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Wills

Do I Need a Will if I Have a Trust?

Quite often, estate clients are interested in the creation of a trust, whether revocable or irrevocable, with varied purposes in mind. A trust is what is known as a testamentary substitute, meaning that assets that are titled in the name of a trust will pass outside the purview of a Last Will and Testament. This Read on…

What is an in terrorem clause (disinheritance) in a last will and testament?

It is not uncommon for a family member to disinherit another in their Last Will and Testament for fears that the person may be a spendthrift or squander monies that the person signing the Will (Testator) worked their whole lifetime to amass. Another method of disinheritance occurs when a Testator seeks to disinherit a family Read on…

What To Do If You Are Written Out Of Your Spouse’s Will?

If you are a surviving spouse, New York State law protects your spousal inheritance rights. As a surviving spouse, you are entitled to at least an “elective share” of the assets. You are entitled to receive one-third of the estate or the greater of $50,000, including properties. Of great importance is that property subject to Read on…

Are lawyers optional when drafting a will?

There are a variety of pitfalls one can encounter if there will is not drafted properly, or if certain “formalities’ are not followed pursuant to the New York Estate Powers and Trusts Law (EPTL) that can make the will vulnerable to a contest by an interested party to the probate proceeding. A skilled estate attorney Read on…

Why Everyone Needs To Have A Will In New York And Beyond

It is a very common question that arises. And the question can occur at any time in one’s life, whether taking that first new job, getting married, having children, getting divorced, or preparing for retirement. “Should I have a will?” is the common question. The emphatic response is “Yes”. There are many reasons to have Read on…