New York estate planning lawyer Yana Feldman (https://yanafeldmanlaw.com/10-frequently-asked-questions-about-setting-up-a-will/) of New York Legacy Lawyers has published a new article discussing the frequently asked Questions about setting up a will." This article aims to address common concerns and provide clarity on the process of creating a will, emphasizing its importance for individuals and their families.
New York estate planning lawyer Yana Feldman highlights the pressing need for more Americans to engage in estate planning. "It's concerning to see that 60% of American adults haven't created a will or living trust," Feldman states. "A small amount of planning can save your heirs a significant amount of stress, effort, and money."
The newly released article by New York estate planning lawyer Yana Feldman offers readers a clear and concise guide to understanding wills. Feldman explains, "A will is a legal document that details how you wish your assets to be distributed upon your death. It ensures your property goes to the individuals or organizations you designate, minimizing confusion and conflict among beneficiaries."
Feldman’s article is structured around ten frequently asked questions that demystify the process of setting up a will. The questions cover a wide range of topics, from the basic requirements for creating a will to more specific queries about leaving instructions for burial and the necessity of notarization. Each answer is designed to provide practical and actionable information for individuals considering their estate planning options.
One of the key points Feldman discusses is the potential consequences of not having a will. "If you don’t have a will, state intestacy laws will determine how your property is divided, which might not reflect your wishes and could lead to lengthy legal proceedings," she warns. This highlights the critical role a will plays in ensuring one's intentions are honored and reducing the burden on loved ones during a difficult time.
The article also addresses common misconceptions, such as the belief that a will must be notarized to be legal in New York. "In New York, wills don’t have to be notarized to be legal," Feldman clarifies. This information can help alleviate unnecessary concerns and streamline the process for individuals drafting their wills.
Furthermore, Feldman discusses the flexibility of wills, including the ability to leave assets to organizations rather than individuals and the process for revoking a will if circumstances change. "You can revoke a will at any time by destroying it or creating a codicil, which is an amendment to the existing will," she explains. This flexibility ensures that a will can evolve with the testator’s changing life circumstances.
The article also touches on the differences between wills and trusts, another essential aspect of estate planning. Feldman notes that while both are useful, they serve different purposes and have distinct advantages. "A will is subject to probate court, which can be time-consuming and costly, while a trust can avoid probate and provide greater control over asset distribution," she elaborates.
For those unsure about where to store their original will, Feldman offers several options, including leaving it with an attorney, keeping it in a safe deposit box, or storing it at home in a fireproof and waterproof safe. She emphasizes the importance of informing trusted individuals about the will's location to ensure it can be accessed when needed.
Creating a will is a critical step in ensuring that one's assets are distributed according to their wishes and that their loved ones are taken care of after their passing. New York estate planning lawyer Yana Feldman and her team at New York Legacy Lawyers are dedicated to helping clients navigate the complex aspects of estate planning with personalized and professional guidance.
About New York Legacy Lawyers:
New York Legacy Lawyers is a prominent law firm based in New York, well-versed in estate planning and related legal services. The firm is committed to providing personalized and effective legal solutions to help ensure clients' wishes are honored and their assets are protected. With a dedicated team of attorneys, New York Legacy Lawyers can offer comprehensive estate planning services tailored to meet the unique needs of each client.
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Email: yana@yanafeldmanlaw.com
Website: https://yanafeldmanlaw.com/
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