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Wills and Probate

Why You Should Have a Will

  • By creating a Will, you can maintain control over how your assets will be distributed upon your death.
  • Should you not execute a will, you will have no say in the eventual disposition of your assets. In fact your assets may be paid to the state if none of your heirs are found.
  • Without a will your assets will pass according to New York State intestacy laws.
  • Intestacy laws generally require that upon your death your assets will pass to your closest living relatives in equal shares according to their degree of kinship.

Benefits of Having a Will

  • A will allows you to control how your assets are distributed upon your death.
  • A will permits the testator (the person creating the will) to select the fiduciaries - executors, trustees, guardians of any minor children upon the death of a surviving parent.
  • If the testator wishes to make a special provision for a beneficiary who is disabled or under the age of majority, a trust can be created within the will.
  • Wills allow for tax planning for married couples, resulting in significant tax savings.
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