Lawsuit Settlement Administration Guide

Summary

In New York State, you can act as a voluntary administrator if the total value of the decedents personal property is $30,000 or less and the decedents spouse and/or children are the only ones entitled to the estate. For estates exceeding this amount, an executor or administrator must be appointed by the Surrogates Court.

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Settled a lawsuit. The lawsuit was regarding my deceased wife. The settlement amount was $*, however after legal and other fees the final amount will be closer to $*. Can I act as a voluntary administrator in NYS
Hello ****. In NYS, you can act as a voluntary administrator if:
- The total value of the decedent's personal property is $*,* or less.
- The decedent's spouse and/or children are the only ones entitled to the estate.
However, for estates over this amount, an executor or administrator must be appointed by the Surrogate's Court.