Last Will and Testament

New Jersey Business Law Attorney

Last Will and Testament

Planning what’s going to happen with our estate in the event of death is not something most like to concentrate on as part of a daily living experience. However, some things are inevitable, and it makes perfect sense to leave behind a declaration of our wishes.  Many refer to a Last Will and Testament in simpler terms as a will.  However, truth be told, the word testament means that the document was executed with conviction.

One of the helpful things you can do for your heirs is to make sure your estate transfers quickly and smoothly to those who deserve it.   Candidly, you need to plan that is done according to your wishes and desires.   When you die without a will or other estate document, you are said to die intestate.  Consequently, your estate will be divided according to the law rather than your envisioned distribution.

At the Ocean County Law Offices of DiFrancia & Price P.C., we provide our clients with estate planning advice that includes will drafting and other estate planning tools.  Our goal is to make sure you are comfortable with your decisions and that you have named your intended beneficiaries.

Last Will and Testament: Why is It Important in New Jersey?

Let’s face it.  Procrastination knows no boundaries.  No doubt you can surmise the most common excuses for postponing or avoiding seeking legal counsel regarding a last will and testament. Perhaps it is something you feel that only the rich, sick, or old need to consider.

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The truth is that age, health or the amount of assets should have no bearing on when a will is drafted.  Thoughtful people, who are serious about making plans for the future, deal with these matters on time and the right way.   Certainly, life is unpredictable and tomorrow is promised to no one.  For that reason alone, it is crucial to ensure you provide directives concerning your final wishes.  Some of the components of your Last Will and Testament are:

  • Naming an executor or executrix to represent your estate 
  • Identifying proposed guardians for minor or incapacitated children
  • Naming beneficiaries and their entitlement to your estate
  • Directing the sale or passing on of valuable assets

A lawyer experienced in drafting wills can advise you of the tax consequences of your proposed estate plan.  Additionally, it is essential that your will is written in such a way that it is not easily subject to contest by others who feel entitled to your inheritance.

If you are unsure whether or not you really need a last will and testament for yourself or the benefit of your loved ones, you should still seek legal advice.

When You or a Loved One Fails to Leave a Will

Everyone has their own version of what happens when someone fails to leave a will.  This event suggests consultation with an experienced estates and trusts attorney.   It is only a non-issue when there is no real or personal property that would eventually require sale or division.

When a person dies intestate (without a will), there are detailed laws of succession.  For example, you may decide that a surviving spouse may be entitled to the entire estate.  However, the division is different if the deceased partner had children from another marriage.  

As experienced estate attorneys in New Jersey, the Law Offices of DiFrancia & Price P.C., can guide you through the process and explain the necessary procedure to becoming the Estate’s Administrator.  Although this is not the preferred way of dealing with estate planning, we are able to assist you.

Benefits of Hiring Experienced Last Will and Testament Attorneys 

Working with our last will and testament lawyers can help you honor your intended wishes.  Additionally, you can significantly reduce costs and other unnecessary burdens. The more attention you put into estate planning, the more likely is that you will ensure the efficient transition of your assets to the people you think deserve them the most. 

Our last will and testament lawyers will be there for you each step of the process. We will discuss all questions and address all requests you may have with the utmost care and attention to the details.  We are also available when it comes to submitting your will for probate.

We will help you choose the most suitable executor of your will, who will assume significant fiduciary obligations.  If you are not comfortable naming an individual, we may suggest that you select a financial institution or even our law firm to act on your behalf.

There are many ways that our estate planning lawyers can assist you.  Don’t put off until tomorrow what needs to be done today.  Get in touch with the Law Offices of DiFrancia & Price P.C. to determine what will work best for you and your loved ones.