New York Wills Attorney
Why is it Important to Create a Will?
As you develop an estate plan to prepare for the future, making a will should be your first priority. Drafting an effective last will and testament is the first step to ensuring that your assets are handled according to your wishes after you are gone.
Wills serve many purposes, including:
- Appointing a guardian for your children
- Protecting your business
- Transferring assets to loved ones or charities
Although wills are the most common means for individuals to state their after-death wishes, they can be complex. You will want to ensure that your document is properly written for the ease of transition between family members. At Novick & Associates, P.C., our New York estate planning lawyers can guide you through the various aspects of estate planning. Call us today at (631) 547-0300 !
Preventing Common Will Issues in NY
Not making a will before your death, also known as intestate, will cause your assets to be transferred based on state law. If you have incapacitated children or minor children, the state will select a care provider on your behalf if you have not left a document that specifies your wishes. In addition, having a will can place your company in the proper hands when you are not around to handle business affairs.
Legal Requirements for Will Creation in New York
Wills typically have multiple functions. By creating a carefully drafted will, you can protect your family even after you are no longer around. Our firm can help you fulfill all requirements for drafting and executing a will to ensure that you leave your family in the best state possible.
Key Requirements for a Valid Will in NY:
- Must be signed and witnessed by at least two people
- Testator must be competent at the time of execution
- Testator must be familiar with his or her assets and members of the family
At Novick & Associates, P.C., our legal team has been helping clients through estate planning and estate litigation in NYC for more than 30 years. As a firm with significant achievements and a reputation for top-quality work, we can help you resolve the legal issues that arise when drafting, contesting, or interpreting a will.
Interpreting Wills and Trusts in New York
Ideally, a will and/or trust is written in clear, unambiguous language. However, there are cases in which these issues are open to interpretation, and there are ambiguities with regard to the division and distribution of assets, the identity of the beneficiaries and tax issues related to the estate. Novick & Associates P.C. has represented interested parties in asking the court for its interpretation of any and all ambiguous language. Every will and trust is written with specific language, some of which can be less than clear with regard to the actual inheritance due to one or more parties, how assets should be divided or other crucial issues.
Consequences of Dying Without a Will in NY
In New York, if you die without a will, your assets will be subject to the intestate succession laws of the state. This means that your estate and property will be distributed to heirs according to New York State law. Generally speaking, this process is often lengthy and can lead to added expense and difficulty for family members.
Under New York's intestate succession laws, if you die without a will and have no living descendants or surviving spouse, your estate is distributed to your parents (if they survive you). If both of your parents are deceased, then the assets in your estate are distributed to your closest living blood relatives. If there are no living blood relatives, the assets pass to the state of New York.
When you create a valid will in New York, you can decide how your estate should be divided and which heirs should receive specific assets. Additionally, when you have a valid will, it is more likely that your wishes will be followed and the probate process may run much smoother.
Expert Will and Trust Analysis by NY Estate Attorneys
If you believe you have a right to claim some portion of an estate and need to get the will or trust evaluated with regard to construction and language and whether a legal action could be successful, a New York estate planning lawyer from Novick & Associates, P.C. can assist you. We are committed to protecting the rights of beneficiaries and are prepared to take action if there has been any miscarriage of justice, ambiguous language in a will or trust or other matter that requires a high level of skill and legal knowledge in estate matters. We believe that if you are a beneficiary or fiduciary, and you need assistance in clarifying a confusing will or trust document, you deserve the highest quality legal counsel to assist you.
Legal issues surrounding wills and trusts and the language in which they were drafted will be decided in Surrogate's Court. Our legal team has over 30 years of experience and has appeared in court on countless occasions to get these issues resolved and to seek the court's decision in matters involving wills and trusts that have ambiguous language that is open to interpretation. We have a high personal interest in protecting the rights of clients that may have rights to some portion of an estate, and can evaluate the construction of the trust with regard to the final distribution of assets when it will be beneficial to our clients.
