Gruccio, Pepper, De Santo & Ruth P.A.
Call for a consultation 877-760-1031

Estate planning at a younger age could be less complicated

Conversations about wills and trusts tend to force people to accept their mortality, which is something many New Jersey residents might prefer to avoid. However, estate planning is necessary for all -- regardless of age, financial situations and family ties. It is a way to ensure the distribution of assets in a manner that will take care of surviving loved ones. While it is often believed that estate planning must be done closer to retirement age, the best time to get started with it is upon receiving that first salary check, or at least around the age of 30 years.

Basic estate planning is less complicated, and as assets grow over the years, estate plans can be updated. To start the planning, it may be best to draft a list of the individuals that will be included. These are typically family members, close friends and business partners, if applicable. Succession planning for a small business can be included in the process. The next step is to list all valuable assets in the estate in categories based on how they must be distributed, not forgetting to update beneficiaries on life insurance and retirement accounts.

Another task would be to ensure that those left behind have access to the plans and online assets. A list of passwords, locations of relevant documents and any contingencies such as age restrictions can be drafted with as much detail as possible because there will not be an opportunity for the survivors to ask questions. Close family members or trusted friends should know where these documents are stored, and copies of the estate plans could even be left with loved ones.

Once estate plans are in place, they should not be left to collect dust. All life events such as births, marriages, divorces, deaths and business acquisitions will have to be updated at regular intervals to ensure the plans remain current. The process may seem overwhelming but could be easily accomplished with the support and guidance of an experienced New Jersey estate planning attorney.

Source: kiplinger.com, "5 Tips to Start Your Estate Planning Today", Taylor Schulte, Accessed on July 28, 2017

No Comments

Leave a comment
Comment Information
Contact Us

Contact Our Firm For a Consultation

When you come in for an initial consultation, we can review your situation and evaluate your best options for moving forward. We value our relationships with our clients, showing our respect by remaining responsive and committed to each case throughout the process. To schedule your first consultation, call our Vineland office at 877-760-1031 or email us for additional information.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Top

Address

The Law Offices of Gruccio, Pepper, DeSanto & Ruth, P.A.
817 East Landis Avenue
Vineland, New Jersey 08360

Toll Free: 877-760-1031
Fax: (856) 692-4095
Map & Directions

Gruccio, Pepper, DeSanto & Ruth, PA