Estate planning tools are a means of preparing for the inevitable. Just about everyone knows some version of the adage on what two things are certain in life. With death and taxes, are also concerns of ill health and incapacitation.
Notwithstanding, New Jersey is not unique as far as the number of people who fail to put together a formal document concerning their last wishes. It is not enough to verbally express how you want your assets distributed. Likewise, parents of minor children should have input as far as who takes over in the event of their demise.
As Ocean County estate planning lawyers, the Law Office of DiFrancia & Price P.C. provides you with experienced legal advice concerning a variety of issues. Do you have an advanced medical directive? Do you need a power of attorney for someone to act in your place? What about Medicaid planning?
New Jersey Estates and Trusts Lawyers
Who needs an estates and trusts attorney in New Jersey? The bottom line is that just about everybody needs estate planning tools that are tailored to their individual needs. Here is a short breakdown of documents used to protect how your estate is handled:
- Last Will and Testament: Your last will and testament will place an executor or executrix in charge of seeing your final wishes are carried out. Your will may contain directives concerning distribution of your property. Additionally, you may also seek to name guardians for your minor or disabled children.
- Trusts: There are different types of trusts that may be set up during your lifetime and ultimately pass on to your stated beneficiaries.