Not everything in life is in your control. Estate planning allows you to prepare for these contingencies. While there are various documents and estate planning tools that you can consider, a Will is probably one of the most important things you will ever sign. No matter the situation, you must consult a South Jersey estate planning attorney before planning your Will. In this post, we are sharing some key aspects worth knowing about wills.
What can you include in your last Will and testament?
It depends on what you have, but you can make provisions for many concerns. Your last Will and testament can leave funds for your pet, and you can even name a caretaker. You can donate your wealth to a charity if you want, and if you have more than one heir, you can use this estate planning tool to divide the assets equally. If you want to disinherit your heirs, you can do that. You can also name a guardian for your minor kids and an executor for your Will. The executor will ensure that your last wishes mentioned in the Will are honored.
How to make a will in New Jersey?
All adults (individuals over 18) can have a will if they are of sound mind. Your Will needs to be on paper and must be signed in front of two witnesses. Also, the people who are the witnesses must sign the copy of the Will within a reasonable time after you are done signing. In New Jersey, you don’t need to notarize a will. In other words, your Will is a valid document if it was signed before two witnesses. You can, however, go to a notary and get your Will notarized, which is called a “self-proving” will. This can help speed up the probate process. The probate process is mandatory.
Do you need an estate planning lawyer?
The short answer is yes. You definitely need to consult an estate planning lawyer, even though it is not mandatory by law. The whole process of estate planning is not about a few steps. An attorney can consider your estate, wealth, and circumstances and offer unbiased advice on the matter. For instance, some people may benefit from having a trust instead of a will, as a trust doesn’t need to go through the probate process.
Talk to an estate planning attorney to know what you can and cannot do through a will, and they can advise you on other key documents.