Wills are a formal means of letting someone make decisions about how his or her estate will be managed and distributed after death, as well as other related wishes that the person may have.
The laws relating to wills require that certain formalities be followed in the drafting and execution of the document. Following the death of the person who executed the will (known as the testator), properly executed wills enter a process called probate administration, where a court and the executor of the will determine the will's validity and distribute the assets of the estate in accordance with the document.
Having a will in place is one of the most important aspects of planning your estate. Wills give you the peace of mind of knowing that your estate will be handled in accordance with your intent after you pass away. In addition to providing instructions about how you want your property, belongings, and other assets distributed after your death, a will can also express your burial or cremation preferences. Wills can provide stability and certainty to your family at a time when they need it the most.
Wills must follow certain strict formalities, and deviation from these formalities can cause unnecessary delay and expense, or even cause your expressed wishes to be ignored outright. We can ensure that your will accurately reflects your intent when it comes to your estate, and that it’s constructed properly so as to ensure that it is timely executed without any problems.
The key reasons why wills are better than dying intestate
If you write a will it clearly establishes who you want to receive your assets and who you want to deal with the administration of your estate. The person who administrates your estate will be in charge of handling your funeral arrangements and controlling your assets until they are distributed. This is an important function that should be dealt with by you before you die!
If you die without a will, your family may be subject to delays, additional costs and expenses in the intestacy proceeding. In intestacy, the State of New York determines who your beneficiaries are, not you and who will become your administrator and will control your assets is up for grabs. The State of New York does not know what your real intentions were concerning your Estate and who you wanted to Administrate it. So therefore, it is highly recommended you write a will before you die!