There are people in New Jersey who believe that they are too young to consider estate planning. Others assume that estate planning is only for the rich and elite. The truth is you are never too early to think about this. If you are earning adult, estate planning is important for you. Your best bet is to seek estate planning counsel. Yes, online services do exist, but nothing is more valuable than bespoke legal advice. Here’s why you should consult an attorney for estate planning.
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Create a legally binding and valid will
A will comes into effect after your death. In New Jersey, you don’t have to get a will notarized by compulsion, as long as you had two witnesses. You can also create a self-proving will, which is witnessed and notarized. Any mistake in the will could mean unwanted disputes among your loved ones. More importantly, if you want to make key decisions, such as disinheriting your living spouse, you should talk to a lawyer.
Know the estate planning documents
A will is not the only estate planning document you need. Your lawyer may advise you to create a revocable living trust if you have considerable assets. A Living Will is also an important estate planning tool to consider. Consult an attorney if you need help with estate planning paperwork or make major decisions. They can guide you on your rights, things you can do or cannot do through certain documents.
Choose a guardian for your children
Another big reason to lawyer up is to choose a guardian for your children. Yes, it is your call to decide the person, but an attorney can advise you on the basic aspects. They can help determine the key qualities you should be looking for when trying to choose someone to look after your kids.
Avoid issues over inheritance
Inheritance is often the reason for family disputes. If someone dies without a will or any estate planning documents, the court will follow the standard state laws to divide the deceased’s estate. You need to hire an attorney to create an estate plan that is acceptable to your beneficiaries and is in sync with your wishes. It also has a lot to do with protecting your beneficiaries.
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An attorney can help simplify the estate planning paperwork, and they will check everything before you sign. Don’t shy away from asking relevant questions when you discuss your goals and wishes. The whole estate planning process can be done to address your key concerns.
