A small estate still deserves careful attention

What the $50,000 limit means

New York law defines a small estate as one with personal property having a gross value of $50,000 or less, excluding certain property set aside by law for a surviving spouse or children under 21. Gross value is not simply the amount left after subtracting bills. Eligibility needs an asset-by-asset review.

The kind of property matters

Voluntary administration does not authorize a transfer of real estate. Tell the attorney about any house, land, condominium or cooperative apartment, including how it was owned. Do not decide eligibility from an estimated bank balance alone. Possible personal injury or wrongful death claims also require separate attention.

Know what the court documents allow

This procedure may be available with or without a will. The eligible person applies to the Surrogate's Court, and certificates identify assets the voluntary administrator may collect. The administrator must account for the property and follow the applicable rules for expenses, debts and distribution.

Start with the records you have

Bring the death certificate, any original will, family information and available financial records. Law Office of Andreina I. Rosa, Esq.'s Mount Vernon office serves Westchester, all five New York City boroughs and Nassau County. Call 646-899-4969 to discuss the estate.

• Accounts and their approximate values at death.
• Ownership and beneficiary information.
• Bills, funeral expense records and any known claims.