do I need to make a will?

[the bookwerm]

Jurisdiction

New York

I am old, no wife or kids and have one sibling and plan on dying soon. I want to leave my property to my younger brother so I don't need to make out a will, do I?

 

[justblue]

I am old, no wife or kids and have one sibling and plan on dying soon. I want to leave my property to my younger brother so I don't need to make out a will, do I?

sigh...You were advised on your last thread regarding your brother.

do I inherit by default?

 

[adjusterjack]

Yeah, make a will. They don't cost much and will make things easier for your brother.

 

[Zigner]

My brother lives in NY state and is getting old, and wants to leave everything to me (only living relative) when he dies.

I am old, no wife or kids and have one sibling and plan on dying soon. I want to leave my property to my younger brother so I don't need to make out a will, do I?

So...
Were you lying last year, or are you lying now?

 

[the bookwerm]

OOPS!
I forgot that I had posted that last year.
My brother just happens to be here now, and we were going over some stuff.

So...
Were you lying last year, or are you lying now?

I accept your apology.

 

[Zigner]

OOPS!
I forgot that I had posted that last year.
My brother just happens to be here now, and we were going over some stuff.

I accept your apology.

I see - so the lie happened now.

I'll let it slide.

You received suggestions on how to handle this in the prior thread. Review that thread.

 

[zddoodah]

I want to leave my property to my younger brother so I don't need to make out a will, do I?

What sort of property are you talking about? A piece of real estate? Your baseball card collection? Etc.

If you die without a will, your assets become part of your estate. Assuming someone steps up to administer your estate, that person will need to identify and take possession or control of your assets, identify your debts, use liquid assets to pay the debts and liquidate non-liquid assets if needed, and distribute anything that remains according to your state's laws of intestate succession.

If you have no surviving spouse or surviving issue (children, grandchildren, etc.) and no surviving parents, then your estate will be divided between the issue of your parents. If your brother is the only person who fits that description, then he'll get whatever is left of your estate after it has been administered.

If you make a will, you can achieve the same result. You could also create a trust, which might avoid probate.

One point of caution since you're in NY. Depending on your county of residence, avoiding probate and avoiding any involvement by the public administrator will be of paramount importance if you're talking about a piece of real estate and want to ensure it goes to your brother after your death.

 

[zddoodah]

I forgot that I had posted that last year.
My brother just happens to be here now, and we were going over some stuff.

I can't tell from this whether you're the dying brother or the younger brother. Whatever the case, I've now answered this twice for you.

 

[Zigner]

A trust may also be a wise instrument. As indicated previously, speak to an estate planning pro. (If that wasn't mentioned previously, then do it anyway.)

 

[army judge]

OOPS!
I forgot that I had posted that last year.
My brother just happens to be here now, and we were going over some stuff.

I accept your apology.

Please accept my sincere condolences upon your imminent death.

May you rest in peace, and may your passing be painless.

That said, as you'll soon be in the afterlife, why not avoid the hassle and simply GIVE your brother EVERYTHING you will SOON no longer need today????