Wills are estate planning documents used to provide instructions regarding what happens to your property following death. Learn more about wills and probate in this presentation.

1. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
MISCONCEPTIONS ABOUT WILLS
AND PROBATE

2. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
WHAT ARE WILLS?

3. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
Wills are estate planning documents
used to provide instructions regarding
what happens to your property
following death.

4. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
Wills can also provide guardianship
instructions for kids, instructions
for funeral plans, and more.

5. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
WHAT IS PROBATE?

6. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
Probate is the process that occurs
to:

7. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
Validate a will
Transfer assets according to the
instructions in the will
Transfer assets through intestacy laws
if there is no will
Otherwise wind up the affairs of the
estate

8. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
COMMON MISCONCEPTIONS

9. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
There are common misconceptions
about both wills and the probate
process.

10. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
MYTH: YOU DON’T NEED A
WILL UNTIL YOU ARE OLD

11. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
One myth is only older people
should worry about making a will.

12. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
This myth is wrong because younger
people pass away unexpectedly far
too often.

13. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
No matter what age you are, you
should have a will to make
preferences known on your legacy
and on the care of your children and
loved ones.

14. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
MYTH: A WILL IS ENOUGH TO
BE A COMPLETE ESTATE PLAN

15. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
Too many people create a will and
assume they are done with the
estate planning process.

16. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
There may be many other steps you
should take in addition to will
creation that are important to
making a comprehensive estate
plan.

17. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
Trusts, advanced directives, and
asset planning are among the other
estate planning steps you might
want to consider taking.

18. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
MYTH: PROBATE IS ALWAYS
REQUIRED

19. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
Many people believe their family
will always need to go through
probate after a death in order to
inherit.

20. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
Family members of a deceased
person also frequently believe
probate is required in every
circumstance after a death.

21. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
This isn’t always true.

22. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
Estate planning can make avoiding
probate possible, and small estates
won’t always transfer through
probate.

23. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
MYTH: IF ALL ASSETS TRANSFER
OUTSIDE PROBATE, ESTATE TAX IS
NEVER CHARGED

24. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
When assets transfer outside of
probate, their value can still be
counted for estate tax purposes.

25. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
How an asset transfer is treated will
depend upon different factors
including the way in which
ownership is changed; who the new
owner becomes; and more.

26. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
An attorney can help you to avoid
estate taxes in an effective way if
you are concerned about taxation.

27. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
MYTH: YOU DON’T NEED A
LAWYER

28. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
You should have a lawyer both
when making an estate plan and
when going through the probate
process.

29. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
Contact an experienced attorney to
find out more about how a legal
professional can help.

30. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
LEARN MORE ABOUT MISCONCEPTIONS
ABOUT WILLS AND PROBATE, NEW
YORK

31. 196 North Main St., PO Box 417, Naples NY 14512
1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817
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