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Since you did not devise a plan for the distribution of your assets, New York Law directs that your net estate will be distributed as follows (Remember that jointly held assets automatically pass to the other joint owner !!) 1. Your spouse will receive your entire estate. Your other relatives (parents, brothers and sister) will not receive any property from your estate. As you can see, it is very unlikely that the plan chosen by New York is identical to your intended disposition of your estate. If you would like for your assets to be distributed in a different manner, you must execute a will. Unfortunately, most people do not wish to have their assets distributed according to the intestacy laws of New York but procrastinate until it is too late. • Visit our Acclaimed Estate Planning Education
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