Estate Planning Lawyers Helping Hunterdon County Families Make the Right Plan
It is natural to assume that after an individual passes away, their assets are automatically inherited by their close family members. Sadly, this is not always true. Many individuals also mistakenly think that estate planning is only done by the very wealthy or the very old. However, most people fail to realize that their estate consists of their assets such as their property, home, car, and bank accounts. Estate planning attorneys can assist you in planning for your loved ones through the use of planning tools that can give you the peace of mind that your final wishes will be carried out in the legal manner in which you stipulate.
Our attorneys at Edens Law Group, LLC realize that estate planning and the subsequent decisions that go along with it can be a difficult subject to think consider. There are several options that we can explain and then make a determination as to what works best for you. If you would like to see what type of estate planning options are available, contact Edens Law Group, LLC at 908-529-0353 and schedule a one-hour consultation with us to discuss how to best move forward and plan for your loved ones.
What Type of Services Does an Estate Planning Attorney Provide?
Estate planning can help your family avoid both a lengthy and costly legal dispute after you are gone. Planning of this type is a very important precautionary measure that all individuals should take full advantage of in their lives. Estate planning is especially vital if you have minor age children as it enables you to make a decision as to who your children will live within the event of your death.
Estate planning tools and resources can provide many legal options that can give you peace of mind in regard to the future. These options and resources are crucial to establishing as they make provisions ahead of time as to your personal wishes regarding such things as healthcare, division of assets, and other options as to who can make financial decisions for you in the event that you become incapacitated. Some aspects that should be included in your estate plan include an individual(s) who will receive personal effects such as photos, artwork, and other sentimental items. Another important consideration in estate planning is whether any of your beneficiaries are under 18 years old. If so, the assets that you plan to leave to them must be held by the minor’s guardian or a Trustee until they reach the age of majority. Finally, do the combined assets of your estate exceed that of two million dollars? In cases such as these, both New Jersey and Federal taxes can be imposed upon your death. With the aid of an estate planning attorney, there is a possibility that these taxes could be significantly lowered or even eliminated with proper planning.
What Happens if I Die Without a Will in New Jersey?
According to the law of the State of New Jersey, after an individual passes away, the legal process of probate begins. It does not legally matter if the individual who passed away did or did not have a will. If a decedent dies without a will, then the probate laws of the State of New Jersey determine to whom the assets will be distributed. Probate is required when the decedent dies, leaving property that is only in his or her name.
How Can I Simplify Probate?
One simple method for simplifying the probate process would be to include your spouse, partner, or anyone else as a co-owner or beneficiary on various accounts such as a land title, a homeowner deed, title of a vehicle, stocks, and bonds, and life insurance policies. Something as simple as this can greatly aid your family during the probate process.
Without a will, custody of your children could be decided by the courts of the state of New Jersey. One of the most important aspects of estate planning is determining beforehand who would gain legal custody of your children in the event of your death. This could result in a long-drawn-out expensive legal battle between family members as they try to gain custody of your children. However, it should also be mentioned that probate is not always required after an individual passes away, as it depends on what type of assets the decedent owns.
Why Should I Hire an Estate Planning Lawyer in Hunterdon County, New Jersey?
Of course, it is not mandatory that you utilize estate planning tools. Nonetheless, simple pre-planning on your part can go a long way in helping to remove the stress and anxiety that accompany the death of a loved one. Your family will most likely be dealing with a wide variety of issues that come from your passing away.
No one wants to contemplate their own death or think about life after they are gone. Nevertheless, one very easy method to ensure that your desires are carried out is through the process of estate planning. At Edens Law Group, LLC, we have years of legal experience in handling all the varying aspects of this field of law. Let us help you gain peace of mind when it comes to assuring that your final wishes a carried out in the legal manner that you have designated.
Our NJ law office serves the whole Hunterdon County community, and is conveniently located 49 minutes away from Unionville Vineyards and 38 minutes away from Northlandz.. Contact Eden Law Group, LLC at 908-529-0353 and schedule a one-hour consultation to discuss your best options for estate planning.