When you live in NYC, and if you die without leaving a will, things can actually get complicated for your family members. Before you die it’s imperative that you get a will ready for your family and loved ones. A will is a set of instructions which stipulates who gets what and who will manage the property immediately after your death. On an average it is estimated that almost 50% of Americans die without a will, which is hard to understand. Some people might think that they don’t have enough property to make a will. But what we might call is a complete negligence. An interesting superstition some of the people associated with will is that it accelerates death time. Whatever your reason is, you need to understand that will is important. A probate lawyer in NYC can help.
How Your Asset Is Distributed By A Probate Lawyer in NYC When You Don’t Leave A Will Behind?
A will ensures that your estate goes to your family and your loved ones. It also ensures that an executor whom you have chosen distributes your assets to the right people in the right manner. In the absence of a will your assets will directly pass to your family members in accordance with state intestacy laws.
In case of no will, your spouse inherits all the assets if you don’t have any children or descendants. If you have descendants your spouse will get the first $50000 and the remaining shall be divided 50-50 to your spouse and descendants. Also, if your spouse is dead then your entire estate will pass on to the deceased descendants legally.
When There Is No Surviving Spouse
If you have no surviving spouse and no descendants then your estate will pass on to your parents equally, or all the estate will go to the surviving parent. If you don’t have any surviving parents then your assets will pass on to your siblings. Note that half sibling also counts as the whole sibling.
If none of the above relatives is on earth any more than half of the property will pass to your mother’s relatives and half to your father’s relatives. If your closest surviving relative is your second cousin or a more remote relative then the entire estate shall pass on to the State of New York.
Why Risk It?
If we summarize everything we can come to a common conclusion that if you don’t hire a probate lawyer in NYC and die without a will, you will lose all say over what happens to your property. Some people who mean nothing to you, or whom you disliked completely might gain from your assets. On the other hand people you loved you always wanted in your life and who were always there for you might receive nothing from you as a parting gift. And the worst-case scenario might be everything passing to state.
It might be a little overwhelming for you to get a will ready but if you hire a probate lawyer in NYC everything will be a cakewalk for you. Having a will safeguards your wishes and desires and it will be a special gift by you to your loved ones. Remember that most of the wills can be created quickly with less or no hassles and at a very reasonable rate. Hence hire a probate lawyer today and get your will ready.
How To Hire A Probate Lawyer in NYC?
You can talk to your friends or family members for the reference or you can search online for a probate lawyer. Most of the lawyers carry a checklist to help you to identify your assets, insurance (if any), retirement accounts, family members, and others to provide you with quick solutions.
No one would like to be in a situation where their assets will not go to the right person after them. Thus, it is advisable for people to form a will. However, if there is no will, what will you do? What happens when there is no will left by the deceased? Well, consult a Probate Lawyer in NYC who will assist you in knowing the pros and cons of forming a proper will. Moreover, you will get to know the benefits of forming the will while you are still alive.