Make Sure Your Assets Are Distributed As You Want

Did you know that your heirs may not be your loved ones, and your loved ones may not be your heirs? If you die without a will or estate plan (intestate) in New York. then the state, rather than you, decides who inherits. You may have assumptions about how your assets will be distributed — but those assumptions may be incorrect. 

In the simplest terms, in New York State if a person dies intestate, his/her property is distributed according to the law which says:

* If the person has a spouse:  the spouse inherits everything.
* If the person has children, but no spouse:  the children inherit everything.
* If the person has a spouse and children: the spouse inherits the first $50,000 plus half of the balance. The children inherit everything else.
* If the person has parents but no spouse or children: the parents inherit everything.
* If the person has siblings but no spouse, children or parents: the siblings inherit everything.

We spend lifetimes accumulating  nest eggs. If you want to be sure you have left your estate to someone or something important to you — whether that is a child, step-child, friend, or charity — you would be wise to create your own estate plan rather than letting New York State decide who gets what.

We can help with this! We are experts in estate planning, from simple wills to complex trusts. Please call or e-mail for a consultation.

The information provided herein does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available here are for general informational purposes only.