In New York State, a will is a written document that must contain a signature at the end witnessed by two people. The purpose of a will is to name beneficiaries who will receive property after your death. A will is revocable and can be destroyed by a physical act such as burning or tearing, by operation of law such as divorce, by presumption (for example, after your death the will cannot be found), or by a subsequent will. Accordingly, a will may be revised many times during one’s life. In a will, an executor for the estate and guardians for children may be named, and instructions for wishes to be carried out may be listed. Upon death, a will goes through the probate process and becomes a public document.
Continue reading “Do I Need to Make a Living Trust, or is my Will Enough?”
