Legal Question in Wills and Trusts in New York

Where are ITF/POD CD & savings accounts listed on Queens Count, NY Estate Administration Inventory of Assets form Rule 207.20?

The form I was sent by Queens Surrogate Court, NY Estate Administration Inventory of Assets form Rule 207.20 that must be filed within 9 months of appointment is a 1 page form that does not list any area for Beneficiary bank accounts like CD or savings/checking accounts that are POD/ITF (have a beneficiary listed on the account). The form has 2 categories: Assets Individually Owned by Decedent OR Payable to Estate and Non-Estate Assets which only covers 401Ks, IRAs & insurance payable to beneficiaries and jointly held property. There’s no mention of Beneficiary bank accounts. So, on this form are the Beneficiary bank accounts (ITF/POD) included in Assets Individually Owned by Decedent even though they aren’t probate assets or should they be left off the form entirely? I thought the asset inventory included all assets (Even POD/ITF) but that non probate assets would be identified here. I’ve heard that NY Estate Administration forms have a separation of probate and non-probate assets but it’s not so here. Is there some later from that must be filled out with more details and that specifies Probate & Non Probate assets specifically?

Asked on 6/13/18, 10:40 am

1 Answer from Attorneys

Richard Bryan Richard Bryan Attorney PC

Put it as non-probate assets on the line for 'other' or write in "bank accounts payable to named beneficiaries" somewhere it fits near "life insurance". Make a separate line if you need to.

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Answered on 6/14/18, 6:23 am

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