Estate planning in New York can be provided through a number of different documents. First and foremost, a Last Will and Testament sets forth the various provisions that a testator desires regarding the disposition of his estate. Another important estate planning device is a Revocable Living Trust. This type of trust allows a person to place assets in the trust during life and then have them distributed in a certain manner upon death. The essential element of such a trust is that it is revocable and the creator can modify it or revoke it.
Looking at the various estate planning tools, the overriding element is that a person who creates these documents is able to direct the disposition of assets after death. Thus, a person’s desires and intentions can be memorialized and carried out by his fiduciaries such as Executors and Trustees.
Since these documents reflect a person’s intentions, it is important that the person creating them make his desires clearly known. Estate lawyers assist their clients so that there is no ambiguity regarding the names of beneficiaries and the assets or interests in the estate that are to be distributed. The New York Probate Lawyer Blog has published many articles regarding Wills and planning an estate. When issues arise regarding the validity or meaning of a Will, estate litigation in the Surrogate’s Court can arise.