Do You Have A Will And Trust Prepared?
The center of any estate plan is the will and trust. Every estate plan needs a valid will, and many people in Bergen County would also benefit from putting some or all of their assets into a trust. If you have not drawn up a will or trust yet, the Romond Law Group is a full-service estate planning firm that can help protect your hard-earned wealth and ensure that your family will be financially comfortable after you are gone.
Your will can contain several things, but it always includes whom you choose to inherit your property after you pass away. This is very important because when someone dies without a valid will (which is called dying intestate), New Jersey intestacy laws step in. As a result, the deceased’s valuables could go to individuals whom the deceased never wanted to be heirs. Drafting a will gives you control over your legacy. It also gives you the chance to choose who will be the executor of your estate, so it can be someone you trust to handle this important job.
A trust is a common tool for passing along valuable assets, such as cash, investments and real estate. Once placed in a trust, assets are controlled by a trustee, though you still might be able to enjoy their use during your lifetime. The trustee’s job is to manage the assets in the best interests of the beneficiary, the person (or people) who will take over ownership after you pass away. Various trusts work in different ways. There is probably a trust out there that will fit your particular goals while also making probate faster for your executor and helping your estate avoid estate taxes.
Ready For A Customized Will And Trust?
If you are looking for experienced legal guidance with setting up or amending a will or trust, contact us at the Romond Law Group and schedule a consultation. You can reach us at 201-971-3768. We serve communities throughout North Jersey, including Mahwah and Morris and Somerset counties.