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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 a range of 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, Mr. McEnery listens intently and drafts a will to implement your intentions.
Requirements for a Valid Will in New York
To execute a valid will in New York, it must be:
Oral wills are not valid. 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.
A disinterested person must witness the signing and sign the document after the testator. Courts have ruled that to qualify as a witness, the disinterested party 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, 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 an attorney. A knowledgeable lawyer can explain how estate planning allows you to determine who shares in your legacy.
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 an attorney. A knowledgeable 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 legal 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.
Why Choose Cormac McEnery Law for Will Preparation?
At Cormac McEnery Law, we prioritize clear, compassionate, and thorough service to help you protect your legacy. Writing a will is not just a legal task; it’s a personal commitment to your loved ones. With decades of experience, our team is dedicated to making the process as straightforward and comfortable as possible. We provide the guidance you need to make informed decisions and feel confident that your wishes will be honored.
Related FAQs
1. What happens if I don’t have a will?
If you pass away without a will, state laws will determine how your assets are divided. This process, known as intestate succession, often doesn’t align with personal wishes and can lead to lengthy probate and potential family disputes.
2. Can I write my own will?
While you can write your own will, having an attorney ensures it’s legally binding, meets state requirements, and accurately reflects your intentions. A professionally drafted will can help prevent mistakes and minimize the risk of challenges in court.
3. How often should I update my will?
It’s advisable to review your will every few years or after major life events, like marriage, divorce, the birth of a child, or significant changes in finances. We can help you update your will to reflect any changes in your life or family situation.
4. Who should I choose as the executor of my will?
An executor should be someone responsible, trustworthy, and capable of handling financial and legal matters. It can be a family member, friend, or even a professional fiduciary. We can help you select the best person for this role.
5. Can I make specific gifts to friends or charities in my will?
Yes, you can specify gifts or donations to individuals or organizations in your will. We’ll help ensure your wishes are clearly documented so these gifts are honored.
6. What’s the difference between a will and a trust?
A will directs the distribution of assets after your death, while a trust can manage assets during your lifetime and after. Trusts can offer more privacy and avoid probate, but a will is still essential for certain designations, such as guardianship of minors.
7. How can I ensure my will is legally binding?
A will must be written, signed, and witnessed according to state laws to be legally binding. Our attorneys ensure that your will meets all legal requirements and stands up to any challenges.
8. What is a living will, and do I need one?
A living will is a document that specifies your wishes for medical care if you become incapacitated. It’s different from a standard will, which deals with asset distribution. We can help you prepare a living will alongside your estate plan to cover all your bases.