QUESTION

How they determine how much money you get from a Will?

Asked on Dec 24th, 2012 on Wills and Probate - New York
More details to this question:
Recently we have been finding out who gets money from a will. The money given to certain people though is being reduced to a lower sum. Why is that? How do the lawyers determine how much money the recipient has to give back?
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1 ANSWER

Estate Planning Attorney serving New York, NY
1 Award
First, the will determines how much you get.  You are entitled to a copy.  Make sure you are getting the right amount.  Second, sometimes a will provides for certain payments before others, like debts.  If there is not enough money to make all payments, some will be reduced.  That is why it is often not advisable to put specific dollar numbers in a will, but give percentages.
Answered on Dec 25th, 2012 at 9:44 AM

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