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.

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.