New York Affidavit That All the Estate Assets Have Been Distributed to Devisees by Executor or Estate Representative with Statement Concerning Debts and Taxes

• Category: Oil Gas and Minerals - Affidavits
• State: Multi-State
• Control #: US-OG-015
• Format: Word; Rich Text

Description

Some states do not provide for the formal closing of an estate, or that an order by entered to that effect. On being advised that an estate has been closed, and distribution of the estate's assets are to be made to devisees, a purchaser of production may request some evidence that all debts and taxes have been paid or provided for. This Affidavit provides evidence that an estate is closed, and debts and taxes are paid or provided for. A New York Affidavit That All the Estate Assets Have Been Distributed to Devises by Executor or Estate Representative with Statement Concerning Debts and Taxes is a legal document required in the state of New York to verify the completion of estate distribution by an executor or estate representative. This affidavit serves as proof that all the assets of the deceased person's estate have been properly allocated to the beneficiaries, known as devises, as stipulated in the decedent's will. The affidavit includes a statement concerning debts and taxes, which addresses the outstanding financial obligations of the deceased person and ensures that all debts, including taxes, have been settled before the distribution of assets. This statement is crucial to affirm that the estate has been appropriately managed, all obligations have been fulfilled, and only the remaining assets are transferred to the devises. The New York Affidavit That All the Estate Assets Have Been Distributed to Devises by Executor or Estate Representative with Statement Concerning Debts and Taxes may have variations based on specific circumstances or requirements, such as: 1. Affidavit by Executor: This type of affidavit is filed by the named executor in the decedent's will. It states that the executor has adequately managed the estate by distributing assets to the devises, settling debts and taxes, and ensuring compliance with legal procedures. 2. Affidavit by Estate Representative: In cases where the deceased person did not name an executor in their will, an estate representative, usually appointed by the court, files this affidavit. It serves the same purpose as the executor's affidavit, confirming that all estate assets have been properly distributed to the devises. 3. Affidavit for Small Estates: New York also provides a simplified process for small estates, where the total value of assets falls below a certain threshold. In such cases, a modified version of the affidavit may be necessary, addressing the unique requirements and limitations applicable to small estates. Keywords: New York Affidavit, Estate Assets, Distributed to Devises, Executor, Estate Representative, Statement Concerning Debts, Taxes.

A New York Affidavit That All the Estate Assets Have Been Distributed to Devises by Executor or Estate Representative with Statement Concerning Debts and Taxes is a legal document required in the state of New York to verify the completion of estate distribution by an executor or estate representative. This affidavit serves as proof that all the assets of the deceased person's estate have been properly allocated to the beneficiaries, known as devises, as stipulated in the decedent's will. The affidavit includes a statement concerning debts and taxes, which addresses the outstanding financial obligations of the deceased person and ensures that all debts, including taxes, have been settled before the distribution of assets. This statement is crucial to affirm that the estate has been appropriately managed, all obligations have been fulfilled, and only the remaining assets are transferred to the devises. The New York Affidavit That All the Estate Assets Have Been Distributed to Devises by Executor or Estate Representative with Statement Concerning Debts and Taxes may have variations based on specific circumstances or requirements, such as: 1. Affidavit by Executor: This type of affidavit is filed by the named executor in the decedent's will. It states that the executor has adequately managed the estate by distributing assets to the devises, settling debts and taxes, and ensuring compliance with legal procedures. 2. Affidavit by Estate Representative: In cases where the deceased person did not name an executor in their will, an estate representative, usually appointed by the court, files this affidavit. It serves the same purpose as the executor's affidavit, confirming that all estate assets have been properly distributed to the devises. 3. Affidavit for Small Estates: New York also provides a simplified process for small estates, where the total value of assets falls below a certain threshold. In such cases, a modified version of the affidavit may be necessary, addressing the unique requirements and limitations applicable to small estates. Keywords: New York Affidavit, Estate Assets, Distributed to Devises, Executor, Estate Representative, Statement Concerning Debts, Taxes.