NJ Lawyers | Monmouth County Estate Planning Law | Monmouth Beach
Monmouth Beach | 07750A Last Will and Testament, commonly referred to as a 'will', is an official legal document which is drafted to provide your final instructions and wishes relating to how your property and assets are to be distributed in the event of your passing. There are certain formalities required by NJ state for a will to be valid. In addition, the specific language used can greatly impact the manner in which the estate will be administered. For these reasons, it's strongly advisable not to use a do-it-yourself will which may be found on the internet. Robert Beyer, a seasoned wills attorney serving clients in Monmouth Beach and throughout Monmouth County. Depending upon the size of your estate and the types of assets owned at your death, a last will and testament should address the disposition of or issues such as: your wishes concerning guardianship of your minor children or mentally / physically incapacitated dependents after your death; the distribution of assets such as your home, your land, and other property; your investment & retirement portfolios; proceeds of certain life insurance policies; your motor vehicles, recreational vehicles and other possessions; furniture, boats, and other property of value; jewelry, artwork, and so on. A witnessed will must meet all of the requirements as listed: must be in writing; must be signed by the testator or signed under the direction of the testator; signed in the presence of two witnesses who are both present at the same time and signed by the two witnesses with the understanding that they are signing a will as a witness. A holographic will is very easy to contest since there are only two requirements: that the will be in the own handwriting of the testator and that the will show testamentary intent. The major benefit of a revocable living trust is to avoid probate. Probate can be very expensive (fees are statutory) and can reduce the amount of the estate actually passing to the intended beneficiaries. With a trust there is usually no supervision of the trust by the probate court and therefore no court costs involved. In addition a trust is not filed or recorded so a trust is more private than a will. The other extremely important advantage to a living trust is that it works in the event of incapacity so that conservatorships can be avoided. Setting up a living trust is a decision that can have important consequences in the future. There are various ways to draft a trust so that estate taxes can be reduced or eliminated. There are various ways to implement distribution plans among your children. Trustees have a very important fiduciary role as they have considerable authority and responsibility. Most people serve as trustees of their own living trust during their lifetime and name successor trustees to administer the trust upon their death. It is very important to have successor trustees named in your trust document who you can trust to handle your affairs upon an incapacity or fulfill your wishes after your death. The wills and trust attorneys at Law Offices of Robert Beyer will usually suggest a relative who you trust. In addition, our firm normally recommends that you do not appoint co-trustees as this can lead to problems after your death. If you do not have a relative or family friend or business associate, a private fiduciary or corporate fiduciary can be used. Contact Robert Beyer to discuss your goals and options. A living trust is an important legal document that should be prepared by a qualified estate planning lawyer. The trust and wills lawyers at Law Offices of Robert Beyer are ready to help you in all estate planning matters. Challenges to estate planning documents often arise when you have children or spouses who are not treated as equal beneficiaries of an estate, or who are disinherited altogether. A child who receives a lesser share of the estate may attempt to challenge the validity of the estate plan, or a spouse may challenge the characterization of assets included in an estate plan. It has become increasingly common for attorneys to videotape the signing of estate planning documents, particularly when the testator's capacity is in question, or when the attorney anticipates a challenge from disinherited family members. A videotape in which the testator clearly and unequivocally expresses his or her desires in an articulate manner can be compelling evidence of the testator's capacity and intent. You may also have heard the term 'pour over' will. These are wills which do not stand alone but are used together with a trust to allow assets which are inadvertently left out of the trust at time of death. This type of will allows only the asset left out to go through the probate procedure and then be 'poured over' into the trust. Contact an experienced trust and wills attorney such as Robert Beyer at Law Offices of Robert Beyer. We serve clients throughout Monmouth Beach NJ. Wills & Trusts Lawyers serving Red Bank, Fair Haven, Little Silver, Shrewsbury, Eatontown, Lincroft, Holmdel, Hazlet, Middletown, New Monmouth, Leonardo, Atlantic Highlands, Highlands, Rumson, Sea Bright, Monmouth Beach, Oceanport, Long Branch, West Long Branch, Colts Neck, Morganville, Strathmore, Navesink, and throughout Monmouth County.
Monmouth Beach | 07750
Estate Planning and Trust Attorneys in Monmouth Beach, NJ
07750 Estate Planning Law Firm
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Law Offices of Robert Beyer 104 Shrewsbury Ave, Red Bank, NJ 07701 (732) 701-7990 http://www.RedBankAttorneys.org/
Wills and Trust Lawyers in New Jersey
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