Today, our estate planning attorneys will be discussing the importance of drafting a last will and testament, what happens in New Jersey if you die without a will, and review some relevant terminology.
Wills are used so the court system does not have to intervene and distribute owned assets on behalf of the decedent. There are several advantages of working with an Asbury Park estate planning lawyer to sign a will, including but not limited to:
It is also important to understand that a last will and testament is only enforceable after you are gone. Therefore it is possible to amend or revoke your will at any time before then. This often eases the minds of individuals who are reluctant to sign a will due to its finality and permanent nature (which simply is not the case).
Individuals who die in New Jersey without a last will and testament will enter into a probate process in which assets will be distributed pursuant to intestate succession laws. That is a mouthful, but essentially it refers to a hierarchy of succession scenarios that will determine who will receive your property after death. Your Monmouth County understands that intestate succession statutes can be quite complex, but may look something like this:
Rather than leave your family’s future and their financial situation to chance, a last will and testament allow individuals to take control of their property after they are gone. This also provides the fringe benefit of saving your loved ones from a long, tedious, and potentially contentious legal battle.
The wills and estate attorneys of Chamlin, Uliano & Walsh believe that all adults in New Jersey should have a legally enforceable will on the record. We take pride in protecting our clients’ financial futures in local Monmouth County communities including West Long Branch, Asbury Park, Red Bank, Middletown, Freehold, Howell, and all of Central New Jersey. Our legal team has extensive experience working closely with our clients and their families to develop individualized legal solutions that are both effective and tailor-made for their unique needs and concerns.
To learn more about last wills and testaments and other estate planning needs, please contact us online or call our West Long Branch, NJ offices today at (732) 440-3950 for a free and confidential consultation.
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