What happens if you die without a will in New York?
Intestacy – Dying without a will in New York.
When an individual dies without a will, they die intestate. This means that the deceased’s assets are divided up in accordance with the law. In New York, Estates Powers and Trusts Law 4-1.1 provides for a distribution. This article will only provide a brief introduction to the intestacy statute, should you have any questions, feel free to call Quinn and Tyrrell at (516) 221-5100.
- If you die married and have no children, and you have no will, all of your assets pass you your spouse.
- If you die married and have children, and you have no will, $50,000 and one-half of your assets pass to your spouse, the other half pass to your children in equal proportions (It is important to be aware of this scenario if you intend to leave all of your assets to your spouse).
- If you die and you are not married, but have children, and you have no will, all of your assets pass to your children, equally.
Article – Intestacy – Dying without a will in New York
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Disclaimer: This is meant as a brief overview of the law in New York, and is not intended to be interpreted as legal advice. Nothing herein is to be construed as legal advice. If you have any questions, please feel free to call Quinn & Tyrrell at (516) 221-5100.