Tampa, FL asked in Estate Planning for New York

Q: How to use estate monies

My son died and I am in the process of selling his home. Can I withdraw money that I have paid for electric and heat (oil) from the estate fund before the estate is finalized? I had to keep both of these going as the home is in upstate New York with the cold weather. I have received a contract for the sale of my son's home and it is due to close in the beginning of April.

Also, there is only one claim against my son's estate. My ex husband filed a claim stating that he let Michael borrow money. He did not have a promissory note or contract for this. He supplied wire confirmations and cancelled checks to support his claim. Also, my son has two minor children, ages 2 and 4, is his estate protected? Once I close on the house and the money ($15,000 approximately) is deposited in the estate account, can I turn down the claim to my ex husband since he does not have legal documentation the he loaned his money.

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2 Lawyer Answers
Michael David Siegel
Michael David Siegel
Answered
  • New York, NY
  • Licensed in New York

A: To protect yourself and the money, you are going to need to do a final accounting in the Surrogate's Court. While you can claim payment of expenses, until the court rules, you cannot guarantee approval.

Kenneth V Zichi agrees with this answer

Inna Fershteyn
Inna Fershteyn
Answered
  • Estate Planning Lawyer
  • New York, NY
  • Licensed in New York

A: First, I am very sorry about your son. Second, its more complicated than what you are doing if your son has minor children. You have to first file to have Guardians of Minor and Guardians of property appointed for his children.

Your ex-husband's claim is without merit, if he gave money it was a gift.

Get a consultation with estate attorney before proceeding its too much to explain in one email.

Sincerely,

Inna Fershteyn

Law Office of Inna Fershteyn and Associates, P.C.

1517 Voorhies Ave, Suite 400

Brooklyn, NY 1123

tel: 718-333-2394

fax: 718-701-8859

www.BrooklynTrustandWill.com

9 users found this answer helpful

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