New York Administration Proceedings: What You Need to Know
In the case of someone in New York dying without a will, or intestate, many considerations are deliberated in connection with the appointment of an administrator for the deceased’s estate.
Factors such as next of kin must be considered to determine the proper person to petition the New York Surrogate’s for Letters of Administration and the identity of those who are entitled to become the estate’s beneficiaries. Spouses and children of the deceased, for example, have first priority.
The Court also has to appoint an Administrator of the estate when there is no will, unlike when a last will is left and an Executor is appointed in a probate proceeding. The Surrogate’s Court Procedure Act Section 1001 provides a list of those entitled to be appointed Administrator. Click here to learn more about New York Administration proceedings.
In order to be appointed an Administrator, however, the Court usually requires that the potential Administrator post an Estate Surety Bond to protect the interests of the estate and its beneficiaries in accordance with state law.
Where can you instantly purchase an Estate Surety Bond?
Colonial Surety offers the direct and digital way to obtain estate bonds. We are the insurance company — which means no agent, no broker, and no middleman. We make it easy to obtain your bond instantly. The steps are easy — get a quote online, fill out your information, satisfy underwriting requirements, and enter your payment method. Print or e-file your bond from your office. It’s that simple!