A will is a legal document that outlines the way you wish to distribute your assets and handle your affairs after your death. It is a crucial part of your estate plan, and it plays a significant role in reducing the risk of estate litigation after your death. A New Jersey attorney for wills can help ensure your will meets state requirements and reduce the risk of a dispute.
In order to make a will, you must be a competent adult of at least age 18. You must sign the will in front of two witnesses and it must also be notarized. This is a simple enough standard to meet, but there are many reasons why a will could end up being contested after your death. A will can be disputed for a variety of reasons, including if it contains illegal provisions or was not written in your handwriting, signed before witnesses, or notarized.
Another reason for a will dispute is that the testator was not of sound mind when it was created. The person who challenges the will must prove this by providing medical records or testimony from a doctor that shows that the testator was not in sound mental condition at the time of signing. This is a challenging task and is why having a New Jersey wills lawyer prepare your estate planning documents can reduce the chances of a challenge.
If your will is disputed, a New Jersey attorney for wills can provide valuable guidance and support throughout the probate process. For trustees and executors, an attorney for wills can play a critical role in helping them adhere to the terms of the will, managing conflicts among beneficiaries, and navigating any legal or tax complexities that may arise.
A New Jersey attorney for wills can also help you establish trusts that may minimize taxes and provide a more secure and private environment for your family members to receive your estate. This can be particularly important if you have a blended family, children from prior relationships, or other complicated situations.
When you pass away, your property will be distributed according to state law. If you don’t have a will, this is known as dying “intestate.” In New Jersey, the intestacy laws give your property to your spouse and children first. If there are no living spouses or children, the property will go to grandchildren or parents. After this, the law looks at other relatives, such as siblings, aunts and uncles, nieces or nephews, cousins to any degree, and grandparents.
In addition, a New Jersey attorney for wills can help you register your will in the state’s will registry to protect it from loss or theft and make it easier for loved ones to locate after your death. It is also wise to review your will every few years and update it as needed. Some common reasons for updating a will include marriage or divorce, the birth of a child or grandchild, changes in tax laws that might impact your intended heirs, and major life events.
A will is a legal document that authorizes the transfer of property upon your death. It is typically created by adults assisted by an attorney for wills, who have legal capacity to do so and appoints someone called an executor to carry out the terms of the will. Property held in a Will is called the estate. Upon the testator’s death, the executor transfers the property to the beneficiaries named in the Will. The process is generally overseen by the probate court.
While DIY wills can seem like a cost-effective option for simple situations, they can lead to complications and unintended outcomes. Seeking professional assistance, particularly for more complex estates, is advisable to reduce the risk of challenges and ensure that the will meets all New Jersey legal requirements.
An attorney for wills can assist with many aspects of estate planning, including creating a will, naming trustees, and executing trusts. The attorney for wills will also be able to review the final documents for accuracy and compliance. The attorney for wills can provide guidance in the development of an estate plan that accurately reflects your wishes and protects your assets.
A New Jersey attorney for wills can also help you understand your rights and options in a dispute involving an estate-related matter. For example, if you believe that the estate’s personal representative or another party has violated their duties, the attorney for wills can file a petition to remove them as executor. Such a petition must be filed in a timely manner and supported by strong evidence. A failure to do so can result in a "No Contest" clause, which can prevent the challenger from receiving an inheritance.
Family members often challenge wills because they are dissatisfied with their inheritances or the distribution of the estate. However, simply being unhappy with the inheritance is not a valid reason to challenge the will. Instead, a challenger must demonstrate that the person who made the will (called the testator) did not have the required testamentary capacity or that the will was improperly executed.
In addition, a notary public plays an important role in the execution of a will. The notary will verify the identities of all signatories and witnesses, observe the signing process to confirm that it complies with New Jersey law, and then affix their official seal to the document. They will also record the details of the signing in their notary journal.
No one wants to think about their own demise, but putting a little time into planning for it can ensure your loved ones don’t suffer after you pass. Having a legal last will and testament is essential for anyone who owns any assets. A will allows you to specify who should manage your estate and how your property should be distributed. It also lets you save the cost of an indemnity bond, appoint a guardian for minor children, and make specific gifts to friends and family. A will can also reduce the potential for estate litigation. An experienced New Jersey attorney for wills can guide you through the process and help to ensure it is enforceable. A well-drafted will can also reduce your taxes, avoid conflicts between heirs, and ensure your spouse’s rights are protected.
An experienced estate planner can review all of your assets and discuss with you the best way to distribute them. Many people choose to create a trust, which can provide additional protections for the beneficiaries and minimize the impact of taxes. A trust can also avoid a court-supervised conservatorship in the event you become incapacitated, which can be expensive and time-consuming.
Some types of assets are not subject to a will or probate, such as life insurance proceeds, joint accounts with the right of survivorship, and real estate held in a joint tenancy (where each owner owns an equal share). An attorney for wills can help you determine which assets should be accounted for in your will and whether it is necessary to set up a trust.
An attorney for wills can prepare a will that includes language to give your trustees power to use your assets for health care and support in the event you become medically incapacitated. The trust can be created while you are alive (an inter vivos trust) or upon your death (a testamentary trust). A brief “pour over” will usually accompanies a trust to declare that any assets not transferred into the trust at your death will be transferred into it after your death.
Choosing the right people to act as your executors and trustees is an essential decision that should be approached with care and strategic thinking. You want individuals whom you trust to understand your goals and abide by your wishes. It is not enough to select them simply because they are family members or close friends, as this could lead to potential conflicts. Moreover, including someone with business acumen and a solid understanding of financial matters can be immensely beneficial. Consulting with an attorney for wills can provide additional insights into the qualifications that are important for these roles.
In New Jersey, for a will to be considered valid, it must be either handwritten or typed by a competent adult and witnessed by two people. Additionally, involving an attorney for wills can help ensure that your will is made "self-proving" by having it notarized. This important step means that the witnesses do not need to testify in probate court to prove the authenticity of the will, simplifying the legal process.
A common reason for challenging a will is a belief that the decedent did not have the mental capacity to create or modify their will. This situation often arises in cases where an individual has dementia or another form of cognitive impairment. An attorney for wills can offer valuable guidance on how to properly document the mental capacity of the individual drafting the will to minimize the chances of such challenges. Engaging a professional early in the process can help safeguard the intentions and validity of your will.
The Matus Law Group
125 Half Mile Rd #201A, Red Bank, NJ 07701
(732) 785-4453