The Benefits of Creating a Will in New York

As a New York resident creating a will can be one of the most important decisions of your life. 

But first, how can you make a will?

When you create a will you must be in good health and recognize what you are doing. It can be edited as well but an experienced estate attorney can help to advise you on the details.

A legal will can only be made by someone who is at least 18 years old. If you are married or in a domestic partnership, your spouse or domestic partner must sign it. If you are not married, in a domestic partnership, or the father of the child being named as a beneficiary you need to have someone 18 years old who is willing to sign as a witness.

Benefits:

  1. The main benefit of creating a will is that it gives individuals the ability to leave property and possessions to the people of their choice. An individual who dies without a will is considered to have died intestate. An intestate estate can be a nightmare for family members to deal with because of the lengthy court process that is involved in these cases. Before a will is accepted it must go through the process called probate, to authenticate it and ensure it is valid according to the law.
  2. You can also name a legal guardian for your children in your will. This can help to spare your children from being separated from each other if their legal guardian predeceases them. If you have a spouse or immediate family you cannot always assume that they will automatically gain guardianship of your minor children. Many complications can arise if there are divorces, step parents, or other active adults in the children life
  3. Preventing unnecessary estate taxes. An estate tax is a tax in New York that requires your estate to pay a certain percentage of what you leave behind when you die. Not only can it be a lot of money but it can cause the probate process to go longer to ensure all taxes and debts are paid, but having a will can simplify this process.
  4. Preventing your estate from being contested can also be avoided with a will. Imagine if there was no will left behind, how will your loved ones determine who handles which aspect of your estate. Even aside from inheritance, there are many matters like closing down bank accounts, receiving unpaid bills, and all of these responsibilities can be assigned in a will.

 


To get help with creating a will, living trust, power or attorney or anything else contact:

Law Offices Of Roman Aminov 147-17 Union Tpke, Queens, NY 11367 (347) 766-2685 https://www.aminovlaw.com/queens-ny-estate-lawyer

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