Throughout your lifetime, you may have expressed your intentions of what is to become of your assets at the time of your unfortunate passing. But your intended beneficiaries cannot claim your word alone in front of the New York State Surrogate’s Court. Rather, your wishes must be clearly outlined in writing within your executed Last Will and Testament document. Otherwise, this asset administration may go quite differently. With that being said, please continue reading to learn what happens to your assets without a will document and how an experienced Putnam County wills attorney at the Law Office of Andres D. Gil, PLLC can help you establish a valid and enforceable one before it is too late.

What happens to my estate’s assets without a will?

For starters, your estate’s assets must pass through the New York State Surrogate’s Court regardless of whether you executed a will for them during your lifetime. But notably, without a will, the court may be left with no choice but to revert to New York State’s intestacy laws. These laws establish a certain succession for which of your relatives should receive your assets first. Unfortunately, these laws do not consider the strength of the relationship you shared with each of these relatives. This general succession goes as follows:

  • If you pass with children but no spouse: your children may inherit it all.
  • If you pass with a spouse but no children: your spouse may inherit it all.
  • If you pass with a spouse and children: your spouse may inherit the first $50,000 worth of your assets, plus half of the balance, and your children the remainder.
  • If you pass with parents but no spouse or children: your parents may inherit it all.
  • If you pass with siblings but no spouse, children, or parents: your siblings may inherit it all.

What are other intestate succession rules?

Understandably, every family dynamic is different, and New York State’s intestacy laws attempt to rule on every possible scenario. For example, if you have surviving half-siblings, they may share the same right to your assets as your siblings with both parents in common.

In a similar sense, your posthumous children may be entitled to an intestate property share in the same way that your existing biological children and legally adopted children are. The same goes for your children who were born outside of a marriage but who you have established or acknowledged paternity over; and, your grandchildren of a parent (i.e., your eligible child) who has also sadly passed on.

There is no need to remain hesitant when you have a skilled Putnam County estate planning attorney on your side and supporting you. So please inquire with us at the Law Office of Andres D. Gil, PLLC at your earliest possible opportunity.