Letters of Testamentary Questions
What are the letters of testamentary?The letter of testamentary is a legal document that is provided by the court. The testamentary letter gives the individual who has been named as the executor in the will the authority to act according to the provisions mentioned in it.
Can the letters of testamentary be filed without seeking the help of a lawyer?An individual may not have to hire a lawyer to file testamentary letters. In many cases an individual may be able to file them on their own.
Can an objection be filed against another person being granted the letters of testamentary?An individual may be able to file an objection against another person being granted the letters of testamentary. However, they may have to prove one of the following in court:
• The concerned person is incapable and unfit of being an executor of the will
• There is no specific reason to explain the individual’s slow behavior
• He/she has failed to perform his/her fiduciary duties in the past
• He/she has delayed the probate of the will for his/her personal benefit
• The intention behind his/her delay in probating the will was to seek some sort of revenge.
How can an individual obtain testamentary letters in New York?The individual may have to file a petition in a surrogate court of the county where the deceased person lived in order to obtain the testamentary letters. The individual may be able to get the required forms on the New York Court website.
Can the letters of testamentary be modified to add new property?It may be possible to amend the letters of testamentary to add new property. The individual may have to file a motion for the amendment in court. Once approved, the letters may be renewed with a new date on them.
What would be the cost to file testamentary letters in the state of New York?The cost to file the letters of testamentary may depend on the total value of the estate in the state of New York. In most situations, the charges may be as follows:
• $45 for an estate whose value is up to $10,000
• $75 for an estate value of $10,000 to $20,000
• $215 for an estate value of $20,000 to $50,000
• $280 for an estate whose value is $50,000 to $100,000
• $420 for an estate value of $100,000 to $250,000
• $625 for an estate with a value of $250,000 to $500,000
• $1,250 for an estate with a value more than $500,000
Would the IRS consider testamentary letters that are older than 6 months to be invalid?The IRS may not consider letters of testamentary that are older than 6 months to be invalid.
Would an individual require testamentary letters if a property was a part of a trust?An individual may not require testamentary letters if a property was already a part of the trust. He/she may only have to present a memorandum of the trust to prove that he/she is the trustee.
Executing a will may not always be an easy task. There are a lot of procedures and documentation involved. The probate process can take longer if the correct documents are not submitted to the court. The letters of testamentary are one such set of documents. You can consult an Expert if you are in the process of executing a will and do not know how to file for testamentary letters or need any more information regarding them.