Your Will should reflect several aspects of your final wishes. You should name your chosen Executor and a successor to represent your estate. You should name your specific and residual beneficiaries of your property. If you want to give $25,000.00 to your local animal shelter, library or place of worship, these would be considered specific bequests. If you leave all your property to your two children, your children would be residual beneficiaries. You may also want your house to go to one person, and your vacation cabin to go to another. All of these instructions can be included in your Last Will and Testament.
If you have minor children, you may name the person or persons you wish to serve as their Guardians. You may also wish to have a Standby Guardianship form as part of your Estate Plan so your named Guardian will have expedited access to the children. If your minor children are to inherit your estate, your will may contain a Testamentary Trust with designated ages for your children to inherit the property, and a named Trustee to administer the Minor Trust language in your Will.
Take care that your Last Will and Testament is properly executed pursuant to the laws of the State of New York. This is one reason it is so important to retain an experienced attorney to handle your Estate Plan. If you Last Will and Testament is adjudged invalid, your instructions and nominations will be for naught.
Contact us today for more information
If you need to create your last will and testament, turn to the dedicated team at Nolfo McKenna Law. We will work with you to ensure that you can have peace of mind knowing that all your assets will be taken care of.