New York intestate laws determine what happens to your property if you pass away without having a last will and testament. It is important to know what intestacy laws will dictate for your property if you die without a will. If someone you love has passed away with no will, you should also be aware of what intestacy laws dictate should happen to that person’s inheritance.
Eghrari Wealth Training Law Firm provides legal help with creating a comprehensive estate plan so the distribution of your property will not have to be dictated by new York intestate laws. We also represent family members after someone has passed away and decisions must be made regarding the transfer of a deceased person’s assets. To learn more, give our Suffolk County estate planning lawyers a call.
Understanding New York Intestate Laws
If you die intestate, the law tries to ensure that your property will end up going to close relatives. There are different rules for who will inherit property depending upon the specific family situation of the deceased person. The New York Court’s website explains the rules for what happens to property in different family situations. For example:
- If the person who dies is married with a surviving spouse and has no children, then the spouse will inherit everything.
- If the person who dies has children but does not have a spouse, the children will inherit everything. In order for kids to be able to inherit from their parents, a legal parent-child relationship has to exist. Adopted children thus inherit just as biological children do. However, step children and foster children who have not been legally adopted will not inherit under intestacy laws. In addition, if a child is born to a man outside of marriage, the child will inherit only if paternity has been established. If a legal parent-child exists but a child is born after the deceased person has passed away, the child still inherits.
- If the person who dies has a spouse and children, the spouse will inherit the first $50,000 plus half of the balance of the estate. Anything else which remains will go to the children.
- If the person who dies does not have a spouse or children but has parents, the parents will inherit everything.
- If a person who dies has siblings but not a spouse, children, or parents, then the siblings inherit everything.
In some situations, a person will die after his or her child does. If this happens, the grandchildren can step into the deceased child’s place and inherit.
If there is no family, then the money from the deceased person will go to the state of New York.
Creating a Will so You Don’t Die Intestate
Many people do not want intestacy laws to determine what happens to their money and property after a death. Not only can dying without a will result in family fighting and lead to a delay in the transfer of assets, but it can also result in money and property being distributed in a way which the deceased person would not have chosen.
If you want to ensure that the state of New York does not get to determine exactly how your property is distributed following your death, you should take legal action and create a last will and testament or otherwise create a comprehensive estate plan. You need to create your will while you are still of sound mind and you have to follow all requirements under the laws of New York state to make the will valid. If you wait too long or don’t follow formalities, the will may not be probated and New York intestate laws would apply instead.
Getting Help from an Attorney with New York Intestate Laws
If you do not want New York intestate laws to apply to your estate after your death, you should contact Eghrari Wealth Training Law Firm today. Our legal team will assist you in creating a comprehensive estate plan so you can determine what happens to your assets and so you can establish your own legacy.
If someone in your family has died without a will, our legal team can also assist you with taking steps to transfer the deceased person’s assets under the terms set forth in New York laws on intestacy. To find out more about wills and intestacy laws, you can join us for a free seminar. If you are ready for personalized advice that is specific to your situation, give us a call at (631) 265-0599 or contact us online today.