New York Will Lawyer
If you are involved with a Will & Estate issue, you have probably discovered how legally complex these matters can be. Whether you are working on your own estate plan, or are dealing with the estate of a loved one, it is recommended that you contact a New York Will Lawyer to assist you with the process.
Two of the primary documents used in the Estate Planning process are the Will and Trust. A will is a legal instrument that allows the testator to specify exactly what will be done with his/her assets when they pass away. It can also specify things like who they would like to serve as the guardian of their child, for instance. People are often under the impression that having a will in place means that their estate will not go through Probate. Whether you have a will or not, the estate will go through the court supervised Probate process when you pass away. This process is handled by the Probate court, where the will (if there is one) is verified, and the assets of the estate are inventoried. The court will issue letters testamentary and appoint an executor, who will be responsible for paying the estate’s bills and taxes and distributing assets to the heirs.
If there is no will in place when someone passes away, or it is found that the will is invalid for any reason, the court will issue letters of administration and appoint an estate administrator. Because there is no will to guide the distribution of assets, they are distributed pursuant to Intestate Succession. This process may be drastically different from what the decedent would have wanted. It is important to be sure that you contact a New York Will & Estate Lawyer for all of your estate planning concerns, so that your estate is handled in the manner which you intend.
A will is only one piece of what should be a comprehensive estate plan. Depending on your own unique situation, other Estate Planning documents may be needed as well. One way that an estate can avoid lengthy and expensive Probate as discussed above, is to have a Living Trust. With a Trust, your assets are transferred into the Trust during your lifetime. Because you can name yourself as the trustee, you will continue to have control over the assets while you are living. A successor trustee that have named in your Trust will assume the responsibility of handling your Trust after you pass away. After you die, your assets will be directly distributed to your beneficiaries, without having to go through Probate. This saves money, time and headaches for your beneficiaries. If you are considering a Trust, be sure to consult with a New York Estate Lawyer to learn about the many different kinds of trusts that can be used depending on your needs.
Will & Estate law can include a wide array of legal matters other than wills and trusts. During the Probate process a Will Contest could arise, or there could be an action regarding Fraudulent Transfers. Perhaps an Estate Litigation matter arises, where an administrator or executor is charged with a negligent act with regard to their duties. Will & Estate matters can be very complex, and it is important to consult with a New York Will & Estate Lawyer for assistance. Stephen Bilkis & Associates, PLLC have many years of combined experience in all aspects of Will & Estate law and can guide you through the process. When you contact us, we will also provide you with a free consultation. We have offices Manhattan Brooklyn Bronx Queens Staten Island to Long Island in both Nassau County and Suffolk County and Westchester County. Call us today to schedule your free appointment at 1.800.NY.NY.LAW.