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The Importance of Writing a Will
Every person should have a will. You may not be a Rockefeller, but you’ve worked hard to acquire your assets, and you should have the final say about how they are distributed. Your will is also your opportunity to communicate for the last time with your loved ones, making a lasting statement of your affection.
The Cormac McEnery Law Firm works with clients who each have their own unique goals and concerns. Some high-net-worth clients are concerned with bequests to families and philanthropic donations, while clients with more modest holdings tend to focus on directing personal items of special significance toward the appropriate relative. Whatever your concerns, our NY estate planning lawyers will listen intently and draft a will to implement your intentions.
The Cormac McEnery Law Firm works with clients who each have their own unique goals and concerns. Some high-net-worth clients are concerned with bequests to families and philanthropic donations, while clients with more modest holdings tend to focus on directing personal items of special significance toward the appropriate relative. Whatever your concerns, our NY estate planning lawyers will listen intently and draft a will to implement your intentions.
Requirements for a Valid Will in New York
For a will to valid will in New York, it must meet the following requirements:
Oral wills are not valid in New York. Although electronically stored information (ESI) is the wave of the future, New York still insists on hard copies.
The person who made the will (called a “testator”) must sign at the bottom.
An independent person must witness the signing and sign the document after the testator. Courts have ruled that to qualify as a witness, the independent witness must understand the significance of what is happening and have an uninterrupted line of sight to the signing.
These minimal requirements create a presumption that the will is valid. However, a disgruntled beneficiary may still search for a basis to challenge it. Our firm drafts wills meticulously to stand up to court scrutiny. But even a perfectly executed will might not be sufficient to address your estate planning needs. We help our clients understand and avoid any potential pitfalls of will planning.
These minimal requirements create a presumption that the will is valid. However, a disgruntled beneficiary may still search for a basis to challenge it. Our firm drafts wills meticulously to stand up to court scrutiny. But even a perfectly executed will might not be sufficient to address your estate planning needs. We help our clients understand and avoid any potential pitfalls of will planning.
Consequences of Dying Without a Will in New York
When someone dies without a will, intestate, the estate is settled in probate court according to New York’s intestate succession laws. The property flows to the decedent’s close relatives as follows:
Spouse inherits everything.
Spouse inherits the first $50,000 of intestate property and one-half of the balance. Children divide half of the balance equally.
Children divide everything equally.
Parents inherit everything.
Siblings divide everything equally.
It’s important to understand that not all assets are intestate property. Items held jointly, such as real estate or checking accounts, pass to the joint owner without any court action. To understand how succession might operate in your case, it’s important to speak to a family attorney. A seasoned lawyer can explain how estate planning allows you to determine who shares in your legacy.
Contact An Experienced Will Planning Attorney Today
Every person should have an estate plan crafted to their individual needs. At the Cormac McEnery Law Firm, we provide high-quality, highly-personal estate planning services for clients of all ages, with particular care for seniors who may need urgent attention. To schedule a free consultation at one of our convenient offices, call 718-885-1234.