New York estate planning attorney Benjamin Goldburd, co-founder of Goldburd McCone LLP in New York, NY, cautions families about the often-overlooked expenses associated with probate, emphasizing the importance of proactive estate planning. For more information, please visit https://goldburdmccone.com
-- The financial and emotional toll of dying without a Will can be far greater than most families realize, according to Benjamin Goldburd, a leading Estate Planning and Probate attorney in New York.
Goldburd, Partner at Goldburd McCone LLP, explained that when someone passes away, their estate typically goes through a court-supervised process known as probate. This process ensures debts are paid, tax returns are filed, and remaining assets are distributed to beneficiaries.
When a person leaves behind a Will, they designate a personal representative to handle probate. That representative can work with an attorney to guide them through what is often a complicated legal process.
But when someone dies without a Will, the situation changes dramatically. Instead of the decedent deciding how assets are distributed or who manages the estate, state intestacy laws and the court make those decisions. “The court may appoint someone to administer the estate who isn’t the person the decedent would have chosen,” Goldburd noted.
Probate costs can also escalate quickly. “Attorney fees and personal representative fees depend on how complex the estate is. If family members fight over the Will, those costs can rise substantially,” Goldburd warned.
For example, an estate valued at $600,000 could rack up around $30,000 in probate-related expenses, including attorney fees, filing costs, and surety bond premiums—before the estate is even settled. “By comparison, putting a proper estate plan in place usually costs far less than a drawn-out court battle over assets,” Goldburd said.
He added that some estimates suggest probate can cost up to 10 times more than preparing a clear estate plan with a Will.
“A well-drafted Will gives families certainty and guidance, easing stress during a difficult time,” Goldburd emphasized. “Without one, the probate process can cause unnecessary conflict, higher expenses, and lasting family discord. Ideally, people should not only create a Will but also consider alternative planning strategies with an experienced attorney to avoid probate altogether.”
Contact Info:
Name: Benjamin A. Goldburd
Email: Send Email
Organization: Goldburd McCone LLP
Address: 11 Broadway, Suite 1155, New York, NY 10004
Phone: (646) 663-8226
Website: https://www.goldburdmccone.com
Release ID: 89174890
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