Tuesday, October 2, 2007
Spouse's right to your estate in New York
It is very important that when planning your estate that you consider whether or not you need a pre-nuptual or post-nuptual agreement. It is important to consider if you have children from a previous marriage or out of wed lock (with someone other then your current spouse). The form will include a statement that your spouse will waive a portion or the entire portion of the estate that she or he is entitled to as your spouse in New York. If you die with or without a Will you will need this agreement if you intend to have your children or other inherit your estate and not your spouse. However, your spouse must agree and sign this document. If not, your spouse has the right to file an form known as a waiver and not file a "right of election" in your probate proceeding or administration proceeding. This document, discussing it and thinking about it can save your family and estate a lot of money and time.
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