A will is an estate planning document by which you can transfer assets to your named beneficiaries after your death. In writing your will, you must consider whom to name as your beneficiaries, what assets or funds they are to receive, and as well name an executor to carry out the instructions on your will. In most cases, a last will be subjected to probate. The probate duration however largely depends on the inclusions in the Will and also how it was created.
Requirements for a valid Will
The legal requirements to write a valid will in New York are consistent with those of other states. They are as follows; the individual must be 18 or older, they must be of a sound mental capacity at the time the will was created, the will must be in writing, it must bear the signature of the testator along with those of at least two witnesses who must be present at the time the testator signs the will, each witness must also witness the signature of the other witness. These requires are however, further subject to the estate laws in New York at a certain time.
Having a Will vs. not having a Will.
When you pass away leaving a will and estate in New York, your will and estate must pass through a court process known as probate before the estate can be distributed according to your will. The executor of the will is faced with a lot of legal responsibilities; probate can often be tiresome, costly and lengthy, but having a professional working with you guarantees the smoothest and shortest probate possible. If you have just found out that you were named as an executor, get help in probating the estate by contacting our offices today.
Estate planning would be more relatable when you consider what happens when you don’t have a valid estate plan. It would be right to say that, a person is decides not to have an estate plan, is planning for intestacy and long probate processes. Looking further, when someone dies without a proper estate plan document, in this case, a will, such individual would be said to have died intestate; meaning dying without a will or estate document. The properties of the decedent in this case would be shared though the intestacy laws of the state. Probate are court processes to determine the validity of a will or estate document. This process could be long and discouraging, however, with certain estate document, like a living trust, probate process could be avoided.
What you need to know about probate and estate planning.
- Probate attorney are vital to the creation of a good Will document.
- Dying without a valid Will leads to intestacy and your estate would be distributed according to the intestate law of the state.
- Probate duration usually depends on the complexity of the estate documents and its inclusions.
- Your personal representation would ensure that your desired beneficiaries gets your estate.
- Once involved in your estate plan, probate lawyer would ensure that no family feud come up during probate of the estate.
- Estate plans can be made to reflect and implement your mid, short and long term plans. However, you can speak with an estate lawyer to know suitable documents that would reflect these plans.
- The chances of success for implementation of an estate plan increases when you chose the right representative.
- Since estate plans are made in preparation for any uncertain life occurrences, you need the right lawyers to ensure your desires and plans are duly implemented.
- Probate attorney would guide you through any probate process. Furthermore, the estate lawyer can step in a play the role of the executioner of your estate plan.
- While other estate document such as last will may go through probate before it can be implemented, the living trust allows transfer of assets without any probate process.
Contact a probate attorney near you.
A probate attorney is need for a smooth probate process and also implementation of your estate plans. The attorney can also act as an executor or personal representative for your estate. Probate duration of an estate plan largely depends on the complexity of the estate, and also inadequacies in estate document. Either way, an estate attorney would help you from creation of estate plan to its implementation.
Contact a probate attorney near you 10038.