A will is a vital part of comprehensive estate planning and ensures that your assets will be distributed exactly as you want. However, a will must comply with the legal requirements in Queens, NY to be accepted as valid. Consulting an estate planning attorney ensures that your will is legally binding and will be recognized by the probate court.
Six Steps for Creating a Legally Binding Will in Queens, NY
1: Make a List of All Your Assets
Compiling a full list of your assets ensures that nothing is accidentally missed when drafting your will. It’s a good idea to include all of your assets, even if they fall outside the estate, such as a trust. This can help you to make an informed decision about how to divide your estate fairly.
2: Decide How You Want to Distribute Your Estate
There’s no right or wrong way to distribute your estate. Deciding whom to leave your assets to is a personal decision. You can leave all your assets to one person, or you can divide them between family, friends, and charitable organizations.
However, not all wishes can be legally enforced. For example, under New York law, it’s not usually possible to exclude spouses or minor children completely. It’s therefore advisable to seek professional advice to ensure your instructions will be legally binding.
3: Choose Your Executors
Being an executor is a huge responsibility, especially where the estate is large or complex. Not everyone is willing to shoulder such a burden, or they may not have the required spare time. Many individuals choose a trusted friend or family member, but some prefer to name a lawyer. This can ensure that your will is professionally executed in a swift and timely manner.
4: Hire an Estate Planning Attorney
New York law requires that your will is in writing. There are many DIY templates available online, but often they are unsuitable or insufficient. If your family dynamics are complex or your estate is large, there is a risk that unlawful clauses may be inadvertently included. For this reason, it’s strongly advisable to hire an estate planning lawyer to draft your will.
5: Sign Your Will
Even if your will has been professionally drafted, it doesn’t become legally binding until you have signed it in the presence of two qualified witnesses. These witnesses must also sign the will. This step is designed to eliminate coercion and to ensure that you are of sound mind when drafting your will. It is advisable that your witnesses not be beneficiaries to avoid allegations of undue influence at a later stage.
6: Store Your Will Securely
Once your will is complete, it should be stored securely in a place that’s accessible to your executor. Some individuals choose to store their will in a safe deposit box at their lawyer’s office for safekeeping. A copy can also be lodged with the Surrogate’s Court in New York.
We understand the importance of creating a will that truly reflects your wishes. Contact us today at Simon & Gilman, LLP in Queens, NY to discuss your requirements.
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