The creation of a valid Will in New York State is an important step for your potential estate plan. 

As you likely understand, it is the governing document at your death.  Both your family and close relatives as well as the New York State court (called Surrogate's court) will be looking to this document to discern what your purpose upon your death.  So, creating a Will that is at once comprehensive and clear is the first point of departure to efficiently navigate the economic and legal ramifications of your death.  The second point, which is covered on another page, is to contemplate having a living trust, which could even further reduce the complexity of the administering your property at your death. 

The strategy that Estel Law provides for creating a Last Will and Testaments is as follows:

• Identify all potential ramifications of your death on the family (beyond just property, but also guardianship of minor children),

• Identify any cost saving opportunities (like diverting a residential address to a trust),

• If necessary, discuss tax efficient structures for the passing on of a large estate to the next generation,

• Consider the importance of healthcare instructions in the event that you become incapacitated and in a terminal medical state, and

• Advise on future options that you and your family may be planning (for example, a move to another jurisdiction).

Only with these considerations discussed does a Last Will and Testament, and other estate planning documents, become comprehensive. 

When talking to Estel Law, you should also be thinking about the following question:

"In the worst case scenario, if things are as they stood today, what would happen to my loved ones and how will they be provided for?"

This question often clarifies the important things.  For example, it will help create the details of how healthcare could be provided in the event of an incapacitation or how assets are to pass to ensure the well being of your spouse or children. 

Of course, the realities of death are difficult, even when in great health, but it is something that can be planned for to lighten the burden for those you love and care for. 

Estel Law would like to be both a discussion partner with you on the ramifications of death and also a legal partner trusted with the preparation of your estate documents.

For a free 30-minute discussion with an estate planning attorney here at Estel Law, give us a call: