The definition of a New York “small estate” has been increased from $20,000 to $30,000 or less, effective January 1, and 2009.
The settling of an estate is can be expensive and very difficult for the decedent’s family. The probate process can be very lengthy and emotionally draining.
The simplified procedure for small estates provides for a much faster and less costly method for the settlement of an estate. The probate process involves numerous precautionary measures to ensure the rights of the deceased and family members are protected.
Small estates of $30,000 or less do not need these precautions.
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