It's difficult to consider our own mortality or the potential of becoming debilitated. To make sure that your estate is divided in accordance with your wishes and that those closest to you receive the support and security you have worked so hard to provide them with, making a plan for these scenarios is crucial.
Making a will that clearly spells out how your assets are to be distributed is the only way to ensure that your preferences for your estate are acknowledged and carried out after your passing.
Making a will is a crucial step in estate planning because it guarantees that assets and property are left to the people you want. A will must be properly designed and executed in order to comply with a number of legislative requirements in order for it to be recognized as legal in New York. Executing powers of attorney, which permit another person (an agent) to act on the individual's behalf, is a part of estate preparation that can be assisted by a New York trusts and estates lawyer. Such agreements are enforceable in New York and should be carefully designed and completed with the assistance of a trusts and estates attorney to minimize any potential negative consequences.
What are Wills and What Purpose do they Serve?
A will, also known as a last will and testament, is a legal document that disposes of certain assets owned by a person after that person’s death. The will does not dispose of all assets that a person owns. The will only disposes of assets that are titled in the person’s sole individual name at the time of death. Other assets, such as property owned in joint names with right of survivorship with another person at the time of death, assets with a designated beneficiary (such as life insurance proceeds, retirement plans, pensions, profit sharing plans, 401(k) plans or IRAs) and assets in trusts pass outside of the Will to the person who is the joint owner, designated beneficiary or beneficiary of the trust.
Do I Need a Will?
Many people answer this question with a “no” for reasons they feel (or convince themselves) are valid or because they feel that the preparation of a will can be easily put off until some (usually unspecified) time in the future.
The fact of the matter is that for different reasons almost everyone should have a last will and testament setting forth the person’s current wishes and desires with regard to the disposition of their estate. The will should also appoint a fiduciary to manage and administer the estate as well as a guardian for any minor children. It should be prepared by and executed under the supervision of an experienced attorney because failure to follow statutory requirements can invalidate the will. If you die without a will, your assets will be distributed under the terms of your state’s “intestate succession” laws. That means that your money and property could end up with family members you haven’t spoken to in years.
It is very important to give serious consideration to contacting an experienced attorney to have a will drafted. This attorney can assist you with preparing the will and guiding you in estate planning issues in order to ensure that your assets can be passed on to your loved ones in the most efficient manner and at the lowest cost, including the minimization of estate taxes. Also, an experienced attorney can assist you with updating your will as well to reflect major life events, such as a divorce, the birth of a child, or if you happen to move to another state.
Having a will prepared and/or updated by your attorney is not only the prudent and responsible thing to do, regardless of age or circumstance, but one that will leave you with peace of mind, before you remain at peace forever.
What is a Living Will?
A living will and a last will and testament are two completely different legal documents. A living will is the legal document used by a person to memorialize in writing what medical procedures he or she wants or does not want to have performed in order to extend life in the event that the person is suffering from a medical condition for which there is little or no chance of recovery. It is used as a guide for the person that you name as your health care agent to make health care and medical decisions for you.
Why Choose Tully Rinckey
The best method to create a final will and testament that precisely reflects your intentions for your estate and prevents difficulties in the probate process is to speak with a wills attorney who is familiar with New York's will laws. Tully Rinckey’s will lawyers have the experience required to explain the nuances and complexities of your individual situation and circumstances when it comes to drafting up your will.
Our New York Wills Attorneys are Ready to Assist You Today
The key to successful planning is taking action as soon as possible, while you’re still alert, aware, and healthy. We can help you develop an end-of-life care and estate plan that meets your needs and allows your loved ones to understand your wishes even if it gets to the point when you can no longer communicate with them.
To schedule an initial consultation with a member of our experienced team, contact us 24 hours a day, 7 days a week, at 8885294543 or info@tullylegal.com. You can also book your consultation online via the link below.
You can also use our secure Live Chat feature to connect with us regarding your matter. You will be connected with a member of our client relations team ready to assist you.
Book Your Consultation Now!
Ready to book your consultation? Click here to pay our consultation fee and book your meeting with an attorney today!
When you choose Tully Rinckey PLLC, you aren’t just assigned an attorney. Your legal matter will be cared for by our entire legal team and support staff. With offices throughout the United States, we make sure you receive legal counsel and representation you can trust.
Full Service Legal Firm
Tully Rinckey is a full-service law firm. We handle legal issues relating to appellate law, litigation, bankruptcy, international and U.S.-based business law, family and matrimonial law, military and federal employment law, intellectual property law, and much more. We also offer a variety of services, including estate planning, security clearance representation, and congressional investigations. Regardless of your legal needs, we have the experienced counsel you need.
Our Experience
Our highly knowledgeable law team comes to the table with attorneys who have 20 to 30 years of experience representing hundreds of clients. With hundreds of years of combined experience in appellate, international and U.S. business and corporate commercial law, litigation, criminal law, immigration, bankruptcy, employment law, estate planning, our team has what it takes to ensure your success.
Our Process
Our client-centered process is all about communication. During consultations, we teach clients about legal challenges they face and explain options available from their current position. Our attorneys explain how we resolve legal issues for the best possible outcome. We define what the expectations are, create manageable deadlines, and discover evidence to support claims.
Our Personal Process
Contact us
Contact us to discuss your needs with a client representative and schedule a consultation with an attorney.
PREPARE FOR CONSULTATION
Your time with your attorney is important. Please use this guide to get the most out of your initial consultation.
Meet your attorney
We discuss your specific legal goals and gain important information from you to help us understand your unique situation.
