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How to Write a Living Will
Estate Planning

How to Write a Living Will

Writing Living Wills Is Easy! You can get Living Wills to deny any clinical treatment, including life-supporting treatment. However, you can’t utilize this decision if

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What is a probate lawyer?
Estate Planning

What is a probate lawyer?

Probate Lawyer Near Me A Probate Lawyer offers legitimate guidance and helps to the individual delegate or agent of a bequest through the probate interaction.

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Guardianship

All About Guardianship in New York Welcome to Morgan Legal Group P.C., your trusted source of information and guidance on the complex topic of guardianship

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Marital Agreements
Estate Planning

Marital Agreements

ESTATE PLANNING lawyer & Marital Agreements ESTATE PLANNING lawyers give contracts that are made through the partners in a marriage to alter the rights. Obligations

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Immigration lawyer salary NY
immigration

Immigration lawyer salary NY

The legal guide pays New York City. Movement attorneys are the lawyers that arrangement with migration problems for the sake of folks as nicely as

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What is a Green Card?
immigration

What is a Green Card?

A green card is basically an authorization document that allows you to live and work freely in the USA and enjoy the same benefits and

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What is a Special Needs Trust in NYC?
Estate Planning

What is a Special Needs Trust?

Special Need Trust A special need trust is almost identical to the trust you know. However, there exist a huge difference. A special need trust

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Estate Planning Misconceptions
Estate Planning

Best Estate Planning Misconceptions

Estate planning remains one of the frequently misinterpreted term throughout the world, although it is being widely encouraged and practiced in some part of the

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Guardianship Attorney NYC
Estate Planning

Guardianship Attorney NYC

A guardianship is an important legal role that is typically appointed by the probate court. Guardianship is an essential legal tool in decisions making process

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probate attorney near me 10039
Estate Planning

Probate attorney near me 10039

NY Probate Probate is the legal process during which your estate will be settled and distributed. More broadly speaking, it is the legal procedure carried

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Estate planning is very important, if you value the future and financial security of your loved ones and family. There are several misconceptions surrounding estate planning and this is because many people lack proper understanding of what this planning entails. Some people believe that estate planning is meant for the rich alone; while some people have the mindset that estate planning is meant for the old. Estate planning is meant for both the rich and the poor, and you shouldn’t wait till you start growing white hair before you consider planning your estate.

What is your estate?

Basically, your estate is regarded as your net worth at any point in time. This can include your assets, intellectual properties, etc. Those cars you own, the private jet, offshore account, investment, insurance, etc. comprises of your assets. As you know, when you die, these things won’t be buried with you, neither will they be transferred to a family member or your spouse without due process. Probate will have to be carried out before anything can be transferred.

What happens when you die without and estate plan?

Some people fail to plan their estate while alive and when they die, there exist no plan or will that states how their estate should be managed or shared. In such situation, the government steps in. For instance if that should happen to an individual who resides in New York, his or her estate will be managed and distributed based on the intestate law of New York.

If you die without an estate plan, your friends, family, and loved ones will all battle for a portion of your estate. Those who fill they are entitled to a portion of your estate will file lawsuit in court. Thing can get messy if it gets out of hands.

What is a Will?

A will is simply a legal document that holds the wish of the decedent. This document contains important information like the name of the estate executor, the names of all beneficiaries including the portion of the estate, assigned to them, etc.

An estate executor or estate administrator is an individual chosen by the estate owner to act on his or her behalf after death. It is the duty of the estate executor to handle the probate process on behalf of the estate owner and the beneficiaries.

Probate New York

The probate process is a little different in the City of New York. In New York, your will undergoes pro bate only if you kicked the bucket with an asset that is worth $30,000 or more. Before such a will becomes effective legally, it must be probated by the surrogate’s court situated in the country where the individual kicked the bucket.

In New York, for a will to be valid, it must be signed in the presence of a minimum of two witnesses and each of these witnesses must sign in the presence of each other. Also, a valid will has to be well written, it should also contain (accurately) the wishes of the estate owner.

Estate planning is very important. Several people are not aware of the importance of estate planning. Estate planning is one way to plan for the future of your spouse and those you love. If you die without planning your estate, your asset will be managed and distributed based on the intestate law of New York. This process is often stressful, expensive, and time-consuming.

Probate Attorney New York

Because the probate process can be quite complicated, an estate executor may require the help of a probate attorney. A good probate attorney can assist you with the probate process, thus making it less stressful than it is generally known to be. A probate attorney boast of not just the experience, but the expertise, and resources to ensure that all goes well with your estate.

During a difficult time like the probate process, you need someone that knows the system inside out, someone that can tell you what to expect and what you need to do when confused. A probate attorney can also help in the preparation of an estate plan. So if you have been named as the executor of an estate or you need assistance for that estate plan of yours, you can contact our qualified probate attorneys.

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