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The attorneys at Cona Elder Law will listen to your needs and help you craft a Last Will & Testament that protects your wishes. Continue reading to learn more about the Last Will & Testament as well as why it's necessary for you to have one.
The most basic and perhaps the most important instrument in your estate plan, a Last Will & Testament is a legally binding declaration of who will receive your property upon your death. If you died without a Will (intestate), New York State laws determine how and to whom your assets and property are distributed. This may be contrary to your wishes.
A well planned Will ensures your property is distributed according to your wishes and therefore allows you to make gifts to whomever you see fit, whether relatives, friends or a charitable organization.
A Will can also help reduce estate taxes and, most importantly for young families, you can appoint someone as guardian of your minor children. In your Will you may also wish to specify instructions regarding your burial or earmark money to pay for your funeral and burial expenses. This can provide tremendous assistance and comfort to your loved ones during their time of grieving.
Everyone wants to provide the best for their family and loved ones. At the same time, you may want to ensure your legacy is protected and your last wishes are respected — both legally and emotionally. And when you choose to work with an experienced Last Will & Testament attorney at Cona Elder Law, you can rest a little bit easier knowing your affairs are in order.
The most essential person involved with the administration of your estate is the administrator or Executor. This is the individual you place in charge of your estate following your death. The Executor you choose will have the legal responsibility to handle and resolve all financial obligations as well as other responsibilities, which may include:
The Estate Planning attorneys at Cona Elder Law will work with you to help you appoint a primary Executor as well as a successor to ensure your wishes are carried out as you desire. If you fail to have a Last Will & Testament in place, the courts will appoint someone for you, known as an administrator, to handle your estate, and your assets will be divided according to state law (intestacy).
Do you have a young family? Or are you caring for a loved one with special needs or who isn't in a position to make decisions for themselves? In either case, your Last Will and Testament will empower you to decide who takes care of your loved ones in your absence.
Without this critical legal instrument, the courts will be left to decide this issue. However, when you work with the Last Will & Testament attorneys at Cona Elder Law, you will be able to appoint a suitable guardian for your loved ones — ensuring they will be taken care of when you pass.
You've worked hard to build a successful life, and you should have the right to decide how your assets are divided up amongst your family members, friends, or whomever you see fit. Your Last Will & Testament will allow you to retain these rights and give your assets to whomever you decide.
If you do not have a Last Will & Testament, the state of New York will determine how the division of your property will be handled — without knowing anything about you, your interests, or your circumstances. This is known as the Laws of Intestacy.
At Cona Elder Law, we’re proud to have been ranked the #1 Elder Law Firm on Long Island for 8 consecutive years by Long Island Business News. We offer a holistic approach to Elder Law and Estate Planning by focusing on legal matters as well as family dynamics, practical matters, and caregiver issues.
We'll help you plan for the future you envision by creating a comprehensive Last Will & Testament so you can rest a bit easier knowing the future is secure.
Contact Cona Elder Law today for a greater peace of mind.