Experienced Legal Advice for Individuals and Families Creating Estate Plans in Westchester County

It’s often incredibly difficult to contemplate our own mortality, let alone consider how our loved ones will get by after we are gone from this earth. For many of us, we try not to think about these subjects, pushing them aside and believing that our future selves will handle these and other issues at a later time. However, the future is coming fast, and none of us truly knows how much time we have, making the importance of these and other matters critical to consider today rather than tomorrow. While these topics are obviously part of what it means to be human, there are also legal issues that must be contended with before death to make matters easier for our surviving family members throughout the probate process and other proceedings. One of the surest ways to act today and achieve some peace of mind for the future is to create a comprehensive estate plan, which is often built around a last will and testament at its center.

With a valid will in place, you can ensure that your final wishes are carried out and that your estate is handled the way you want it to be upon your death, including determining how assets are distributed to your beneficiaries or heirs-in-law. When beginning the estate planning process, we encourage you to speak with a licensed law firm with extensive experience handling these and other practice areas to ensure that you fully understand the documents you are completing and submitting.

What is a Will and Why Do You Need One?

Wills are legal documents that establish how your assets will be distributed to others at the time of your death. In your last will and testament, you can determine who will be your designated beneficiaries of tangible property, such as personal valuables, as well as any remaining cash, stocks, real estate, and specific other property. The document also names an executor to administer the estate during the probate court process, during which the will must be verified and put into action.

These and other decisions must be clearly established by your will, trust, or other estate planning documents, or else state laws will determine how surviving assets are distributed to beneficiaries and heirs. One of the strongest recommendations that any estate planning lawyer can pass along to potential clients is that they should take the immediate steps to draft a valid will that is executable within their state.

When you create your will, you must make all your wishes clearly understood with sufficient details to avoid any potential misinterpretations or disputes between surviving loved ones. Additionally, we recommend that wills be regularly updated to reflect changing family dynamics or economic situations.

Are There Different Types of Wills?

There are several types of wills available for estate planning in New York. The most common type of will is the last will and testament, which allows the person making the will to determine how their property is distributed after their death, but more complex wills can address other questions and concerns.

Other types of wills in New York include the following:

• Living wills outline an individual’s health care decisions in the event they are incapacitated due to illness or injury and unable to speak for themselves. A living will instructs others on the type of medical treatment or interventions to be performed in specific circumstances.
• Testamentary trusts are usually created in a last will and specify how trustees should manage trust assets for the benefit of designated beneficiaries in the event of the trust creator’s death.
• Pour-over wills are typically created in conjunction with existing trusts or testamentary trusts to ensure that remaining estate assets are equally divided between beneficiaries according to the language of the documents.
• A family will is explicitly designed for families who wish to leave all or a substantial part of their estate in equal shares among surviving family members at different ages or financial situations.
• Holographic wheels are handwritten documents that may not necessarily require witnesses, but still must adhere to state requirements for them to be enforceable.
• Codicils are amendments to wills that update the will with new information after the will has already been drafted.

What Are the Requirements of a Valid Will in New York State?

Many strict requirements that must be met for a will to be considered valid in New York State. Failure to meet these criteria will render the document unenforceable, potentially leading to unforeseen consequences and chaos after your death.

Among the basic requirements for a valid New York will include the following:

• The maker of the will, also known as the testator, must have testamentary capacity and be of sound mind and memory.
• The testator must be at least 18 years old.
• Wills must be signed by the testator. If this is impossible due to physical constraints, the will must be signed in the presence of the testator, at the testator’s direction, by a trusted party.
• In almost all circumstances, the testator must sign the will in the presence of at least two witnesses who do not stand to benefit from the contents of the will.
• Valid wills are required to be in written format in most cases. There may be certain exceptions for oral wills, but these are highly irregular.
• While not mandatory, it is recommended to include a self-proving affidavit to expedite the probate proceedings.
• Designating an executor in the language of the will also holds incredible significance in ensuring that the document operates correctly.

What Are the Potential Consequences of an Improperly Executed Will?

Failing to meet the legal requirements for drafting and executing a will can lead to unexpected litigation and a will contest, rendering the document invalid in court. In such situations, intestacy laws determine how assets are distributed.

In addition to triggering intestate distribution of assets and taking decisions away from the deceased, invalid wills can result in contentious family strife, potentially leading to long-lasting schisms that tear family members apart.

Any errors, no matter how small, can delay probate proceedings, making an already lengthy process even longer.

There may also be unforeseen tax implications if you improperly execute a will, thus depleting the intended inheritance for your surviving family members and loved ones.

What Happens if You Die Without a Will in Katonah, New York?

When someone dies without a will in New York, they have died intestate. In these situations, asset distribution must be governed by state law rather than by the decedent’s final wishes. Additionally, instead of having an executor handle probate administration, the courts will appoint an estate administrator to handle these tasks.

Essentially, New York determines who is entitled to a person’s assets upon death through intestate succession. For example, if the decedent was married at the time of their death, their spouse stands to inherit the bulk of their assets, while the rest will be divided between any potential children they might have had.

To ensure your wishes are carried out, it’s vital that you make your preferences known and set expectations well in advance of your death. Drafting a valid will provides security and peace of mind that cannot be accomplished without this estate planning document. To learn more, please get in touch with our estate planning and elder law attorneys today.

Contact Our New York Law Office to Request a Free 30-Minute Case Evaluation with Our Legal Team Today

Our New York law offices have years of experience representing our clients and their family members in various matters related to estate planning, including drafting, reviewing, revising, and contesting wills. We practice law with a commitment to excellence and a connection to our clients, aiming to protect their rights and help them reach their goals at affordable prices. In addition to serving families in Katonah, NY, we also represent clients throughout Westchester County, including White Plains, Somers, and other areas.

To learn more about the benefits of retaining our legal representation for your estate planning concerns, please get in touch with our firm to schedule your free 30-minute case review.

Call our offices at 845-682-5572 to get started today.