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Manhattan Wills Lawyers Helping New Yorkers Write Their Final Chapter
Preparing for the future by writing a will is an essential yet emotionally charged task. The process forces us to confront our mortality and consider the inevitable reality of death. It’s natural for this to evoke a mix of emotions, such as fear, sadness, and anxiety. However, it’s important to remember that creating a will is ultimately an act of love and responsibility. By outlining our wishes and providing for our loved ones, we can find solace in knowing that we’ve taken steps to minimize future burdens. Taking the time to craft a will not only offers peace of mind but also serves as a valuable opportunity for reflection on our lives and the legacy we wish to leave behind. Writing a will is one of the most important decisions an individual can make in life, and this is why it is crucial to work with experienced Manhattan wills attorneys who understand the complexities of estate planning. Our experienced attorneys are ready to help with estate litigation, coming up with an estate plan, assigning a legal guardian if necessary, distributing an inheritance between family members, and more.
The attorneys at Law Offices of Vlad Portnoy P.C. have extensive experience helping clients write wills that meet their needs and provide peace of mind for themselves and their loved ones. Our team of attorneys provides personalized guidance to ensure the wishes expressed in the will are legally binding, valid, and enforceable under New York State law. In addition to wills, we offer our clients assistance in establishing trusts, guardianships, healthcare proxies, powers of attorney, estate tax planning, charitable giving plans, asset protection strategies, and other legal documents related to estate planning.
At Law Offices of Vlad Portnoy P.C., we understand how difficult making end-of-life decisions can be. That’s why our compassionate team works with each client to ensure their questions are answered in an understanding manner while providing experienced legal advice about protecting their interests and those of their loved ones through wills and other documents. We are committed to providing New Yorkers with quality legal representation when it comes time to write their final chapter. Contact us today at 516-518-8586 to schedule your initial consultation.
What is a Will?
A will is a legal document that outlines a person’s wishes for the distribution of their property and possessions after their death. This includes personal items, financial assets, and any real or intellectual property owned by the decedent. The document also names an executor responsible for carrying out the terms of the will.
When creating a will, it’s important to make sure all wishes are clearly laid out with sufficient detail and precision to avoid misinterpretation or disputes. Wills should be regularly updated as family and economic situations change over time. It’s also important to consider state laws as they will affect which provisions in a will are binding.
Our attorneys have experience in helping individuals create wills that accurately reflect their wishes while adhering to applicable laws. We can help clients choose an executor, determine how assets should be distributed, designate guardianship for minor children, and plan for tax implications. In addition to creating wills, our attorneys can help with probate proceedings and provide advice on other estate planning documents and techniques.
What are Different Types of Wills?
Depending on the type of will you choose, you can also appoint guardians for minor children and/or name an executor or personal representative to manage your estate.
The most common type of will is a Last Will and Testament, which is used to state how the testator (the person making the will) wants their property to be distributed upon their death. This document must meet state requirements in order for it to be legally binding. Other types of wills may include living wills, pour-over wills, family wills, codicils, holographic wills, and testamentary trusts.
Living Will
A Living Will is used to outline a person’s wishes regarding health care decisions in the event they become incapacitated and unable to make such decisions themselves. It includes instructions for what kind of medical treatments and interventions should be performed under specific circumstances.
Pour-over Will
Pour-over Wills are usually created alongside an existing trust agreement or testamentary trust in order to “pour over” any remaining assets at the time of death into that trust so they can be equally divided between beneficiaries according to its terms.
Family Will
A Family Will is another special form of will designed specifically for families who wish to leave all or part of their estate in equal shares among multiple family members with different ages or financial dependents.
Codicils
Codicils are amendments created after a will has already been drafted in order to update it with new information or changes that have occurred since its initial drafting.
Holographic Will
Holographic Wills are handwritten wills that do not require witnesses but must still meet state requirements in order for them to be enforceable upon death.
Testamentary Trust
Testamentary Trusts are trusts created under a Last Will and Testament, which require a separate document from the main will itself specifying how trustees should manage the trust and how beneficiaries should benefit from it after death has passed.
Choosing the right type of will can be a complicated decision, but having our law firm there to help you decide, is crucial. We can answer any questions you may have, as well as write up all of the necessary legal documents.
What If I Don’t Have a Will When I Die?
When someone dies without a will, their estate is subject to the laws of the state they resided in – in this case, New York. This is known as intestacy, and it means the state’s laws determine how their assets are divided, who inherits them, and who is responsible for administering the estate.
Without a will, the decedent’s assets will be distributed according to that state’s law of intestate succession. Generally speaking, this means that all or most of the decedent’s property passes to his/her closest living relatives, usually spouses or children. If there’s no surviving spouse or children, then it would go to parents, siblings, grandparents, cousins, or more distant relations.
Having a valid will ensures that your wishes are carried out after death. A will can specify how family members should be treated differently based on individual circumstances and needs rather than leaving it up to a court ruling. It can also expedite the probate process by eliminating disputes about what your beneficiaries believe you would have done if you had the power to choose.
Can I Modify an Existing Will?
Yes, you can modify an existing will in most cases. Wills can be updated or changed according to your needs and circumstances as long as you possess the necessary mental capacity to understand the implications of your decisions. Life events, such as marriage, divorce, having children, moving to a different state, or experiencing a change in assets, often necessitate updating your will to ensure it continues to reflect your wishes accurately.
To modify an existing will, there are generally two methods: creating a codicil or drafting a new will altogether. A codicil is a legal document that amends the original will, specifying the changes you want to make. It must be signed and witnessed in the same way as the original will. However, if the changes you wish to make are substantial or complex, it might be more appropriate to create a new will instead. In this case, the new will should include a clause that revokes all previous wills and codicils.
It is crucial to consult with an experienced estate planning attorney when making changes to your will. They can guide you through the process, ensuring that your modifications adhere to the legal requirements of your jurisdiction and that your intentions are clear. Additionally, they can help you avoid potential pitfalls, such as accidentally invalidating your entire will due to improper modifications.
Regularly reviewing and updating your will is an essential part of responsible estate planning. It ensures that your assets are distributed according to your wishes and that your beneficiaries are taken care of in the best possible way. Remember that changes in tax laws and personal circumstances can impact the effectiveness of your will, so it’s a good idea to review it periodically and make any necessary adjustments. With careful planning and the assistance of a knowledgeable attorney, you can have peace of mind knowing that your will remains an accurate reflection of your desires and intentions.
What are the Benefits of Hiring a Wills Attorney?
Having an attorney experienced in wills can help protect against potential legal issues or disputes that may arise after you pass away. We are knowledgeable about the laws and regulations in New York and how they apply to your particular situation. This ensures that any provisions in the will are valid and protect against any challenges or misunderstandings that may occur later.
We can also provide invaluable advice in cases where the original will has been misplaced or destroyed or if it has become unclear what were the testator’s wishes at the time of death. In this situation, we can work with state courts and probate offices to determine if there is a way to reconstruct or interpret what was originally intended.
Hiring the Law Offices of Vlad Portnoy P.C. ensures that all of these complex issues are handled correctly so that there won’t be any misunderstanding about what should happen with your estate after you pass away. With our combined experience on hand throughout the entire process, you can rest easy knowing that everything is being done in accordance with your wishes. Contact us today to schedule your consultation at 516-518-8586.
