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Estate planning tips for New Jersey readers

In the New Year, many New Jersey readers will start with their resolutions. Promises to lose weight and get healthy are great, but it is also beneficial to resolve to review estate planning documents or start with this important process. The start of a new calendar year offers a great opportunity to ensure affairs are in order and a person has the necessary legal and financial protections needed.

If a person does not have an estate plan, it is beneficial to take this step, regardless of income or the size of a person's estate. Estate planning is not only for the wealthy, but it is also for those who want control of what will happen to their possessions, their pets and even their medical care in the future. Basic initial steps for those without estate plans include identifying goals, considering potential beneficiaries and learning about estate taxes.

Before a person moves forward with drafting an estate plan, it is helpful to list the assets to be included. Whether it is in a will or by creating a trust, protecting assets or designating assets for specific beneficiaries is an important step in the process. It is also smart to decide whether a portion of the estate will go to charitable contributions.

Estate planning can seem like an overwhelming task. A person may find it beneficial to discuss individual concerns with an experienced attorney. If a New Jersey resident wishes to start the process of getting an estate plan in place, a good place to start is with a complete professional evaluation of his or her unique situation.

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817 East Landis Avenue
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