New York Estate Planning Attorney

DO YOU NEED A LAST WILL & TESTAMENT?

• Do you care who gets your property if you die? • Do you care who gets your money if you die? • Do you care who will manage your business and personal affairs after you die? • Do you care who is appointed guardian of your minor children if you die? • Do you want to save or avoid estate taxes? • Do you want your beneficiaries to avoid probate? If you answered yes to any of these questions, you need a will at minimum and possibly more sophisticated estate planning.

Is estate planning only for the wealthy?

No. Estate planning is not just for the wealthy, a will guarantees that whatever personal belongings and assets you do have will go to family or the beneficiaries you specify. Without a will, your assets are distributed in accordance with the laws of the state (intestacy).

Who will get your property if you die without a will (intestate)?

If you die intestate (meaning without a valid will or trust) your assets will be doled out according to the laws of the state in which you live. You might be surprised to discover that your estate may be distributed in ways you never expected. Estate planning may avoid having your assets go to unintended beneficiaries. For example, without a will your property may be inherited by cousins that you never met.

If you have young children, a will is a necessity.

Making your wishes known in a will ensures that you get to choose your children's guardian should you pass away unexpectedly.

A valid will provides your loved ones with some peace of mind.

If you die suddenly without a will, you'll be subjecting your family and loved ones to disarray and anxiety during what is already a difficult time.

You get to name the person or persons that will manage your estate.

Through your will, you appoint an executor or executors that will wind up your affairs and distribute your estate. You are afforded the opportunity to name persons or institution that you feel are trustworthy and will do a good job. If you die without a will, the court will appoint an administrator according to the law of the state in which you live.

Are estate plans expensive?

Simple wills do not cost a great deal of money, yet provide a great benefit to your loved ones at difficult time. Please keep in mind that an experienced estate practitioner will not provide you with a "one size fits all" will. Since an attorney will tailor your document to fit your situation, the cost may vary depending upon the circumstances.