Legal Question in Wills and Trusts in New York

Re: wiil dad

Tangible Personal Property, as such term is used in a Will is traditionally limited to such items of personal property (furniture, furnishings, jewelry, clothing, etc.). The residue is traditionally all remaining property, like bank accounts, brokerage accounts, real estate and the like, that you own personally and have no joint owner (which assets go by account registration) or do not have a beneficiary designation (like life insurance or retirement plans). As to your second question, many states have spousal election laws that provide a minimum value of one's estate (usually 1/3) must go to a surviving spouse; the exact calculation sometimes taking into consideration the surviving spouse's personal assets, as well (using your first question) as what else is left to the surviving spouse under the Will. The spousal laws make no distinction on the length of the marriage. I suggest you speak with an estate attorney about how your Will should be drafted.