Finding Every Asset the Estate Is Owed
The Part of Probate Nobody Warns Executors About
When a loved one passes, the paperwork and grief arrive at the same time. Most executors assume the hard part is dividing assets among beneficiaries — but before anything can be distributed, every asset the decedent owned must first be found, documented, and collected. Bank accounts, investment portfolios, real property, life insurance proceeds, retirement accounts, business interests, digital assets, and personal property all have to be identified and properly accounted for before probate can move forward. Missing even one account can delay the entire process or expose the executor to personal liability.
Our estate asset discovery work on Long Island is built around one goal: making sure nothing falls through the cracks.
Why Executors Shouldn't Try to Do This Alone
Executors carry personal legal responsibility for the completeness and accuracy of the estate inventory. If an asset is overlooked and a beneficiary later discovers it, the executor can be held accountable — even if the omission was unintentional. The Surrogate's Court requires a formal accounting, and that accounting must reflect every asset the estate held.
We take on this burden so you don't have to navigate it by yourself. Our team handles the research, the institution coordination, the documentation, and the court filings that accompany asset discovery — and we do it under a fixed fee agreed to in advance, so there are no billing surprises while you're already managing an emotionally difficult process.
This phase of probate administration is more involved than most families expect. We work methodically through every category of potential asset, using a structured process developed through years of estate administration experience in Nassau and Suffolk counties.
Our asset discovery and collection work includes:
- Reviewing the decedent's financial records, tax returns, and correspondence to identify accounts and holdings
- Searching for unclaimed property through New York State and other jurisdictions where the decedent held assets
- Coordinating with financial institutions to obtain date-of-death valuations and transfer or retitle accounts
- Identifying and appraising real property, vehicles, and tangible personal property
- Locating and collecting life insurance proceeds payable to the estate
- Tracking down retirement account balances and determining beneficiary designations
- Investigating business interests, partnership stakes, and closely held entity ownership
- Documenting digital assets, including online accounts, cryptocurrency holdings, and intellectual property
- Preparing a comprehensive inventory for the Surrogate's Court and for the estate accounting
What Asset Discovery and Collection Actually Involves
Serving Executors Across Nassau and Suffolk Counties
We work with executors and administrators throughout Long Island, including families in Garden City, Huntington, Massapequa, and surrounding communities. Whether the estate is straightforward or involves multiple asset classes spread across several institutions, we bring the same structured approach and the same commitment to thoroughness.
Probate administration doesn't have to be overwhelming. When you work with us, you have a team that knows the Surrogate's Court process, understands New York estate law, and handles the procedural complexity while you focus on your family.
Every plan we build starts with your family's goals, then draws on whichever services fit your situation. Learn more about Estate Planning, Probate Administration, Kids Protection Planning, Asset Protection, Elder Law, Special Needs Planning, and LIFT Planning.
What Clients Say
Serving Long Island and New York City
Jason R. Breit, Esq. P.C. provides probate administration services for individuals and families throughout Long Island and New York City, including:
- Melville, NY
- Garden City, NY
- Huntington, NY
- Massapequa, NY
- Long Island, including Nassau and Suffolk Counties
- New York City
Prefer to meet remotely? Jason offers
estate planning consultations by Zoom, providing the same personalized guidance whether you’re on Long Island, in New York City, or meeting at his Melville office.
Common Questions About Estate Asset Discovery on Long Island
What happens if we find an asset after probate has already closed?
A reopened probate proceeding may be necessary to administer the newly discovered asset. The process depends on the asset type and its value. We can advise you on the most efficient path forward if this situation arises.A reopened probate proceeding may be necessary to administer the newly discovered asset. The process depends on the asset type and its value. We can advise you on the most efficient path forward if this situation arises.Do I have to find all the assets myself before hiring an attorney?
No. That's exactly what we're here to help with. Many executors come to us with incomplete information, and we build the full asset picture from there using financial records, tax returns, and direct outreach to institutions.No. That's exactly what we're here to help with. Many executors come to us with incomplete information, and we build the full asset picture from there using financial records, tax returns, and direct outreach to institutions.How long does asset discovery typically take in a New York estate?
It varies based on the complexity of the estate. A straightforward estate with accounts at one or two institutions may take a few weeks. Estates with real property, business interests, or assets held in multiple states can take several months. We give you a realistic timeline at the outset.It varies based on the complexity of the estate. A straightforward estate with accounts at one or two institutions may take a few weeks. Estates with real property, business interests, or assets held in multiple states can take several months. We give you a realistic timeline at the outset.What is unclaimed property, and could the estate have some?
Unclaimed property refers to dormant financial accounts, uncashed checks, or other funds that have been turned over to the state because the owner couldn't be located. New York State holds billions of dollars in unclaimed property. We routinely check the state registry as part of our asset discovery process, and we search other states where the decedent may have held accounts.Unclaimed property refers to dormant financial accounts, uncashed checks, or other funds that have been turned over to the state because the owner couldn't be located. New York State holds billions of dollars in unclaimed property. We routinely check the state registry as part of our asset discovery process, and we search other states where the decedent may have held accounts.What does asset discovery cost, and how is the fee structured?
We charge fixed fees agreed to in advance — not hourly rates that compound as the process unfolds. You'll know what the engagement costs before we begin, which makes it easier to plan and removes the anxiety of an open-ended billing relationship.We charge fixed fees agreed to in advance — not hourly rates that compound as the process unfolds. You'll know what the engagement costs before we begin, which makes it easier to plan and removes the anxiety of an open-ended billing relationship.
Start With a Conversation About the Estate
If you've recently been named executor or administrator of a Long Island estate and aren't sure where to begin, we're ready to help. Our probate administration team works with families throughout Nassau and Suffolk counties, guiding executors through every phase of the process — from the initial asset inventory through final distribution to beneficiaries.
Reach out to schedule a consultation and get a clear picture of what comes next.