Can I fund a trust with life insurance?
So you’re interested in funding a trust with proceeds from life insurance. There are two ways that a trust might be funded by life insurance proceeds. A trust might be funded life insurance if an unfunded revokable insurance trust is created and you name the trustee of the trust as the policy beneficiary.
Another way you might make life insurance payable to a trust is to have a testamentary trust and name the “trustee to be named in my will” as beneficiary.
The only way to know for sure what the best way to fund a trust with the proceeds of a life insurance policy is to contact a New York Estate Attorney.
If you are looking for a New York estate attorney with locations in New York City and Long Island, call the Law Offices of Albert Goodwin at (212) 233-1233.
Can my out of state will be probated in New York?
One question that some people have when considering their estate is whether a will from another state can be admissible to probate in New York.
New York has a foreign wills act, which allows a will to be admissible to probate if the will was validly executed under the law of the state where the will was executed. The will was validly executed under New York law. Or the will was validly executed under the law of the state where the testator was domiciled (living and planned to stay) at the time the will was executed or when the testator died.
In order to figure out whether an out of state (foreign) will can be admissible to probate in New York, you may consider speaking with a NY estate attorney. They will be able to explain how the laws apply to your specific situation and whether the testators will can be probated in New York. This applies if you’re the person trying to get the will probated or perhaps if you’re a person who doesn’t want the will to be probated. If there’s a chance you’ll have an estate fight it’s important to know where you stand legally.
If you wish to speak to a New York estate attorney, call the Law Offices of Albert Goodwin at (212) 233-1233.
Can I write my own will, without a witness, by myself and just sign it?
Can I write my own will, without a witness, by myself and just sign it?
On some television shows or movies people just write their own will with a pen and piece of paper. When a will is entirely self-written by the testator (the person whose will it is) and unwitnessed it is a holographic will. In New York, this type of will is generally not valid. There are a few exceptions, where this type of will would be valid in New York including if it was written by a member of the armed forces during a war or written by a mariner at sea..these are however narrow exceptions.
If the handwritten will was properly witnessed and executed then the will might be valid and probable. If you have questions as to whether a self-written will is valid in New York you should contact a New York estate attorney. If you don’t have a valid will then your estate may be distributed intestacy and your things may not end up being distributed to the people you intended.
If you wish to speak to a New York estate attorney, call the Law Offices of Albert Goodwin at (212) 233-1233.
