Estate planning attorneys are responsible for a wide range of legal issues related to estates and estate planning. You may think that estate planning is something you only think about later in life, but we know that life is very unpredictable and you never know what might happen, so being prepared by having a valid estate plan is an essential way to protect yourself and your family. You can’t plan for the unexpected, so we recommend getting your affairs in order. Here’s how an estate planning attorney can help:
Last Will and Testament: This document outlines how you wish your possessions and properties, including your money, to be distributed after your death. Some people are under the false assumption that this is only relevant for very wealthy individuals, but everyone should have a Last Will and Testament drawn up that explains very clearly how to distribute their assets. This will help eliminate any fighting and tension among surviving family members.
Power of Attorney: This document authorizes another person – an individual of your choice – to act on your behalf if you become mentally unable to. Power of Attorney can be applied to financial matters, medical decisions, business decisions, and more.
Choosing an executor: An executor is the person who oversees the distribution of your estate and ensures it’s carried out properly. Everyone must nominate an executor for their will. Your attorney can help you decide who the best person is for the job.
It’s never too early to create your estate plan
Unfortunately, when people pass away without a valid estate plan, the distribution of their assets is sometimes passed onto a state court. When this happens there’s no way to ensure that the deceased person’s wishes are carried out and it can result in family arguments during what is already a stressful and emotional time. Don’t wait until it’s too late to make your wishes clear. Speak with a NJ estate planning attorney today and get to work on your estate plan.