Post on 05-Apr-2017
196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
MISCONCEPTIONS ABOUT WILLS AND PROBATE
196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
WHAT ARE WILLS?
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.
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.
196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
WHAT IS PROBATE?
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:
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
196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
COMMON MISCONCEPTIONS
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.
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
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.
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.
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.
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
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.
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.
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.
196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
MYTH: PROBATE IS ALWAYS REQUIRED
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.
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.
196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
This isn’t always true.
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.
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
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.
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.
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.
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
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.
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.
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
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.