Estate planning is important in the state of New Jersey because it is the only way you can decide what happens to your assets after your death. It plays a key role in providing for your family’s financial stability and it has many advantages. No matter if you have a high asset estate or if you are a middle-class family with children, there are important reasons why you should plan for what happens to your assets after you pass away.
Advantages of a Comprehensive Estate Plan in New Jersey
There are several reasons why having a comprehensive estate plan created by a trusted attorney in place is important. Our estate planning attorneys will meet with you to get a better idea of your needs and preferences and then can create a plan that:
Allows You to Control What Happens to Your Assets
Having an estate plan or will is the only way to ensure your voice is heard after you pass away. You have opinions about who you want to receive your assets and how you want them divided.
If you do not put this in writing with the help of an attorney and update it regularly, what happens to your assets could be up to a judge you have never met who does not have the same insight to your family’s financial situation that you do.
Helps Your Family Avoid Probate
While the New Jersey probate process is relatively quick and inexpensive compared to other states, it may still a headache for the executor of your will or administrator of your estate. As a part of the estate planning process, we may be able to create a plan that allows your loved ones to avoid the probate process and have immediate access to their inheritance after you pass away.
Reduces the Risk of Disputes
The common factor in most estate litigation is that there is no valid will or other estate plan. The best thing you can do to reduce the risk of a dispute over your assets after you pass away is to create an estate plan with the help of a trusted estate planning attorney who is familiar with New Jersey probate laws.
Secure Your Children’s Future Care
While it is difficult to consider, having an estate plan that addresses what happens to your children if both of their parents pass away is vital to ensuring you provide them with a loving home no matter what happens.
Our team can walk you through the difficult process of choosing guardians and fiduciaries and putting a plan in place that addresses your children’s educational, medical, social, and moral needs if you pass away before they reach adulthood.
An Estate Plan Addresses Your Special Circumstances
In many cases, families we work with have very specific concerns or special circumstances. We can help them get a peace of mind they did not know was possible through the estate planning process. This may include:
Planning for the Care of Family Members with Special Needs
We can help you create a plan to ensure your loved one with special needs continues to get the level of care and support they need after you pass away. We can create a plan that allows them to continue drawing Medicaid, disability, Supplemental Security Income, or other benefits while also having access to their inheritance to pay for housing, medical care, or other necessities.
Planning for Long-Term Care Expenses
We can help you with an asset protection plan that allows you to qualify for Medicaid sooner while keeping your children and grandchildren’s inheritance intact. Most families cannot afford nursing home care, assisted living facilities, or other long-term care facilities without the help of Medicaid or other programs. However, these programs require you to have a low income and few assets.
Our asset protection plans make it possible to keep some or all of your assets while still qualifying for one of these public programs.
Let Bratton Estate and Elder Care Attorneys Go to Work for You
If you need help creating a comprehensive estate plan in New Jersey, the team from Bratton Estate and Elder Care Attorneys is here for you. Our clients always meet with one of our attorneys first, before we begin any work on their case. This gives us the opportunity to learn more about their unique needs, priorities, and preferences.
Only once we understand how we can best help you and your family will our lawyers begin building an estate plan that works for you. We do not offer one-size-fits-all solutions. We will create a plan that includes wills, trusts, powers of attorney, and other legal documents to meet your specific needs.
Call Bratton Estate and Elder Care Attorneys at 856-857-6007 today to learn more about how we can help you.