Why It Is Important to Have a Will?
Nobody wants to think about our later years and passing away. While we all must move on eventually, we would rather focus on enjoying our lives as they are now. We would prefer to be on vacation, playing with our kids, and enjoying a career, among other life accomplishments. However, end of life planning is essential to protect both a senior citizen and his or her loved ones.
Additionally, it is never too early to start planning for after your passing.
Why You Should Consider Executing a Will
When someone passes away in New Jersey, a court will look to see if the deceased individual had a last will. If so, the deceased individual’s estate will be administered by what is stated in the will, so long as the will is valid under New Jersey law. However, if there is no last will, a court will apply the laws of New Jersey to determine what family members are entitled to what property and assets that belonged to the deceased individual.
Many families are close-knit and would not take advantage of one another. Nevertheless, some families do get torn apart for one reason or another, and a person may not want part of his or her assets to be carried down to a particular child, for example. If a person wanted to protect certain assets to ensure that a certain child could not obtain those assets, preparing and executing a will is essential.
If on the other hand, the person did not have a last will, the laws in New Jersey may determine what assets and property of which the child may be entitled. As such, it is crucial that an individual planning for his or her later years puts in writing his or her wishes to be fulfilled upon passing. A qualified New Jersey Elder Law Attorney can make the process of writing a will less stressful and can help to ensure the last will is valid under New Jersey law.