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How to Avoid Probate in New York


Avoiding probate in New York is achievable for most families, but it requires deliberate planning and proper titling of assets. The Surrogate's Court Procedure Act and the Estates, Powers and Trusts Law apply when assets are held in the decedent's individual name without a survivorship feature or beneficiary designation. Eliminating those individually owned assets eliminates the need for full probate.

The most powerful single tool is the revocable living trust under Article 7 of the EPTL. Assets retitled into a funded trust pass under the trust agreement at death, with no court involvement.

Joint ownership with right of survivorship and tenancy by the entirety between spouses transfer property automatically to the surviving co-owner. These structures carry trade-offs because joint ownership exposes the property to the co-owner's creditors and changes control during life.

Beneficiary designations on life insurance, retirement accounts, annuities, and similar products bypass probate. Payable-on-death and transfer-on-death designations on bank and brokerage accounts achieve the same result for cash and securities.

For real estate, the use of a revocable living trust is the cleanest probate-avoidance mechanism in New York, which does not currently recognize a Lady Bird deed equivalent.

Smaller estates of $50,000 or less in personal property may qualify for voluntary administration under SCPA Article 13, an inexpensive and fast alternative to full probate even for estates that have not affirmatively planned around it.

Avoiding probate does not eliminate the need for tax planning. New York has its own estate tax with a cliff effect, and federal estate tax may apply to larger estates regardless of probate strategy.

At CMD Attorneys, we design plans that avoid probate where appropriate and address tax, creditor, and family considerations together.

Contact Information and Disclaimer

If you have any doubts or questions about this topic or any other topic on our blog, do not hesitate to contact us to evaluate your case. You may schedule a phone or in-person consultation using the following link and selecting the desired type of consultation:

Schedule a consultation: https://calendly.com/cmdattorneys/

You may also call at 305-515-5165 or reach out at support@cmdattorneys.com.

The information in this publication does not constitute legal advice and is provided for educational purposes only. Reading this post or calling our office does not create an attorney-client relationship. Before taking any action related to the information in this publication or any other publication, you should consult with an attorney admitted to the practice of law in your state.

CMD Attorneys

Miami: 3907 SW 67th Avenue, Suite 200, Miami, FL 33155 | (305) 515-5165

New York: 224 W 35th Street, Suite 500 PMB 151, New York, NY 10001 | (212) 333-3636

 
 
 

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