The Potential Benefits of a Last Will and Testament

Clients sometimes ask us whether they should have a Last Will and Testament (“Will”). The simple answer is Yes. All individuals over the age of eighteen (18) should have a Will.

A Will essentially dictates who gets what. If an individual dies without a Will, then the law dictates “who gets what” and the law may or may not align with the individual’s wishes. For example, many people do not know that under New York’s Estates, Powers and Trusts Law Section 4-4.1, if an individual is married with children and they die intestate (i.e. without a Will), then their spouse gets the first $50,000.00 and then the spouse splits the balance of the estate 50/50 with the children. Anyone in New York who wishes to avoid that result needs a Will.

Another good reason to have a Will is to appoint a Guardian for minor children. Without a Will, a time consuming and expensive court proceeding would occur before a Court would decide on the children’s Guardian. Needless to say, such a process could make an already difficult process even more difficult for the decedent’s heirs and especially their children.

 

For more information on a Last Will and Testament or other related estate planning issues, please contact us at (914) 338-8050 or send an e-mail to keith@betenskylaw.com. We look forward to hearing from you.

Betensky Law PLLC
118 N. Bedford Road, Suite 302
Mount Kisco, New York 10549
(914) 338-8050
keith@betenskylaw.com
www.betenskylaw.com

This is ATTORNEY ADVERTISING. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of an attorney/client relationship. Prior results do not guarantee a similar outcome.

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