A will and last testament is a legal document which expresses your wishes regarding how you desire your property and hard earned assets to be distributed after you die. You may have accumulated wealth in Brooklyn during your lifetime and would have certain wishes concerning these assets. So long you can’t take your estate with you when you die, you have to put into statement or documentation just what you want to happen to those properties. All these wishes are what you draft in a Legal Will Brooklyn.
Most people desire their surviving family members to benefit from their estate when they die. Some without spouse or kids may wish for all their accumulated wealth to go to charity or a dear friend or close relative, but all these wishes would not be known to anyone if you do not document them, and as such, your wishes may never be carried out. Or your beneficiaries may not get the right proportion which you want for them if you fail to put all these details into documentation.
In a Legal will Brooklyn, you are allowed to name an executor who will manage and administer your estate at the event of your death. The so named executor have the legal authority to bring forth your will to the law court and initiate the probate. Probate is a legal process whereby your last will gets validated, and it is conducted in a surrogate’s court in the place where you reside and own asset — in this case Brooklyn. Note that should your will fail to conform to the state laws of Brooklyn, you will becomes invalid and all your wishes void. Hence the need to be very mindful and cautious in drafting a will. As a civilian and mere citizen, there are many statutes which you may not be exposed to. There are lawyers known as estate planning attorneys in Brooklyn specialized in this area of estate laws, who would guide you in drafting your will. Such lawyers work hand in hand with you to ensure that your legal will Brooklyn complies with Brooklyn laws down to the last detail. Why not contact one today?
Importance of having a legal will Brooklyn
The greatest importance of having a legal will is it bestows upon you the power to provide for your spouse, children, relatives or friends (as the case may be) even after you’ve gone. A will gives you full control of who gets what and in what proportion. You may decide to leave very little proportion of your assets to your spouse because he/she already has alot to their name. You can leave your car with a relative or friend, while giving your company over to your child. If you have a child with special needs, you could create a special needs trust to provide for such needs. If you have a minor who is still schooling, you can create an education trust for such a one so there is no fear of dropping out due to insufficient funds. Also, you may have relatives who have neglected you in the past and thus you want them to benefit from nothing of yours. You can clearly state this in a legal will Brooklyn. This eliminates the squabbles and expenses of legal sittings which might emerge as a result of relatives fighting over your property.
What happens when you die without a last will
Some people die without having kids or any living spouse. Or you may have a brother, sister, cousin or uncle who may have neglected you for years. You may not even know the whereabouts of such persons. The people closest to you may be your friends or colleagues at work, or an employee after your heart. Such persons are who you would love to benefit from your estate when you die, but if you do not document this in a will, they wouldn’t receive any dollar from your property. This is because in the absence of a valid last will, the property of a decedent are distributed according to intestacy laws. In Brooklyn, the intestacy laws specifies that your property will be distributed among your siblings, cousins, or other relatives if you have no living spouse or children. To avoid having your hard-earned property falling into your enemies’ or undeserving hands, contact an estate planning lawyer Brooklyn to help you draft a valid legal will Brooklyn today.