What does a Probate Attorney do if assets are found after Probate?

Share This Post

What does a Probate Attorney do if assets are found after Probate?


The Discovery of new assets during or after the entire probate process can have a great impact on the estate’s tax liability. It also implies that some of the probate steps that have already been taken by the court will be required to be repeated. 

Locating all assets when Probate Attorney found assets after probate

Probate, also known as estate administration. Therefore, it is the entire process involves the identification of deceased assets and liabilities. At the same time, distribute the same to their beneficiaries. The first hurdle that needs to get overcome in the probate is identifying the deceased person’s estate assets. So, what happens if a probate attorney finds assets after probate. 

The probate lawyer can use different tools to try and identify every asset. That is to deal before the commencement of the estate administration process. It is possible to uncover paperwork for unknown assets by following some simple but time-consuming steps. 

Also, it is always advisable to contact all the relevant banks and other financial institutions where the deceased had accounts. They can help in advising on the current situation regarding the potential accounts. Thus, the assets of the deceased need to complete.

Probate Attorney Discovering additional assets after probate

Hopefully, the estate administrator will not make mistakes. Thus, finding the additional assets after probate must avoid. However, it is possible that even after the best intentions and preparations. 

One might discover some additional assets during or after the completion of the probate process. In such a case, the individual needs to follow the correct steps, and this might mean going back over the entire work that one thought they had completed.

If additional assets discover after the issuance of the grant of probate, then there will need to value new assets. Also, instructions from the institutions managing the assets like a bank will know if the grant of probate requires them to release the asset to the specific person as the personal representative.

In the first place, including the application had important to add value to the newly discovered assets of the estate.

What does Probate Attorney do if one finds status after probate?

The executor was responsible for notifying the court that handles the probate process initially after discovering additional assets. It is at the discretion of the court to allow the executor to distribute the newly found assets among beneficiaries or heirs without reopening the estate. 

However, some states might require opening a new probate claim. In such a case, either the same person can act as executor or a new one can be appointed. The executor or probate lawyer will have to go through the same steps or processes that require probate to disburse the newly-discovered assets.

Additionally, creditors who are able to pursue a claim successfully during the initial probate may authorize to make a new claim against these additional assets. It is based on the deceased person’s will that the new assets are distributed among the beneficiaries or heirs. 

Inheritance Tax

This change in the total value of the estate could also make the new estate liable for the inheritance tax that might not be liable before. Or, in case the estate was already taxable, the court might demand the executor pay more inheritance tax on the increased assets.

In such cases, it is important to report valuations of the new estate to the customs department. It arranges the outstanding tax and any interest accrued on the tax account. After six months of the descendant’s death that the court incurs the interest on the total sum of inheritance tax.


It is the tax liability of the estate which has a major impact after the discovery of additional assets. After completion of the probate. However, the beneficiaries are eligible to inherit these newly found assets. A probate lawyer or executor needs to repeat some probate steps to make the same possible, which can consume time. 

More To Explore

Subscribe to our Newsletter

legal will Long Island lega lwill New York legal will NYC legal will Queens legal will Staten Island living trust Brooklyn living trust Long Island living trust New York living trust NYC living trust Queens living trust Staten Island medicaid trust Brooklyn medicaid trust Long Island medicaid trust New York medicaid trust NYC medicaid trust Queens medicaid trust Staten Island New York estate planning legal New York probate lawyers NYC guardianship lawyer probate attorney Dutches county probate attorney Kings county probate attorney Nassau NY probate attorney Orange county probate attorney Putnam county probate attorney Queens probate attorney Rockland probate attorney Suffolk probate attorney Sullivan county probate attorney Ulster county probate Brooklyn lawyer probate lawyer Kings county probate lawyer Long Island probate lawyer Nassau probate lawyer Queens probate lawyers New York probate lawyers NYC probate lawyer Staten Island probate lawyer Suffolk probate lawyers Ullivan county probate New York attorneys probate New York lawyer probate NYC lawyer probate NYC lawyers probate property attorney probate property lawyer revocable trust Brooklyn revocable trust Long Island lawyers directory NY revocable trust New York revocable trust NYC revocable trust Queens revocable trust trust Bronx will attorney Brooklyn will attorney Long Island will attorney New York will attorney NYC will attorney Queens will attorney Staten Island will lawyer Brooklyn will lawyer Long Island will lawyer New York will lawyer NYC will lawyer Queens will lawyer Staten Island wills and trusts Bronx Wills and trusts Brooklyn wills and trusts Long Island wills and trusts New York wills and trusts NYC wills and trusts Queens wills and trusts Staten Island wills Brooklyn Estate Planning Boca Raton Miami Lawyer Near Me Lawyer Magazine Estate Planning Miami Lawyer wills Long Island wills New York wills Staten Island estate planning lawyers NYC probate New York lawyers trust and estate law firms estate planning attorneys Brooklyn estate planning lawyers Brooklyn estate planning Brooklyn estate planning New York attorney estate planning New York attorneys estate planning attorney Brooklyn estate planning New York lawyer estate planning New York lawyers guardianship attorney Brooklyn guardianship attorney Long Island guardianship attorney New York guardianship attorney NYC guardianship attorney Queens guardianship attorney Staten Island guardianship lawyer Brooklyn guardianship lawyer Long Island guardianship lawyer New York Estate Planning Lawyer NYC guardianship lawyer Queens guardianship lawyer Staten Island Near Me Dental Near Me Lawyers