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Beneficiary of Will

Considerations When Naming the Beneficiary of Will

It is important to select and name the beneficiary of a Will with care. The beneficiaries will receive the assets or benefits that have been designated in the document. There may be a single beneficiary or even multiple beneficiaries. A New York City beneficiary lawyer can advise you on how to select them.

You need to be careful about how you name a beneficiary of a Will. While identifying beneficiaries by name and relationship is what you want to do, problems can still arise. For example, suppose you name your children as beneficiaries. Should one of your children predecease you, you will need to specify what happens to that person's share to avoid confusion. If you want that child's share to go to his or her heirs, then you must make that intent clear in your beneficiary designation. This can be accomplished by clearly setting forth an alternate beneficiary designation or by including a per stirpes clause.

Another consideration when naming a Will beneficiary is the status of the person you want to benefit.  For instance, if your child is not over the age of 18, the child does not have the legal capacity to receive a bequest in his or her own right.  In these situations, a testator should consider having a child's share placed into a trust the terms of which are set out in the Will.  This type of trust is a testamentary trust.  In a typical situation the Trust provisions may provide that the property is given to a named trustee to hold in trust for the child until the child reaches say age 21 at which time the child receives one-half of the fund.  The trust can then provide that the balance of the trust is to be paid to child when he reaches age 24.  Also, the trustee can be given broad powers to distribute the trust principal and income to the children throughout the term of the trust.

Beneficiary lawyers in New York City commonly assist their clients in creating appropriate beneficiary clauses in Wills and providing for special situations such as the needs and protection of minor children.  I have worked with many clients to prepare Wills and other documents that reflect their desires regarding the distribution of assets to their interested beneficiaries.

Also, you should periodically review your Will and make sure that the beneficiary choices still reflect your desires. You should make certain that beneficiaries have not died or become too ill or incapacitated to enjoy the benefits of the funds or assets you plan to give them. A beneficiary attorney in New York City can make sure that the documents are in order.

I was admitted to the New York State Bar in 1979 and admitted to the Supreme Court of the United States in 1982 after graduating in the top 10% of my class at The New England School of Law in Boston. I was admitted to the United States Court of Appeals, Second Circuit and the United States District Court for the Southern and Eastern Districts of New York. I started my own law practice in New York City in 1985. I have many years of experience successfully working with and advising clients in creating and executing plans that effectively express their personal desires regarding the disposition and protection of assets. I do this while providing potential tax advantages and security for family and beneficiaries.

You can contact me by phone at (212) 355-2575 or fill out my contact form for a free appointment with a New York City beneficiary attorney. I look forward to talking with you.

Client Reviews
I am very grateful to Mr. Jules Martin Haas attorney of law in New York. I am from Buenos Aires Argentina. He managed with expertise a very difficult situation. of a complicate heritage from my aunt Anna Grodzka that lived and died a very long time ago in New York. I recommend him not only for his extraordinary knowledge but also for his kindness. Irma CW Peusner
I found Mr. Haas after being misguided by a former attorney. Mr. Jules Haas took our case which involved an estate/trust dispute. What initially seemed like an impossible and overwhelming legal fight was now in the hands of someone who had the integrity and legal expertise to win our case. Mr Haas' attention to detail and his expert knowledge base, skillfully and successfully guided us through an intricate legal process. I am very thankful and grateful to Mr. Jules Haas for representing our interest and ultimately winning. Bringing about a peace of mind we needed. Thank You Devida Nedd
I was in need of a guardianship attorney and I hired the services of Jules M. Haas' Law firm. The service of counselor Haas and his staff, was very profesional and the case was handled in a timely matter. I would strongly recommend his services Angel Guevara
I strongly recommend Jules Haas. I have worked with him for two years and he has provided so much support and followed through with everything he promised he would do. His support staff is just as helpful! We had an interesting case and he helped to solve each part of it legally and was very thorough. Thank you for everything you have done to finalize our families estate Robyn Stafford
Jules Haas helped me with managing the process in probate court for my father's estate through to its completion upon the sale of my father's house. He was knowledgeable, efficient, and effective in submitting documentation to the probate court, explaining procedures to me, and advising me as to the progress of my case. His support staff was also very helpful. He made what for me created so much anxiety into something manageable where I could see progress every step of the way. His fees were very reasonable. I am super grateful to him for all the help he has provided and strongly recommend his services. Diana Janer
I just completed an estate transaction where Jules Haas represented my client in an estate and he did a great job! He was very quick at responding to all matters throughout the sale process, he was detailed, he was knowledgeable and he was a pleasure to work with. I just recommended him to some new clients who are going through an estate matter and will continue to recommend him. Rodolfo Lucchese