Estate Planning Attorney in Red Bank, New Jersey
Preparing for your future is important. Your estate is the culmination of everything you’ve worked to accomplish. Though this topic is a difficult one, estate planning benefits you and your family. Without important testamentary documents, your estate could be distributed against your will and your end-of-life care wishes could be ignored. Important documents, including a will, trust, healthcare directive and power of attorney can ease the stress of your family after you pass. If you are ready to discuss the planning of your estate, it may be time to consult with an effective and experienced wills, trusts, & estate attorney. The Law Offices of George J. Mardinly has over 20 years of experience providing a warm and comforting environment to discuss these difficult matters. When you are ready, we are here. Contact our firm to discuss your legal matter.
Do I need a will?
One of the most important documents you can execute properly is a will. A will provides details instructions for your family regarding your estate. Generally speaking, a will declares who inherits property and identifies an executor to fully carry out your wishes, among other things. It must be in writing and signed in the presence of witnesses. A will protects your estate from arbitrary decisions made by courts and the possibility of family infighting and litigation over the lack of details. When a person property executes a will, everyone benefits.
Do I need a trust?
A trust is a powerful tool for an estate planning client. It has many benefits. A trust can pass assets out of probate, save time and money, and reduce the tax consequences of the inheritance. There are two main categories of trusts: revocable and irrevocable trusts. Irrevocable trusts are set up and cannot be changed, providing even deeper tax benefits for the inheritor. Revocable trusts can be changed, but lack the degree of tax benefits. There are numerous types of trusts within those two categories, applicable for many situations. It is important to discuss whether a trust is a good option and what trust will best suit your estate.
Do I need a healthcare directive?
If you have wishes for how you are cared for in your final days, a healthcare directive, also known as a living will, may be a good option for you. It may be important for you to write out your medical wishes, including if you want the use of life-sustaining medical methods. When you cannot make decisions for yourself, saving your family the stress of trying to make medical decisions for you.
Power of Attorney
A power of attorney, also known as your attorney-in-fact and your agent, is an important estate planning topic. In order for your wishes regarding finances and healthcare to be properly executed, a power of attorney is important. Simply, this person will act in your place when you cannot. A power of attorney can handle all financial and medical matters according to your direction. The scope of their ability is up to you. Picking a person you trust to carry out your wishes is best and consulting with an attorney to make informed decisions is important.
Contact an experienced NJ estate planning attorney
It is important to plan your estate. Though it may be difficult to consider, estate planning is can help you and your family avoid the stress of an uncertain future after you pass. Developing a comprehensive estate plan with an experienced and compassionate attorney is in everyone’s best interests. To discuss your legal matter, contact The Law Offices of George J. Mardinly for a consultation today.