A will is a written declaration of what a person wants done with their property upon death. A person who dies leaving a will is said to die “testate.” The law requires certain formalities for a will to be valid. A valid will can transfer an interest in both personal property (e.g. bank accounts, furniture, stocks, clothing) and real estate. A will allows a person to name a trusted individual to serve as an executor of the estate and guardian over the children. It also can provide protection for family members; for example, trusts for adult incompetent children, or “sprinkling” trusts for minor grandchildren where a trustee has discretion to distribute income according to need.
What happens if my loved one dies without a will?
A person who dies without a will is said to have died “intestate”. Because the deceased person left no direction on how to dispose of their assets, New York law provides for how those assets will be distributed among the surviving members of the decedent’s family. A certified copy of the death certificate needs to be filed with the administration petition and other supporting documents in the Surrogate’s Court located in the county in which the decedent was domiciled (had their primary residence). There will be a filing fee based on the size of the estate. It may be advisable to seek the assistance of counsel.
The above information is an excerpt from an article entitled Surrogate’s Court published by the New York State Unified Court System. The full article can be found here.