Have you made plans for your estate after you die? Do you think estate planning is only something the rich or retired do? Each of these questions is something that everyone should address at any age. In fact, estate planning isn’t a one-time thing; it’s often done and then re-evaluated several times throughout your lifetime. While it’s considered a must for wealthy clients, it’s also extremely crucial for anyone in any income bracket. To understand why it is important to do this, we have created an estate planning 101 guide.
The best answer to this question is everyone. Every person needs to have their estate planned to avoid confusion when they’re gone. No matter how old you are or how little property you have, the fact of the matter is you have an estate. Everything from your car, house, furniture, and the money in your bank accounts is considered part of your estate. When someone passes away without a plan for their estate, the court takes care of the disposal of your belongings and investments. The way your assets are divided among your loved ones will vary from state to state and may or may not be what you would have wanted if you had planned ahead of time. With an estate plan, you can decide who gets what and when after you die.
Now that you understand how important it is to have an estate plan, you are probably wondering exactly what goes into estate planning. Estate planning starts with a will, living trust, or revocable living trust. These legal documents are important in planning your future but don’t protect your assets, so the next step is to arrange for the disposal of your estate after your death.
Estate planning is important because it allows the client to create instructions and control how the estate is distributed after they are gone. Usually, this type of document is drawn up to avoid uncertainties over the administration of probate. Establishing an estate plan prior to death, disability or retirement can also increase the value of the estate by decreasing taxes and expenses.
After you have completed legal documents with an estate planning attorney, you should have covered the following topics.
Make an Appointment with Zapicchi & Liller
When you’re ready to start planning for the future after your death, you should make an appointment with Zapicchi & Liller. Not only will working with estate planning attorneys help you execute your wishes after you are gone, but it can also help to reduce taxes, court costs, and unnecessary legal fees that are often associated with probate cases. Get peace of mind when you start protecting your loved ones by planning for your future and the future of your family today.
Have you made plans for your estate after you die? Do you think estate planning is only something the rich or retired do? Each of these questions is something that everyone should address at any age. In fact, estate planning isn’t a one-time thing; it’s often done and then re-evaluated several times throughout your lifetime. While it’s considered a must for wealthy clients, it’s also extremely crucial for anyone in any income bracket. To understand why it is important to do this, we have created an estate planning 101 guide.
The best answer to this question is everyone. Every person needs to have their estate planned to avoid confusion when they’re gone. No matter how old you are or how little property you have, the fact of the matter is you have an estate. Everything from your car, house, furniture, and the money in your bank accounts is considered part of your estate. When someone passes away without a plan for their estate, the court takes care of the disposal of your belongings and investments. The way your assets are divided among your loved ones will vary from state to state and may or may not be what you would have wanted if you had planned ahead of time. With an estate plan, you can decide who gets what and when after you die.
Now that you understand how important it is to have an estate plan, you are probably wondering exactly what goes into estate planning. Estate planning starts with a will, living trust, or revocable living trust. These legal documents are important in planning your future but don’t protect your assets, so the next step is to arrange for the disposal of your estate after your death.
Estate planning is important because it allows the client to create instructions and control how the estate is distributed after they are gone. Usually, this type of document is drawn up to avoid uncertainties over the administration of probate. Establishing an estate plan prior to death, disability or retirement can also increase the value of the estate by decreasing taxes and expenses.
After you have completed legal documents with an estate planning attorney, you should have covered the following topics.
Make an Appointment with Zapicchi & Liller
When you’re ready to start planning for the future after your death, you should make an appointment with Zapicchi & Liller. Not only will working with estate planning attorneys help you execute your wishes after you are gone, but it can also help to reduce taxes, court costs, and unnecessary legal fees that are often associated with probate cases. Get peace of mind when you start protecting your loved ones by planning for your future and the future of your family today.
At Zapicchi & Liller, we understand how intense this process can get, and with our rich background in estate planning, we help make the process less daunting. Our legal experts help you maneuver through the process to ensure every single bit of the process is legally covered.
Estate planning at our NJ firm will involve:
From our experience in this area of law, we advise our clients on the importance of other legally binding documents in estate planning such as a ‘do not resuscitate,’ legacy letter, tax documentation, and agreements on your digital legacy. All these depend on specific situations, and our legal experts will work with you to ensure every aspect of your estate is catered for.
While the legal jargon can be limiting to most household owners wishing to plan their estates, we try to demystify it. The New Jersey intestacy statute is quite forthright. These laws indicate to whom your property will go to in case you don’t have a will.
These beneficiaries can be descendants, parents, maternal grandparents, stepchildren or a surviving spouse. However, each family situation is analyzed differently depending on the situation. This is where our expertise comes in handy to help you plan for any contingencies.
The basics of estate planning revolve around using an experienced attorney to help formulate a will, which is the cornerstone of the process, use trusts as complements to wills, understand the estate tax system, understand the issue of the executor, and choosing the right one, and ensuring the right beneficiaries benefit.
As the cornerstone of estate planning, a will has to be comprehensive and legally formulated. We ensure the will is according to state laws: be of sound mind when preparing it and have witnesses as stipulated under the law. These legal documents can be handwritten, holographic, or nuncupative.
At Zapicchi & Liller, we also help you formulate a fiduciary arrangement where you allow a third party to hold your assets on behalf of beneficiaries. It removes the need for probate or other legal suits when you die thus protecting your family’s privacy. We advise our clients to use this arrangement to save on taxes, protect their families and protect a solid financial legacy.
Call us at (609) 291-9500 for our experience and knowledge in creating wills.
At Zapicchi & Liller, we understand how intense this process can get, and with our rich background in estate planning, we help make the process less daunting. Our legal experts help you maneuver through the process to ensure every single bit of the process is legally covered.
Estate planning at our NJ firm will involve:
From our experience in this area of law, we advise our clients on the importance of other legally binding documents in estate planning such as a ‘do not resuscitate,’ legacy letter, tax documentation, and agreements on your digital legacy. All these depend on specific situations, and our legal experts will work with you to ensure every aspect of your estate is catered for.
While the legal jargon can be limiting to most household owners wishing to plan their estates, we try to demystify it. The New Jersey intestacy statute is quite forthright. These laws indicate to whom your property will go to in case you don’t have a will.
These beneficiaries can be descendants, parents, maternal grandparents, stepchildren or a surviving spouse. However, each family situation is analyzed differently depending on the situation. This is where our expertise comes in handy to help you plan for any contingencies.
The basics of estate planning revolve around using an experienced attorney to help formulate a will, which is the cornerstone of the process, use trusts as complements to wills, understand the estate tax system, understand the issue of the executor, and choosing the right one, and ensuring the right beneficiaries benefit.
As the cornerstone of estate planning, a will has to be comprehensive and legally formulated. We ensure the will is according to state laws: be of sound mind when preparing it and have witnesses as stipulated under the law. These legal documents can be handwritten, holographic, or nuncupative.
At Zapicchi & Liller, we also help you formulate a fiduciary arrangement where you allow a third party to hold your assets on behalf of beneficiaries. It removes the need for probate or other legal suits when you die thus protecting your family’s privacy. We advise our clients to use this arrangement to save on taxes, protect their families and protect a solid financial legacy.
Call us at (609) 318-3990 for our experience and knowledge in creating wills.
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