Download - Misconceptions About Wills and Probate
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
MISCONCEPTIONS ABOUT WILLS AND PROBATE
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
WHAT ARE WILLS?
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
Wills are estate planning documents used to provide instructions regarding
what happens to your property following death.
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
Wills can also provide guardianship instructions for kids, instructions
for funeral plans, and more.
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
WHAT IS PROBATE?
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
Probate is the process that occurs to:
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
Validate a will
Transfer assets according to the instructions in the will
Transfer assets through intestacy laws if there is no will
Otherwise wind up the affairs of the estate
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
COMMON MISCONCEPTIONS
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
There are common misconceptions about both wills and the probate
process.
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
MYTH: YOU DON’T NEED A WILL UNTIL YOU ARE OLD
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
One myth is only older people should worry about making a will.
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
This myth is wrong because younger people pass away unexpectedly far
too often.
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
No matter what age you are, you should have a will to make
preferences known on your legacy and on the care of your children and
loved ones.
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
MYTH: A WILL IS ENOUGH TO BE A COMPLETE ESTATE PLAN
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
Too many people create a will and assume they are done with the
estate planning process.
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
There may be many other steps you should take in addition to will creation that are important to
making a comprehensive estate plan.
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
Trusts, advanced directives, and asset planning are among the other
estate planning steps you might want to consider taking.
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
MYTH: PROBATE IS ALWAYS REQUIRED
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
Many people believe their family will always need to go through
probate after a death in order to inherit.
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
Family members of a deceased person also frequently believe
probate is required in every circumstance after a death.
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
This isn’t always true.
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
Estate planning can make avoiding probate possible, and small estates
won’t always transfer through probate.
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
MYTH: IF ALL ASSETS TRANSFER OUTSIDE PROBATE, ESTATE TAX IS
NEVER CHARGED
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
When assets transfer outside of probate, their value can still be counted for estate tax purposes.
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
How an asset transfer is treated will depend upon different factors
including the way in which ownership is changed; who the new
owner becomes; and more.
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
An attorney can help you to avoid estate taxes in an effective way if
you are concerned about taxation.
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
MYTH: YOU DON’T NEED A LAWYER
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
You should have a lawyer both when making an estate plan and when going through the probate
process.
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
Contact an experienced attorney to find out more about how a legal
professional can help.
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
LEARN MORE ABOUT MISCONCEPTIONS ABOUT WILLS AND PROBATE, NEW
YORK
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196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
Click to visit mrobinsonlaw.com. Or call us at (585) 374-5210 to
schedule a consultation.