In this episode of "Affluence and Advocacy," hosts Matt Skye and Natalia Shishodia delve into the intricacies of ancillary probate. Natalia, a seasoned New York City attorney specializing in real estate and estate planning, explains the distinction between primary probate and ancillary probate. Listeners will learn that primary probate occurs in the jurisdiction where the deceased resided, while ancillary probate is necessary when they own property in another state or country. Natalia illustrates this with the example of a UK investor who passes away, leaving behind a property in New York. The episode emphasizes the importance of navigating the probate process correctly to ensure that an individual's assets are distributed according to their wishes, highlighting the critical role of a skilled attorney in these situations. Tune in to gain valuable insights into how ancillary probate can impact estate planning and asset distribution across jurisdictions.
Timestamps:
[00:02:20] Ancillary probate complexities.
[00:06:09] Ancillary probate delays and impact.
[00:12:10] Trusts to bypass probate process.
[00:13:25] Ancillary probate professionals involved.
About The Show
"Affluence & Advocacy" is a compelling podcast series focused on New York real estate law, hosted by Natalia Sishodia, an experienced attorney recognized for her expertise in real estate, business law, elder law, estate planning, and taxation. This podcast provides invaluable insights into the legal landscape of New York, specifically tailored for high-net-worth clients and international buyers navigating the complexities of real estate transactions.
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