A solid estate plan may consist of a variety of estate planning documents that are designed to protect your interests. Depending on your individual needs, your estate plan may consist of the following:
Our experienced team of estate planning attorneys will work closely with you to devise a plan that addresses all of your estate planning needs.
It is important that clients know that if they do not have an estate plan or do not take proactive steps to name decision makers in their life, the state has a plan for them. For example, if a person dies without a trust or will, any property that is part of his or her probate estate is subject to division, based on New Jersey’s intestate laws. While you may want your spouse and children from a previous marriage to split your property equally, state law allows your spouse to inherit the first 25% of your property up to $200,000 and half of the remaining balance while your children inherit the remainder. You may have had a falling out with your parents, but if you have no spouse or children, they are next in line to inherit. If you don’t have any children but your parents and your spouse survive you, your parents will have a right to inherit part of your property. The only way to avoid these unwanted outcomes is to have an estate plan drafted for you that communicates your wishes.
There are also other important default laws that apply if you do not proactively plan. For example, if you do not name an executor, the court will appoint an administrator and this person will be required to post a bond. If you do not have a healthcare proxy, the healthcare organization can appoint a surrogate to make decisions for you.
An estate plan should be made up of fluid documents that can change over time. Your will can also contain several contingencies, like what happens in case of divorce or death of a beneficiary. However, your estate plan may need to be updated. If any of the following situations occurred, you may need to change your estate plan:
An estate planning lawyer uses his or her knowledge of estate planning law to tailor an estate plan that addresses your needs. Estate planning is a sensitive subject, so it is important to work with a lawyer who will handle your case with compassion. A caring estate planning lawyer will guide you through the process, identify your objectives and patiently explain your options. A solid estate plan will accomplish the following:
An experienced estate planning attorney will also provide you with guidance and describe your options if you are dealing with a complex estate planning issue, such as planning for a disabled child, protecting children from a previous marriage or transitioning business ownership in a family business.
Retaining the services of a qualified New Jersey estate planning attorney is the first step in protecting your legacy and your loved ones.
When you meet with your estate planning lawyer for the first time, you may want to prepare a list of questions. The estate planning attorney can answer these questions during your initial consultation. These questions will help you get to know the estate planning lawyer better, as well as have a better understanding of your specific needs. Some questions you may wish to include on your list are:
It is never too early to start estate planning. Unfortunately, too many people put it off until it’s too late. None of us are guaranteed tomorrow, and estate planning is something that needs to be done while you still have the legal capacity to enter into a contract. Otherwise, if the unexpected happens and you are incapacitated for any reason, decisions about how your affairs are handled or decisions about the medical care you receive will be determined by others. Estate planning is about taking care of the people who matter most in your life.
It is never too early to start estate planning. Unfortunately, too many people put it off until it’s too late. None of us are guaranteed tomorrow, and estate planning is something that needs to be done while you still have the legal capacity to enter into a contract. Otherwise, if the unexpected happens and you are incapacitated for any reason, decisions about how your affairs are handled or decisions about the medical care you receive will be determined by others. Estate planning is about taking care of the people who matter most in your life. They are counting on you and taking care of your estate planning while you still can will ensure that your legacy of loving and caring for them will continue.
The estate planning attorneys at Hoffman & Hoffman have over 40 years of combined experience helping the people of New Jersey and New York with their estate planning to maximize wealth preservation for them and their loved ones.
When you choose Hoffman & Hoffman handle your wills, trusts, and estate planning needs, you can expect professional, competent counsel, and personal attention to make sure that your wishes are fulfilled efficiently and effectively.
To schedule an appointment with one of our estate planning attorneys please call 732-264-1956 or submit the form below and someone from our office will contact you to schedule a consultation.
Don’t put off estate planning any longer. Call our office now and schedule a consultation learn more about how we can help you protect and preserve your assets for the ones you love. Call Now (732) 264-1956.
Note: Completion and submission of the above contact form does not establish the formation of a lawyer/client relationship. We respect your privacy and the information provided will be kept private and Hoffman & Hoffman does not share any provided contact information.
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