Putnam County Wills Attorney
Allow Our Estate Planning Law Firm to Help You Protect Your Family’s Future
It can be challenging to take time to think about what life will be like after you pass away. Even so, no one wants to leave their family struggling to access vital financial resources. One of the most effective solutions to protect your family and future generations is to write a will that outlines your final wishes. Having proper estate planning documents in place can give you the reassurance you need to know that your family is well cared for after you pass away.
The Feller Group, P.C. is a Putnam County law firm dedicated to assisting clients with their legal matters. Contact our law firm today to schedule a free, 30-minute case evaluation, and we will determine how we can assist you.
How are Assets Distributed if a Person Dies Without a Will in New York State?
If a person dies without leaving a will in New York, the state’s intestacy laws govern the distribution of their assets. Many New Yorkers make the mistake of believing that their immediate family members will quickly receive their assets, but in many cases, this is far from the truth.
New York law dictates that the decedent’s closest surviving relatives, such as a spouse and children, should inherit their assets. Under the law, a surviving spouse will receive the entire estate if the decedent had no children. If both a spouse and children survive the decedent, the spouse will receive the first $50,000 of the estate.
The remaining balance is then divided, with one-half going to the spouse and the other divided equally among the decedent’s children.
If the decedent had no spouse or children, estate assets are distributed to immediate family members, including parents or siblings.
What are the Legal Requirements for a Will to Be Valid?
A will is a legal document that must be carefully prepared to ensure it meets all state legal standards. Anyone who is considering making a will must be at least 18 years old. The testator, the person making the will, must be of sound mind and know that they are making a will, their relationship with heirs and beneficiaries is, and the nature of their property and assets.
Other mandatory requirements that must be met for a will to stand up to legal scrutiny include:
- The will must be in writing, as New York does not generally recognize oral wills
- The testator must either sign the will personally or, in their presence, direct a designated individual to sign on their behalf
- The person making the will must tell the witnesses that the document is their Last Will and Testament. This step is known as the publication of the will
- Two witnesses must be present at the time the will is signed
- The two witnesses must also sign the will at the end of the document and provide their current address
Suppose you are concerned about ensuring the validity of a will. In that case, it is recommended that you seek legal representation from a knowledgeable Putnam County estate planning attorney who will address your concerns.
Can Leaving a Will Help My Family Avoid Probate?
A common concern for many New Yorkers is what they can do to help their family avoid probate, which can be costly and time-consuming. Although a will can provide guidance as to your final wishes and who should care for your minor children should you pass away.
To avoid the probate process, you should utilize estate planning resources, such as irrevocable trusts, beneficiary designations, and joint ownership with rights of survivorship. Depending on the circumstances, you may also choose to gift assets to heirs and beneficiaries.
Once a person passes away, the executor named in the will initiates the process of opening an estate, which involves identifying assets, paying debts, filing estate taxes, and distributing assets to the rightful heirs and beneficiaries. During this time, the court will oversee the handling of the estate as it proceeds through the probate process.
It is worth noting that some estates valued at or below a threshold of $50,000, excluding real property, may qualify for a simplified affidavit process, which significantly reduces the probate process.
What Other Documents Should Be Included in a Comprehensive Estate Plan Besides a Will?
Although having a will has several legal advantages, it alone does not provide for all of the necessary resources you will need to protect yourself and your family as you grow older.
Some of the other legal documents that should be included in a comprehensive estate plan include:
- Trusts: Depending on the extent of your financial resources, you may choose to place them in a revocable or irrevocable trust, exempting them from probate
- Durable power of attorney: A legal document that designates an agent of your choice to manage your financial matters should you become incapacitated
- Health care proxy: Designating the person of your choice to make medical decisions should you not be able to communicate your wishes
- Advance directives (also known as Living Wills): These legal documents specify your wishes regarding the medical treatment and end-of-life care you prefer. These documents are essential as they help to eliminate your family from having to guess as to your wishes
Depending on your specific legal concerns, you may also choose to establish a special needs trust for a disabled family member, allowing them to access supplementary funds without jeopardizing their government benefits.
Why Should I Hire an Estate Planning Attorney to Help Me Write a Will?
Because of the intent and long-reaching effects of a will, you must hire an estate planning attorney to ensure it meets all legal requirements. All too often, avoidable mistakes can lead to disputes over the will’s validity and, depending on your family dynamics, costly legal battles. Estates of wills rendered invalid are subject to the state’s intestacy laws.
An experienced estate planning attorney can help you draft a will that complies with all applicable laws and makes your final wishes known. An attorney can ensure that the language used in the will is unambiguous, avoiding any potential for interpretation.
Your lawyer can also address any unique, complex legal situations that could complicate matters, making it hard for your family to receive their rightful inheritance. For example, if you have been divorced and remarried, you will want to provide clear insight for your children from your previous marriage. Your legal representative can also help you explore Medicaid planning options that also offer asset protection strategies.
Contact Our Putnam County Estate Planning Law Office Today to Learn More About Our Legal Services
The Feller Group, P.C., is an estate planning law firm dedicated to assisting clients with their legal concerns. When you come to us for help, you will speak with a Putnam County wills attorney who will professionally evaluate your needs and create a strategic plan tailored to meet your objectives.
Contact our law offices today at 845-682-5572 to schedule a free, 30-minute case evaluation, allowing us to begin working on your case.