New York residents create wills and trusts to ensure that their families are financially secure when they pass away. Despite this, many family members could spend months or years searching for the legal, financial and health care documents. Along with putting all of these items in one place and making them accessible to family members, digital document archives are generally less expensive than traditional estate planning methods.
While some New York residents may believe that there is no reason to draft an estate plan if they do not have children, this could not be further from the truth. Individuals without children must take extra precautions regarding the disposition of their assets because they are not as protected by laws of intestacy as people with children are. New York's laws of intestacy favor a surviving spouse or children to inherit a decedent's belongings. However, unmarried or childless individuals may wind up having a long-lost relative inherit their belongings if they do not have a valid will or trust.