Why every New Yorker needs an estate plan—no matter your income or age
What You Need to Know Up Front
Most people assume their spouse or kids will automatically inherit everything if they pass away without a will. In New York, that’s simply not true. If you die without a will in NYC, your estate will be distributed according to the state’s intestacy laws—not your personal wishes.
This blog is for New Yorkers—especially parents, professionals, and high-net-worth families—who want to understand the real consequences of not having an estate plan. You’ll walk away knowing exactly how the law works, what risks your family could face, and how to prevent them with proper estate planning in NYC.
Who Inherits If You Die Without a Will in NYC?
If you pass away without a will, New York State decides who gets what. This is called “intestacy,” and it follows a strict formula:
- If you have a spouse and children, your spouse gets the first $50,000 plus half of the remaining estate. Your children split the rest—regardless of age.
- If you have no children, your spouse gets everything.
- If you’re not legally married, your partner gets nothing under the law.
This surprises a lot of families. Many assume a surviving spouse gets it all, or that unmarried partners will be protected. But without a will, the state doesn’t care about your intentions—it only follows the formula.
Real Talk: Minor Children Inheriting Money
When minors inherit directly under intestacy laws, their assets are managed by a court-appointed guardian (not necessarily your spouse or partner). The court oversees the funds until the child turns 18—at which point the entire inheritance is handed over with no restrictions.
For many parents, the thought of a teenager receiving a large sum of money with no oversight is alarming. That’s where estate planning tools like trusts come in—but you need a will to set that up.
Real Story: When No Will Creates Chaos
A client came to The Village Law Firm after her sister died unexpectedly. She had a young child and a long-term partner—but no will. Because they weren’t married, the partner had no legal rights to the estate. Everything went to the child.
That triggered a guardianship proceeding, with the court overseeing how funds were spent on the child’s behalf. The partner had to petition the court just to access money for basic needs. What followed were months of stress, delay, and legal red tape—all while grieving.
This could have been avoided with a basic will and guardianship designation.
Why People Avoid Estate Planning—And Why That’s a Problem
We hear it all the time:
“I don’t have enough to need a will.”
“We’re not that wealthy.”
“It’s just too overwhelming.”
But estate planning isn’t about how much you have—it’s about making sure what you do have ends up in the right hands, in the right way, at the right time.
Even small estates can face complications without proper planning. And emotional stress, family conflict, and delays don’t care how big your bank account is.
TVLF works with clients in all financial situations, but especially high-earning NYC families who want to protect their kids, minimize stress, and maintain control.
What Can You Do to Avoid Intestacy in New York?
Here’s what we recommend:
- Create a valid will that outlines who should receive what.
- Designate guardians for minor children and backup options.
- Use a trust to manage assets for kids until a responsible age.
- Name an executor you trust to handle your affairs.
- Work with an experienced estate planning attorney who understands NYC-specific laws and family dynamics.
TVLF can walk you through every step—making the process efficient, respectful, and tailored to your unique life.
FAQs
What happens if you die without a will and have no spouse or kids in NYC?
Your estate would go to your parents, siblings, or more distant relatives—based on New York’s intestacy laws. If no relatives are found, the estate goes to the state.
Can I just write a will on my own?
Legally, you can. But without the proper language or execution, your will may be invalid. Estate planning in NYC involves complex rules—especially for parents, property owners, and high-net-worth individuals.
What’s the difference between a will and a trust?
A will directs how your assets are distributed after death. A trust can manage assets during your lifetime and continue after you’re gone, offering more control and privacy.
Next Steps
If you don’t have a will—or aren’t sure yours is up to date—now is the time to act.
Contact The Village Law Firm to schedule a personalized legal planning session and get the peace of mind your family deserves.
