NY Estate Laws And Your Assets

Lawyer for Protecting Your Assets Under New York Estate Laws

Many different kinds of cases and situations are covered by New York estate laws. These laws deal with such situations as probate of Wills, administration proceedings where someone dies without a Will, and litigation of disputes related to wills, trusts, and guardianships. If you wish to protect your assets under estate laws, you should consult seasoned New York estate lawyer Jules Haas about your situation. He has more than 40 years of experience that he can bring to bear in analyzing your case and determining the best course of action.

Estate Laws in New York

When someone dies without a will (or if their will was not created with the appropriate formalities), intestacy statutes will determine who inherits the person’s estate. The proceedings may be made more complex by the kinship issues that can arise. Once they learn more about intestacy and inheritance, many people find that the rules do not reflect their wishes about what will happen to their property. For that reason, it’s important to create a valid will or revocable living trust that specifies what should happen to property upon your death.

Generally, it’s wise to conduct estate planning under the guidance of a seasoned attorney who understands how best to protect your assets and ensure your wishes are carried out. Mistakes can be costly or result in a will that says something different than what you intended.

Protecting Your Assets in New York

A knowledgeable New York attorney’s representation can make it less likely that your heirs will bring a will contest in the course of probate, following your death. Will contests can be brought based on many different grounds including lack of mental capacity, lack of validity, undue influence, duress, and fraud. Lack of capacity is when an interested party claims you weren’t of sound mind when you made the will. Lack of validity is when somebody claims you didn’t follow the appropriate steps in making the will, like have it witnessed and signed. Undue influence arises if an interested party alleges you made the will because you had a vulnerable mental state and somebody else influenced you to distribute your property in a manner that cuts against your wishes. Duress occurs if you were under extreme pressure by someone to distribute your property in a way that goes against what you want. Fraud occurs when somebody lies to you and that lie influences how you distribute your property that goes against what you want.

Sometimes there is animosity within a family even before questions of inheritance come up. If you expect a will contest, you may want to use a revocable trust. Revocable trusts are also called living trusts, and you can alter or modify them during your lifetime. Typically, you can keep control over trust assets and add, remove or change the identified beneficiaries when you wish to. You can act as the trustee of the revocable trust. Using a revocable trust allows assets to be distributed to beneficiaries without moving through probate court, which can be slow and expensive. While probate is a matter of public record, trusts are private and can help keep assets intact.

Consult a Seasoned Estate Planning Lawyer

Mr. Haas has many years of experience working with and advising clients concerning decedents’ estates and the creation and implementation of plans that effectively express the clients’ personal desires regarding the disposition and protection of assets. Regardless of the size of an estate, most adults—young and old—and their families benefit greatly from having a well-prepared estate plan consisting of documents such as a: Last Will, Health Care Proxy, Power of Attorney and Living Will.

Dedicated to providing clients with personal and attentive service, Mr. Haas handles estate planning, along with all probate, estate administration, Surrogate’s court, and guardianship cases throughout New York and surrounding communities. Contact Mr. Haas now to discuss your matter via our online form or at (212) 355-2575 for a free consultation.