSING THE ESTATE: RELEASES from all beneficiaries of the estate must be executed and filed at this time, if not already filed. It is a good idea not to make any distributions without obtaining a release at the same time. The releases discharge the fiduciary from his duty as such fiduciary.
Certified copies may be ordered from Surrogate's Court for $6/page. If the copies need to be exemplified, there is an additional flat fee of $20.00. Please send an attorney's check, bank-certified check, or money order payable to New York County Surrogate's Court.
