Not many people in New York want to sit around discussing their own mortality. However, it’s simply a fact of life that death is inevitable. Most people want to help prepare their loved ones for the possibility that they themselves will one day be gone from their lives. One way to do so is to execute wills and other estate planning documents.
Regardless of whether you are a person of substantial wealth or meager means, you have a right to protect your assets and designate a particular person to settle your estate as well as those who will receive your inheritance. The process is highly customizable and can be drafted to suit your personal needs and goals. In recent years, there have been many stories about celebrities who have died without first signing wills, which led to various family members and close acquaintances fighting over their estates.
If you die without a will in place, your estate becomes intestate, which means a probate court will determine how and to whom your assets will be distributed, according to the laws of New York. If you feel strongly about naming a particular person as a beneficiary, the time to speak up is while you’re very much alive and of sound mind. An experienced estate planning attorney can explain the process of executing wills, as well as other viable options, such as power of attorney or health care directives.
Coughlin & Gerhart, LLP has successfully assisted many New York clients with their estate plans. If you have questions or concerns regarding wills, or are facing current problems in connection with an existing document, we are fully prepared to help you resolve your issue expeditiously and carefully. Creating a solid estate plan is one way to show your family you have their current and future best interests at heart.