New York Estate Planning Lawyer 

Everyone’s needs are different. That means a lawyer needs to be a good listener—to understand what a client has and what they want. Our New York estate planning attorney is just that kind of listener. We work hard to create wills and trusts truly reflective of your interests and wishes for your legacy. We’re proud of the reputation we’ve earned among our clients and want to help you next. 

Why You Should Have a Will

While it’s not strictly necessary to have a will, it’s strongly recommended that people have one in place. Having a will allows people to retain control over who receives their assets after their passing. Without a will, one's estate will be distributed according to the intestacy laws of New York. This process may not align with the individual's wishes, and assets may end up in the hands of unintended beneficiaries. 

By having a will, people can specify exactly how they want their assets to be distributed, ensuring that their loved ones and chosen beneficiaries are taken care of. This can give the grantor (the person bequeathing the inheritance) peace of mind, knowing that their hard-earned assets will be passed on to those they intended.

 A will can also help the grantor’s loved ones avoid stress after death. The passing of a loved one is already a difficult time, and without a will, it can become even more complicated and emotionally draining. The probate process may become contentious in the absence of any clarity regarding the deceased’s wishes. 

For parents of minor children, the establishment of a will is a good opportunity to appoint guardians in the event of death. In the absence of parental wishes being formally expressed, courts may award the guardianship of children to someone the parents would not prefer. 

The Benefits of a Trust

There are several advantages to having a trust, and a variety of ways they can be structured. Some of the most prominent benefits of a trust are these: 

• Financial Protection: Assets placed into a trust can be shielded from potential creditors or legal claims. This is particularly beneficial for people with significant wealth or those who engage in high-risk professions. Assets held within a trust can be protected from lawsuits, business debts, and other financial liabilities. 
• Avoid Probate: While having a will can make probate go a little more smoothly, only a trust can eliminate the need for probate altogether. Avoiding probate means that beneficiaries can receive their inheritance more quickly and without the hassle of legal proceedings.
• More Control: With a trust, the grantor can dictate specific conditions or restrictions on how the assets are distributed to their beneficiaries. For example, parents may want to ensure that their children receive their inheritance gradually over time, rather than in one lump sum. The founder of a trust can specify how the funds should be used, such as for education, healthcare, or starting a business. 

Call our office today at  (585) 584-6093 to set up an initial case evaluation.