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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 children will immediately receive your entire estate. If you would like for your assets to be placed in trust for your children, 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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