Saranac, NY Estate Planning Law Firms & Lawyers

You can either replace it with a new Will or, if you are only making small changes, amend it with a Codicil.  A Codicil must be executed with the same formality as a Will.  Contact a local estate planning attorney to make sure it is done right.

It depends entirely on how you are the beneficiary. Many bank accounts are created with their own beneficiary designations, and they are sometimes called payable on death or "POD" accounts. If that's what you're dealing with, all you should have to do is present the bank with proof of the death and your identity. If you mean that you're a beneficiary under a Will or Trust, the process gets quite a bit more involved and depends on many facts that you don't really spell out in your question.

With a timely filing you are able to disclaim an inheritance. The estate would transfer the property to another heir or if none accept the distribution the estate would remain responsible and eventually the property would be foreclosed upon by a lender or the condo association.