Trusts and Wills
Facilitating your assets exactly the way you intended to
Having both trust and a will is necessary to protect your loved ones in life and death. That is why when you intend to create one, you need to work with experts.
Our lawyers can be the very experts you need. They recognize the importance of these documents. They will make sure to assist you with every step of the way of getting your affairs in order, whether this is creating a will, facilitating your trust, using your powers of attorney, or even just explaining legal issues.
Our experienced lawyers can assist client with estate planining, administering their estate while they are alive, and disbursing their wealth after death. Trusts are a fast expanding area of the law. It can be quite beneficial to employ trusts, wills, and other planning documents. Trusts can assist in making sure that your assets are appropriately held and managed for your family’s future usage. The use of advance directives like powers of attorney and health care proxies is also advantageous.
A trust’s assets may be utilized to cover the expenses of its named beneficiaries’ education or medical care. A trust attorney can add trusts as a clause to your will or create them as a separate legal entity. Occasionally, using trusts to circumvent the probate procedure or to reduce estate and income taxes may be useful. You can get advice from our trust attorneys on what is best to do.
Frequently Asked Questions
What occurs if I pass away without a will?
Those who pass away “intestate”—without a will—are referred described as such. This means that the state in which you were a resident at the time of your death or the state of New York will determine how your assets are allocated. Regarding the disposition of assets upon an intestate death, the State of New York has highly precise laws.
Can my will be changed?
Yes. You can make changes to your will, revoke it, write a codicil, which is an amendment to a will, or completely rewrite it as long as you are still alive and competent.
In my will, can I distribute my property however I see fit?
Yes. You have complete freedom to dispose of your property as you see fit.
Do wills have to be dealt with in court?
Probating a will entails bringing a court proceeding to have a court recognize a will as valid. This is required to complete the individual who wrote the will’s financial affairs. Courts monitor the probate process to ensure that it is fair. Courts also grant the executors of the will authority to transfer the decedent’s real estate and other assets.
What is Probate?
Probate is the process by which a Will is shown to be valid in the Surrogate’s Court in the state of New York. The Surrogate’s Court must decide whether the decedent’s Last Will and Testament should be accepted. During the probate process, it is necessary to acquire jurisdiction over all interested parties, who are then given the opportunity to challenge the Will before it is accepted for probate by the Court. An individual will be named as executor in wills. When a will is probated, the court appoints an executor to carry out the terms of the will.
Can one's will be challenged?
Yes. Wills can be challenged. Wills must be submitted to a court as part of a probate proceeding. Persons with a familial interest are notified of the probate proceeding and have the right to appear in court and contest a will. To successfully challenge a will, you must have specific grounds. Being dissatisfied with the terms of the will is not one of them. To successfully challenge a will, you must demonstrate that the person writing the will lacked testamentary capacity, was subject to fraud, duress, or undue influence, or that the will was not executed in accordance with testamentary formalities.
What happens if a person named as a beneficiary in a will dies before the person who wrote the will?
When a beneficiary dies before the testator (the person who made the will), the devise to that beneficiary is null and void. A beneficiary must outlive the testator in order to inherit. There is, however, an exception to this rule. If the testator’s children or siblings are bequeathed something in a will, and that beneficiary dies before the testator, the descendants of the deceased beneficiary inherit whatever the deceased beneficiary was entitled to inherit under the terms of the will. It can be difficult to determine who inherits and how they inherit. When dealing with these issues, you should always consult with an attorney.
What is estate litigation?
If a person believes there is a problem with the Will or the circumstances surrounding its drafting, he or she may challenge the Will. This is accomplished by appearing in court on the return date of the Will’s probating and informing the court that you intend to challenge the Will. In addition, appropriate legal documents stating your objections to the Will’s probate must be drafted.
What is a kinship hearing?
Individuals who die without a will, have no children, and all of their brothers and sisters have died before them may have nieces and nephews as next of kin. A kinship hearing is required to establish the relationship between the decedent’s nieces and nephews and/or aunts and uncles. Cases of this nature are typically handled by the Office of the Public Administrator in the state of New York. As part of the administration procedure, the Public Administrator’s counsel requests that the Surrogate’s Court determine who the decedent’s rightful heirs are.