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Figeroux & Associates | 26 Court Street, Suite 701, Brooklyn, NY 11242 | www.askthelawyer.us | 855-768-8845
When it comes to estate planning in New York, failing to address contingencies in your will or trust is like building a house with no roof — everything works fine until a storm hits. At Figeroux & Associates, we’ve helped countless clients avoid the costly and painful consequences of incomplete planning. One of the most overlooked — and most damaging — mistakes is not planning for “what if” scenarios.
What Are Contingencies in Estate Planning?
Contingencies are backup plans written into your will or trust to address unexpected events — like a beneficiary dying before you, a trustee becoming incapacitated, or a guardian refusing the role. These are not rare possibilities; they’re real-life situations that can and do happen all the time.
Yet many estate plans fail to include clear alternate provisions. When that happens, New York courts are left to decide what happens next — often in ways the deceased would not have wanted.
The Fallout from Missing Contingencies
- Unintended Beneficiaries
If your will leaves everything to one person and that person dies before you — and there’s no alternate listed — the estate may pass under New York’s intestacy laws. That means close relatives may receive everything, even if you were estranged or intended your assets to go elsewhere.
- Court-Appointed Guardians or Trustees
If you don’t name alternate guardians for your children or successors for your trustee or executor, the court will. That means someone you wouldn’t have trusted — or didn’t even know — could end up managing your children’s care or your family’s inheritance.
- Family Disputes and Legal Battles
Ambiguity leads to arguments. If your documents don’t clearly spell out what happens if a contingency arises, your heirs may end up fighting it out in Surrogate’s Court. These disputes can drain the estate’s value and cause lasting damage to family relationships.
- Delays and Increased Costs
Missing contingency clauses often trigger court intervention, which slows down the process and increases legal fees. Probate and trust administration become more complicated, and that complexity costs your loved ones time, money, and emotional peace.
Avoiding the Pitfalls
At Figeroux & Associates, we help clients build comprehensive estate plans that account for life’s unpredictability. We make sure your documents name:
- Alternate beneficiaries
- Successor trustees and executors
- Backup guardians for minor children
- Contingency instructions for specific bequests
We also regularly review and update your plan to reflect changes in your family, assets, or the law.
Your Legacy Deserves a Backup Plan
A solid estate plan doesn’t just cover what you hope will happen — it covers what could happen. Without contingencies, your plan is incomplete, and your family could be left vulnerable.
Call 855-768-8845 or visit www.askthelawyer.us to speak with an experienced estate planning attorney at Figeroux & Associates. We’ll help you close the gaps, address every scenario, and protect what matters most — no matter what the future holds.
