Benefits of an Attorney-Drafted Will
Having control over the disposition of your assets after you pass away is important to most people. One of the best ways to ensure that your wishes will be carried out is to make a valid New York. However, many people make the mistake of doing their own will or failing to update an existing will whenever an important event occurs in their life such as a marriage, birth of a child or divorce. This can cause a myriad of problems after you pass away for your heirs and family.
If you prepare your own will, it may not meet all the necessary formalities under New York law. This could result in the will being challenged in court by an unhappy heir or beneficiary, or your will may not even being admitted to probate at all. If your will is found to be invalid or you fail to make a will and die intestate (without a will), your assets are subject to disposition under the New York intestate laws.
Drafting our own will could also result in the following:
- Additional legal fees establishing a probate or intestate matter or fighting a will contest matter
- Your family may experience additional emotional distress at a time when they are grieving
- Your heirs and beneficiaries may experience delays in receiving your assets
- Your heirs and beneficiaries may not inherit your assets in the manner you intended
- Additional estate taxes may be incurred
Under the New York Intestate Succession laws, if you have no children, then your surviving spouse would inherit your entire estate. However, if you have two minor children, your surviving spouse inherits the first $50,000 and the remaining portion of your estate is divided 50/50 between your spouse and your children. If your children are too young, you may not want them to inherit those assets now. Having a valid will in place will avoid this problem and many other problems for your family.
Why Hire a NYC Estate Lawyer?
Hiring a probate attorney in New York can help you avoid costly estate planning mistakes. The attorney will help you make the right estate planning decisions by sitting down with you and going over your options, including explaining the New York probate and estate laws to you. Mike St. Pre will draft a will and/or trust for you making sure the documents meet the legal formalities required under New York laws. So when it does come time for your assets to be distributed to your beneficiaries, they will be able to receive them in a quick and timely manner without having to worry about delays and incurring additional legal fees and court costs. St. Pre Estate Law Firm can also prepare other legal documents for you including a health care proxy, living will and power of attorney, assist with elder care matters and other estate matters that may arise later on such as filing estate tax returns.