One of the most critical components of estate planning is the drafting of the will. A will is a written document that stipulates how an individual’s property should be dispersed after death.
Legally binding, a will can be an important source of direction for family members after a person dies. Understanding the intentions of the deceased helps prevent miscommunication among loved ones and keeps legal costs to a minimum. Fiore Law Firm, P.C. provides competent, compassionate legal services, including wills, trusts, and the protection of client’s assets, no matter what the size of the estate.
A will becomes effective at death, but it is not considered valid until it goes through probate. When writing your will, you are permitted to appoint a person to administer/probate your estate. If a person dies without a will, there are specific rules regarding the passing of property. Based on these rules, your property may be distributed to individuals that you did not want to leave property to.
Can you do it yourself?
You could, but because drafting a will is complex, and New York laws change over time, it is advisable to use the services of an experienced New York estate planning attorney like Fiore Law Firm, P.C. to be certain that your Will is effective.
The cost for drawing up a will depends on how much time it takes to fully examine and take into consideration all aspects of the client’s particular situation. Fiore Law Firm, P.C. always provides complimentary consultations and estimates for wills.
Whether you are in the initial stages of planning your estate, need assistance revising an existing plan, or have questions about other planning matters, we encourage you to contact us for a consultation.
It is never too early to begin estate planning. Your first step is to take stock of all your assets. These include your investments, retirement accounts, insurance policies, real estate, business interests, and valuable items (in financial or emotional terms), such as jewelry, cars, and coin or baseball card collections, for example.
Next, decide what you want to achieve with those assets and to whom you want to inherit them. This is also the time to think about the people you would trust to handle your business affairs and medical care in the event that you become incapacitated.
Once you have some answers to these questions, you are ready to seek our advice and to help you create an estate plan that is specifically designed to meet your unique needs and goals.