If your future wishes are not documented in a last will and testament, or other estate planning document, the laws of New Jersey will apply to how your property and assets are distributed upon your passing. This process can be perfectly fine for some people, but could be disastrous for others. The reason why is because if you specifically do not want a particular family member to receive certain property or assets upon your passing, but you do not have a valid document that expresses these wishes, this family member may end up receiving the property or assets after a court applies New Jersey probate law.
How Can I Protect My Property?
There are various ways to protect your property and other assets should you become incapacitated or upon your passing. However, how you choose to protect your property and assets will be dependent upon a variety of factors, including, but not limited to, how you want your property or assets transferred upon your incapacitation or passing, who you want the property or assets transferred to, what your current economic situation is, and whether or not government benefits may play a role. Therefore, discussing the protection of your property and assets with an attorney is a step in the right direction to ensure you have a thorough understanding of your options.
Contact Giro Elder Law Today to Speak with Our New Jersey Elder Law Attorneys
There is nothing to lose by seeking the guidance of a truly experienced legal professional about your future and your options for protecting property and other assets upon your incapacitation or passing. Many people choose to complete estate planning documents without the help of an attorney, and while some have successfully completed the process, others have not. As such, speaking with an attorney is the best way to ensure you are taking the correct steps during the estate planning process. Contact Giro Elder Law today by calling (201) 690-1642 to discuss your or a loved one’s situation.