Taking the time to create an estate plan and all its important parts, such as a last will and testament or powers of attorney, is something that many people never do. But if you do get around to making a will, you don’t need to worry that it will somehow expire. Though you may need to update your will after important life events, once you make a will that complies with all state laws you can rest assured that the document lasts until it’s needed.
To make a valid will in New York you need to create a written document that states your choices about inheritances and other issues that your estate planning attorney will tell you about. Once you have set your wishes down in writing, you then need to sign the document in the presence of two adult witnesses who will then sign it as well. As soon as this happens, your will is legally valid and will be accepted by a court after you die.
Wills don’t expire. These documents simply state your choices about what you want to happen to your property and other interests after you die. While you can always go back and change or update a will if you choose, they remain legally effective immediately upon creating them. You never have to register your will with the state court or other government body, but once you die someone will have to bring the will to a New York Surrogate’s Court to begin the estate settlement process.
- Estate Planning Conference Discusses “For the 99.5% Act,” SECURE, and More - June 23, 2021
- Inconvenient Truths Make Incapacity Planning a Must - June 22, 2021
- Trust Administration: Where Do You Begin? - June 10, 2021