Long Island Wills Attorney 

Assisting Clients With Drafting Wills in New York

One of the key parts of any estate plan is a will. The primary function of this legal document is to outline how to distribute your hard-earned assets after you pass away. Additionally, it can include instructions for guardianship of your children, details about funeral arrangements, and other important requests and wishes. 

Have you established a will? It is never too late to do so. At Law Office of Elisa Treglia, PLLC, we proudly assist people throughout Suffolk and Nassau Counties in completing thoughtful estate planning. Our attorney provides tailored advice and services to clients who entrust their future with us. See why thousands have chosen our Hauppauge firm for yourself. 

Schedule a free consultation with our Long Island wills lawyer by calling (516) 363-0470 or reaching out online. 

What is a Will?

A will, often called a last will, is a critical legal document that outlines how an individual's assets and properties will be distributed after their passing. Essentially, it is a roadmap that ensures your wishes are carried out according to your preferences. At Law Office of Elisa Treglia, our Long Island wills attorneys understand the significance of a well-drafted will in providing clarity and peace of mind for you and your loved ones.

A will typically includes instructions for the distribution of assets such as real estate, investments, personal belongings, and any other possessions of value. Additionally, it allows you to appoint an executor, who will be accountable for managing your estate and ensuring that your wishes are fulfilled. Without a valid will in place, the distribution of your assets may be subject to the intestacy laws of New York, which may not align with your intentions.

The Three Most Common Types of Wills 

There are three very common types of wills that you may want to create. Below, we offer details about each. 

Last will and testament:

• The most common type of will
• Allows you to outline how to distribute assets after death
• Names an executor who will be responsible for carrying out your wishes

Living will:

• Describes medical care preferences in the event you become incapacitated and cannot actively make decisions for yourself

Joint will:

• Typically, an option for spouses 
• Allows you to name your spouse as the beneficiary of your estate
• Includes details about what to do when you and your spouse have passed

When Should You Create a Will?

Creating a will is something everyone should consider at some point in their lives. While it may be uncomfortable to think about your passing, having a will in place can comfort you and those you love.

So, when should you create a will?

The short answer is as soon as possible. It is never too early to create a will, especially if you have assets and dependents. We are always prepared to help people navigate the complexities of wills at Law Office of Elisa Treglia, PLLC. If you do not have a will, feel free to contact us. We would gladly assist you in creating one that clearly outlines your wishes and is legally binding. 

Can You Change a Will?

Yes, you can change your will. Only a will’s creator (the “testator”) can change it, and they must be alive and of a “sound mind” to do so. 

When Should You Review & Update Your Will?

After certain life events and milestones, it may be a good idea to alter your will to match your and your family’s evolving needs and wishes. 

Consider reviewing and updating your will after the following:

• Marriage or divorce: You may want to change who will receive your assets, serve as a guardian over children, or make healthcare decisions on your behalf once you get married or divorced.
• You have a child: Updating your will can determine who will care for your children if something happens to you and your partner. It can also ensure your children receive any inheritance or asset you want them to have.
• You acquire new assets: Without a will, your assets will be distributed according to state law, which may not align with your wishes.
• You face significant health issues: In these difficult times, knowing your estate plan aligns with your needs and desires can give you peace of mind and make life easier for your loved ones.

Benefits of a Will

Drafting a will offers numerous benefits, both for you during your lifetime and for your beneficiaries after your passing:

• Clarity and Control: By clearly outlining your wishes in a will, you maintain control over how your assets will be distributed. This can help stop disputes among family members and ensure that your intentions are honored.
• Providing for Loved Ones: A will allows you to deliver for your loved ones according to your wishes. Whether it's leaving a financial legacy for your children, providing for a spouse or partner, or supporting charitable causes, a will enables you to allocate your assets in a way that reflects your values and priorities.
• Minimizing Family Disputes: Without a clear directive in the form of a will, disagreements among family members could arise regarding the distribution of assets. By having a legally binding document in place, you can minimize the likelihood of such disputes and help preserve family harmony during a difficult time.
• Appointing Guardianship: For parents of minor children, a will allows you to appoint guardians who will care for your children in the event of your passing. This ensures that your children are placed in the care of individuals whom you trust and who share your values and parenting style.
• Estate Tax Planning: A well-crafted will can also incorporate estate tax planning strategies to minimize the tax burden on your estate, thereby maximizing the value of the assets passed on to your beneficiaries.
• Avoiding Intestacy Laws: Without a will, your assets will be allocated according to the intestacy laws of New York, which may not align with your wishes. By drafting a will, you retain control over the distribution of your estate and avoid the uncertainties of intestacy.
• Peace of Mind: Perhaps most importantly, having a will in place provides you with peace of mind, knowing that your matters are in order and that your loved ones will be taken care of according to your desires.

How Do Wills Differ from Trusts?

As described above, a will is a legal document that outlines your final wishes for the distribution of property and assets after you pass. It can also designate guardians and name an executor to manage asset distribution. Your will goes into effect after you pass, and your assets will go through probate. 

A trust is a legal arrangement where you transfer assets to a trustee who will manage them for designated beneficiaries. Trusts can be revocable or irrevocable, meaning they can be permanent or changeable. Unlike wills, trusts go into effect once created. Plus, assets in trusts can avoid probate.