If I don’t probate my dad’s will is there a penalty in New York?
I do not practice in NY, however I will answer your question under general law. There are no penalties that I know of, if you do not probate a will. The real question is whether or not you will be able to inherit your father’s assets without going through probate. Probate is the process that transfers the assets of the decedent (your father) to the beneficiaries (your family) through the courts. Some assets need to go through probate, other assets do not. Assets that generally don’t go through probate are life insurance poilicies and IRA accounts. These assets pass to the beneficiaries through beneficiary designations, done prior to death. The other benefit of probate is that in certain circumstances, it may limit creditor liability.
This answer does not constitute legal advice and does not and is not intended to create an attorney-client relationship. The law may vary depending on the state in which you reside. It is intended only to give some direction in which to seek assistance.
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