Probate and Estate Lawyer For Gramercy Park Estates
If you are a resident living in Gramercy Park, making sure you have a probate and estate lawyer on standby is probably one of the most intelligent decisions you can make. Assuming you own property or have assets, you should give some thought as to who should be the beneficiary of your belongings for when you pass away. There are generally two approaches you can take to ensure your rightful heirs get what is intended. The first approach is creating a last will and testament. The will goes into effect at the moment of your passing assuming it is accepted by Surrogate’s Court. Your other option is setting a trust in place.
The Benefits of a Will
A last will and testament is generally inexpensive. This is one of the main reasons individuals opt-in for a will as opposed to a trust. But do not be fooled. Just because a will is inexpensive does not mean it entails a simple procedure. One of the main reasons a will may not be accepted by the courts is because of an improper will ceremony. During the will signing, witnesses as well as the testator need to be fully aware of what is taking place. To demonstrate this awareness, certain announcements need to be made by all parties. There is also a specific order in how the will should be signed. It is recommended that when you do get a will, go to an estate lawyer. A personal injury or general practice lawyer may be qualified to assist in creating a will, but knowing many of the nuances involved in proper will execution comes with experience. If you can ensure your attorney knows what they are doing, getting yourself a last will and testament is a great option.
Probating a Will for Gramercy Park Residents
Probate comes into play when a will has been created. It is essentially the process of executing the directives stipulated in the will. In addition to transferring the property in the estate to the rightful heirs, the probate process also has the duly appointed executor to pay expenses for the estate, file tax returns, and compensate creditors that have a claim on the estate. Although the probate process doesn’t happen overnight, most probate matters are fairly straightforward. When a will contest ensues, that is when things get more complicated. Estate litigation comes into play.
If you are a resident in Gramercy Park living in the 10003 area, call our law firm at (646) 233-0826.