Estate Planning Lawyers Helping You With Your Estate Plan | Somerset County
It’s normal to believe that when someone dies, their assets are immediately inherited by their close relatives. Unfortunately, this is not always the case. Many people also have the misconception that estate planning is just for the rich or the elderly. Most individuals, however, are unaware their assets, which include their property, home, automobile, and bank accounts, are subject to probate following their death. Estate planning lawyers may help you plan for your loved ones by utilizing planning techniques that provide you with the peace of mind that your ultimate desires will be carried out in the lawful manner that you specify.
Our lawyers at Edens Law Group, LLC understand that estate planning and the decisions that follow can be a difficult topic to contemplate. However, estate planning is your best legitimate option if you want to guarantee that your last requests are followed and that your loved ones are cared for as you planned. If you want to learn more about your estate planning choices, you’ll need the help of a competent estate planning lawyer. Call (908) 879-9499 to book a one-hour consultation with Edens Law Group, LLC to explore how to effectively start planning for your future.
Estate planning is a critical precaution that everybody should capitalize on at some point in their life. This form of planning can assist your family to avoid a prolonged and expensive court battle after you pass away. If you have small children, estate planning is extremely important because it allows you to choose who your kids live with in case of your passing. Some key services we can help with include developing a will, trusts, powers of attorney, and more.
Is it Necessary to Make a Will in New Jersey?
The legal process of probate in New Jersey begins once a person passes away, according to state law. It makes no difference legally whether the person who died had a will or not. If a person dies without leaving a will, the state of New Jersey’s probate rules dictates how the assets are dispersed. When a decedent dies and leaves property that is solely in his or her name, probate is necessary. Bank accounts, as well as stocks and bonds with no co-owner and no specified beneficiary, are examples of assets that might be subjected to probate. This is in addition to personal property such as automobiles, jewels, and household furnishings that are exclusively registered in the name of the decedent.
What Happens if a Decedent Has a Will?
If the decedent did have a will, then their assets will be allocated according to the terms of the will. Items that are not included in probate are life insurance or retirement accounts with a designated beneficiary. Bank accounts with a payable on death (POD) or transfer of death (TOD) clause are also not included in probate. Also, free excluded from the probate process is real estate that is owned by joint tenants with a right of survivorship in which two owners hold a title to a property which gives them both equal rights to the property. When one of the owners passes away, the property automatically goes to the surviving owner.
Choosing who will have legal custody of your children in the case of your death is one of the most crucial components of estate planning. Without a will, the state of New Jersey’s courts may decide on your children’s custody. This might lead to a significant and expensive court conflict amongst family members over custody of your children. It should be noted, however, that probate is not always necessary once someone passes away, since it depends on the sorts of assets the decedent had and whether they had a trust or not.
Why Should I Hire an Estate Planning Lawyer in Somerset County, New Jersey?
When asked, the majority of people say they want their assets to go to people they name as beneficiaries when they pass away. Nobody likes to ponder about their own mortality or what life will be like when they are gone. However, using estate planning and implementation is a simple way to ensure that your last will is effectively carried out. We have years of legal skill managing all facets of this field of law at Edens Law Group, LLC. Allow us to assist you in gaining peace of mind by ensuring that your future and your family’s future are bright.
Our NJ law office serves the whole Somerset County community, and is conveniently located just 34 minutes away from Colonial Park and 41 minutes away from Snyder’s Farm. Contact Eden Law Group, LLC at (908) 879-9499 and schedule a one-hour consultation to discuss estate planning.