Each State has its law that governs the estate planning process. In New York, the estate planning process is almost identical to how it is done in other states. If peradventure you fail to plan your estate while alive and you eventually kick the bucket, your assets will be shared and distributed based on the intestate law of New York. This simply denotes that, you won’t have a say on how your assets should be shared. The process however can get messy. It can result in misunderstanding between close family member and friends which could lead to damaged relationships. I bet you would definitely want to avoid this. This is one of the many reason you need an estate attorney.
Here are other vital reasons:
- Your estate plans are intact and safe with an attorney
The safest place to keep your estate document is with you estate attorney. The attorney can ensure the safety of the signed and created documents. It is better to have your estate plans secured, private until it is time for it to be implemented. So far you have the original copies of your documents with the attorney, recreating copies of it would easy when needed, and all vital signatures will still be intact.
- You have a legal third party influence.
An estate planning attorney will act as the legal backing you need. Should there be any dispute or contest against your plans; be sure you have adequate answers through an attorney. There is often a risk that arrangements or estate plans made without a legal backing or attorney could go into probate with the estate’s families or heirs disputing the specifics. An estate planning attorney, however, can step in and act as an influence of third parties, also the attorney can act as a custodian of the original copy of the estate plan preventing it from being revoked.
- Proper understanding of the state laws on estate plans
An estate attorney will guide you through creating estate plan with proper formalities and protocol. With this, you stand at better chances of having your plan adequately executed. On the other hand, a do it yourself plan will leave you and your loved ones to chances of having your estate document, invalid or revoked. New York state laws dictates document that can be included in an estate plan. These laws also control the formalities, the processes of signing and implementing an estate plan document. Typically, a wrong detail or inclusion supplied in estate plans would make it invalid and probably revoked. You need someone well informed and who knows all the state rules on estate planning.
- The attorney will act as the estate’s executor.
An executor is always needed to implement estate plans. Having your estate planning attorney also act in the capacity of estate executor will prevent negative occurrences or issues when implementing your plans. The attorney can function in the capacity of an executor and even better. Since being involved in making the plans, ensuring that it is properly executed will be smooth. Some of the duties of the executor include; overseeing the distribution of assets to named beneficiaries, paying up estate taxes and debts owed to creditors, ensuring that all asset owned by the deceased is kept safe, notifying the court of any changes to estate plan.
- Defend you interest should there be a Will contest.
Certain instances of rift among estate beneficiaries makes court implementation of a Will take longer than usual. While some of the named beneficiaries feel they have been left out other may feel that they estate document was signed or created under duress or the will maker was coerced to make such plans. These complaint lead to messy probate situations. You need an estate attorney to defend your interest and act as a probate attorney.
Will contest generally increases probate duration. Notwithstanding, you still need the legal backing of an estate planning attorney.
Contact our estate planning attorney closest to you today.
When planning your estate, you may require the help of an expert. An estate planning attorney boast of the necessary skills, knowledge, and experience to walk you through the estate planning process. With the assistance of the attorney, you will plan an estate that conforms to your wishes and the laws of your state.
If you live in New York and you have finally decided to plan your estate but you need advice or assistance on how to get it done easily, you can contact us. We will provide you with the best estate planning attorney.