Why Do I Need an Estate Planning Lawyer In New Jersey?
by: Begley Admin
At every stage of life, things are constantly changing. Relationships, jobs, financial status, health conditions, business ventures, and the list goes on. We work hard throughout our lives, doing the best we can to prepare for the future. However, the future always contains an element of uncertainty. A New Jersey estate planning lawyer helps families deal with many of the questions they have about the future. Estate planning is not limited to deciding what will happen to your belongings after you die, and actually covers a very broad range of services from business succession, to health care decision-making, to determine who will care for minor children in the event of an untimely death.
The Basics of Estate Planning
When you meet with an estate planning attorney, they will ask you various questions about your life, your goals, and how you want to see your future play out. The lawyer will then recommend estate planning tools that allow you to effectuate your desires.
Estate planning laws vary state by state. And it is imperative to meet with an attorney who understands the nuances of New Jersey estate planning laws. One example of this is intestate laws. If someone dies without a will, state intestate laws dictate how their assets will be distributed upon their death. These rigid, inflexible laws, are meant to serve as a default for those without other plans in place. Many families want to personalize who gets what in the event of a death, so they create a will.
It is a common misconception that estate planning is only for the wealthy. This is simply not true. While estate planning certainly provides crucial benefits to those with significant assets, it can also help those with modest estates plan for the future. For example, if you fit into any of the below categories, speaking with an estate planning lawyer is a good idea.
- You’ve been married more than one time;
- You have a family member with a disability or special needs;
- You do not have any children;
- You fear sudden incapacitation;
- You have children from another marriage, or from outside your current marriage;
- You own real estate in more than one state;
- You intend on leaving money to charity when you die;
- You own a business;
- You have a spendthrift child or children;
- You recently lost a loved one; or
- You have significant assets in a retirement account.
Estate planning is about providing certainty, protecting assets, minimizing tax exposure, and maintaining a level of control of what happens in the event you suddenly become disabled or incapacitated. Ultimately, an estate planning lawyer provides peace of mind.
If you have not yet created a New Jersey estate plan, or it’s been years since you last updated your estate plan, contact Begley Law Group for immediate assistance. Our dedicated team of estate planning attorneys will create a custom-tailored plan designed specifically for your family’s unique needs. Having served clients across New Jersey and Southeastern Pennsylvania for the past 80 years, our strength comes from our experience. To learn more, call 856-235-8501, or toll-free at 800-533-7227. You can also reach out to us through our online form.