Depending on your unique circumstances, there are laws that dictate what does or doesn’t happen if you die without a will. The best way to protect your loved ones, is to write a will that makes sure your assets pass as you intend. The present law default settings (laws of intestacy) do not necessarily reflect the wishes of most single people or unmarried couples.
For single people, planning can be more challenging because there are no special tax breaks, like an unlimited marital deduction. Also, if you fail to write a will, your property will pass to your blood relatives and not necessarily the people who are closest to you. There are also no federal law protections about the right to receive a spousal share of a pension, or continuation health care coverage.
If you have further questions about how the law applies to your unique situation, schedule a consultation by visiting our website or contacting our offices at (914) 923-1600.