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3 Reasons Why You & Your Spouse Need An Estate Plan

3 Reasons Why You & Your Spouse Need An Estate Plan - Estate Plan - Russo Law Group, P.C. People often say that you only need an estate plan if you have a lot of money and/or a lot of assets. That statement is not necessarily true.

Reason 1: An estate plan is also important for medical and simple financial decisions, especially for a spouse in the event of disability or incapacity. It makes the entire process a lot more stress-free and simple for the spouse.

If something happens to me, my spouse will inherit everything I have anyway, so why do I need to make an estate plan?

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Can I Disinherit My Spouse?

Can I Disinherit My Spouse? Eric J. EinhartUnder New York law, the answer as to whether you can disinherit your spouse is … not really.

In New York, there is something called the spousal right of election, which states that a surviving spouse has the right to assert his or her right to elect to inherit a portion of your net estate. As a result of this law, you cannot disinherit your spouse without your spouse’s waiver of this right.

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