Drafting Comprehensive Wills To Protect You
The most common type of estate planning tool is a will. This document designates how your assets will be distributed upon your death and provides instructions as to how to handle your estate.
When considering drafting a will or revising an existing will, talk to our legal team at The Tarantino Law Firm, LLP. Our skilled Buffalo attorneys help clients understand the benefits of different types of wills and other estate planning documents. We tailor each document to suit your specific goals and wishes for the future.
Why Should I Have A Will?
Having a will creates more security for the assets and legacy you achieved during your lifetime. Since a will is the place for you to specify how your estate should be handled, your assets will be distributed according to your wishes. A will can detail how assets are to be transferred into a trust and the guidelines beneficiaries may have to follow regarding assets.
If you have minor children, a will is necessary to establish guardians for your children. A guardian can be named and if something happens, your children will be placed with that person or persons.
Without a will, your wishes regarding the handling of your estate may not be known. In New York, estates of those who die without a will are distributed according to law. There is flexibility and no guarantee that your assets will be distributed as you want. If you die without a will and no living relatives can be located, the state of New York may receive all of the proceeds of your estate. A will is also an excellent tool for establishing charitable giving after your death.