Dying Without a Will in NY

Don’t have a will yet and want to know what can happening if you end up dying without a will in NY? Check out this video by our New York probate lawyer.

Question:

What Happens if I die without a will in New York?

Answer:

If you don’t have a will, New York State has a plan for you. It may not be a plan you like, but New York State has an estate plan for you if you don’t have a will. It’s called intestacy. They appoint an administrator for your estate. By preparing a will, you can designate who will be the beneficiaries of your estate. You can set up a trust through your will. You can leave particular items of personal property. If you want to leave your 1965 GTO to someone, you can specify that, a certain dollar amount, or percentages. You can appoint executors to administer your will. If you have children under the age of 18, you can designate who will be their guardians if you and your spouse are deceased.

Some of the myths about dying without a will are that your estate does not go to the state of New York if you do not have a will. There is a whole plan of who gets your estate if you die without a will. For instance, if you have a spouse, everything goes to your spouse. If you have a spouse and children surviving you and you have no will, the first $50,000 goes to your spouse, and the remainder of your estate- 50% goes to your children and 50% goes to your spouse. There are many assets that do not pass either through intestacy or your will.

Are you going through the estate planning process and have questions about dying without a will in NY? Contact our experienced New York probate Lawyers at Friedman & Ranzenhofer today to schedule your consultation.

We are here to help.

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