Creating a Last Will involves a number of considerations. A person should take an inventory of his assets including the value of each and the type of ownership. It is important to know if the asset is owned in the person’s individual name, or is a joint asset or payable on death to a designated beneficiary.
Also, decisions need to be made concerning the identity of the beneficiaries to be named in the Will, as well as the amount of the bequest each is to receive. An Estate Lawyer in New York City can be helpful with creating a plan and understanding the nature and effect of asset ownership and Will provisions. Continue reading