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NYC Will and Estate Lawyers

When you have to deal with Will or Estate matters, you may find several complex issues that arise, which is why it is helpful to have help from a legal professional with Will and Estate expertise. A skilled Will and Estate attorney can help you develop a personal estate plan or help you prepare an estate plan for another individual.
What is a Will and Trust?
A Will and Trust is a critical part of a Will and Estate Plan because it protects your property and assets. A Will is a legal document that allows you to state where your assets will go in the event of your death. A Will can also state who will receive guardianship of your children after you pass away. There are many individuals who feel a Will will automatically prevent their estates from going through Probate, but this is not true.
All estates, even when Wills are included, will go through Probate. A Probate Court will issue an executor to oversee your estate after your death. An executor is responsible for the following:
Ensuring any outstanding bills of the deceased are paid in full;
Gather all assets;
Prepare an inventory of assets;
Pay any remaining taxes on the estate;
Distribute the estate to the listed heirs of the estate.
What Happens if You Die Without a Will?
In the event you pass away without a Will or the court finds a document (deemed to be a Will) invalid, an administrator will be appointed through the court to deal with the estate. The role of an administrator is similar to the role of an executor. However, the administrator doesn’t have a Will to use as a guide, so he or she will distribute the estate in accordance to a state law called Intestate Succession. It is important to note that an administrator is required to distribute an estate pursuant to Intestate Succession regardless of if the results were not the implied intentions of the deceased. For this reason, it is imperative to attain the services of a skilled Will and Estate lawyer to guarantee each legal detail is properly taken care of to protect your estate and inheritors.
Aside from a Will, you should also have other legal documents in place to protect all aspects of your estate after you pass away. For example, a Living Trust transfers all of your assets into one Trust. A Trust will prevent your estate from going through Probate, and you have the ability to name yourself as the trustee while you are living. After you pass away, a successor trustee will be in control of the Trust. The successor trustee is responsible for distributing the estate directly to all inheritors. In addition, there are many different variations of Trusts that are designed to serve different needs.
Estate law is a broad range of legal factors, which if not handled properly, can cause many problems such as disputes among family members over distribution of an estate. Other examples may include a Will Contest, which is when an individual contests the authenticity of a Will, and an Estate Litigation can occur when an administrator handles affairs in a negligent manner. Moreover, there are many more areas of estate law that make it a complex field. If you seek legal help from an experienced and skilled Will and Estate attorney, you increase the chances that your estate and assets will go to all of your intended beneficiaries after you pass away.
If you need help with estate planning, contact Raiser & Kenniff PC today. We have handled a wide range of estate cases, and our knowledgeable attorneys are legal professionals who are dedicated to helping you achieve results.