If the rightful heir of your inheritance dies just after your death what happens to the property and assets you left behind? These situations do arise not very often but there is a record to prove otherwise. The answer is already specified in the State’s estate law but not in simpler terms.  If you die without a proper Will then your property will be inherited by your spouse and children. However, when you have no surviving family members alive to bear your assets, in that case, the court will send an administrator or executor to oversee everything you owe.   

If your named beneficiary dies without a Will then as a decedent your Will shall be considered ultimate. In that case, your beneficiary’s asset will be passed to the next in the beneficiary list or to his surviving family members. Moreover, if you are a distributee and receiving inheritance from your late father or mother then you must update all the estate-planning documents in compliance with the New York estate law before a misfortune befalls on you and your family. For example, if a beneficiary called Roger entrusted his Will and Trust to his beneficiaries then after his death the whole share of his assets will be transferred to them. In this scenario, a NYC probate is not necessary unless the surrogate’s court finds the entire affair unsatisfactory or not in terms of the established New York Estate Law.    

The local surrogate’s court may also issue the laws of intestacy in New York when the beneficiary (Roger) dies without a Will. According to this law, Roger’s assets and property will be transferred to the next of kin or distant relatives. Now imagine this, Roger had a father called Bruno, the testator or the creator of the Will before Roger that made him the next beneficiary under NY law along with his brothers. After Roger’s death, his brothers were supposed to take his share but Roger has surviving sons hence they cannot be excluded from the inheritance. The tricky part is Roger did not update the previous Will yet he died so it creates a problem. Possible distributees and other beneficiaries can file for a petition in the NYC local Surrogate’s Court for intervention but still, the court will favor Roger’s spouse and his children as the next beneficiaries under NY Law.

The court may also appoint an executor or order an administration of the estate as specified in the EPTL 2-1.6. It also clears one thing like the one if the named beneficiary dies within 120 hours after getting an inheritance from the decedent then they are considered as original decedent.  The appointed executor will work with the creditors of the decedent, accountants, and estate lawyers to distribute the remaining assets to the rightful beneficiary under NY law.

By going through this piece of exemplary scenario, you must have understood the significance of having estate planning documents so that if you die a premature death, the said beneficiary will take over your assets.  If you need help to evaluate your estate plan consult with an experienced estate lawyer Queens from the law offices of Roman Aminov, P.C, or dial 347-766-2685.