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November 2015 Archives

Estate planning for married couples

Many married couples in New York assume that they do not need to write a will. Couples believe that when one spouse dies, everything will simply be passed to the surviving spouse. While this is in some cases true, these matters can be much more complicated when a couple has children. To ensure that there are no disputes between family members, it is always important for people to state their intentions clearly in a will.

How to choose an executor

One task that is often underestimated or ignored during the preparation of a will is the task of selecting an executor. A New York testator may believe that the person that has been chosen is qualified for the role, but that is not always the case. In some cases, the executor of a will is not even told ahead of time that he or she has been chosen to do so.

Estate matters for those who have never married

A New York resident who has a spouse and children might pay close attention to estate matters, especially in case of major changes to their financial or family situation. However, those who have never married may not worry as much about estate planning due to the fact that there aren't dependents. The reality is that anyone who has assets should think about creating an estate plan to ensure that their wishes are documented legally. Failing to do so could result in the court system having to follow the state laws of intestacy while absorbing some of those assets to cover its costs.