10 Reasons Why You need a will in New Jersey.

Mar 7, 2016 | Uncategorized

  1.  A will ensures that your possessions will be distributed as you wish. (For the most part.) Without a will, the law decides who gets your stuff. If you die without a will, you die intestate. Intestate is just a fancy way of saying someone died without making a will or living trust. Without a will, the law decides who gets your stuff.  Whatever wishes you may have had can be ignored by the person the law says gets your things.  In some stated, your kids may automatically get a share, so your spouse may not be left with enough for basic support.  A will is a legally-binding document that lets you say who gets what and how much of it.  In some states like New York and New Jersey, even if you die with a will, the law prevents you from completely disinheriting your spouse.  A will is the only way to make sure your final wishes are carried.  If you are living separated from your spouse, you may want to consider finalizing that divorce so your estranged spouse doesn’t come back demanding a share from those you love.
  2. You are not married, and want to provide for a partner or a non-family member. A Will is essential if you want to leave your assets to a partner you are not married to, or someone other than family. Most states have intestacy laws that are brutal on unmarried couples. Imagine your live-in partner of 30 years being forced from your shared home by your brother’s niece so she can sell it to support her cat food bill.
  3. You can disinherit people who would otherwise stand to inherit. You may disinherit individuals who would otherwise inherit your estate if you die without a will. There are limits in some states, but for the most part, if you have an estranged relative that stands to inherit, a will can prevent that from happening. Disinheriting children and favoring one child over another or even donating to a charity instead are all common things that a will can provide for.
  4. You get to pick who oversees the distribution of your property after you die. In you will you can name the Executor and/or Trustee that you believe will follow the terms of your will. This can give you peace of mind knowing that your last wishes will be carried out.  Not everyone is a math wiz, or can handle the responsibilities of being an executor, so naming the right person can make the life easier for the people you leave behind.
  5. Where else do you think you are going to tell people about your funeral wishes? You can even pre-arrange your funeral and make your passing an easier time for your loved ones.  Do your family members know if you want to be buried, cremated, or even donated to science? Making your wishes know ensures that your body will treated in the way you desire.
  6. Appoint a guardian for your children. Your Will serves as the guiding document for the care of your children in the event of the death of both parents. If one parent is still alive, this section can at least make that parent aware of what your wishes are if they were to pass, too.
  7. Expedite the legal process. It is faster and less costly to settle an estate with a Will. This can reduce legal fees, protect the value of your property, and reduce the stress on your loved ones when settling your estate.
  8. Reduce taxes and costs. Proper estate planning will reduce the amount of taxes that are owed on your estate.  It is possible to die, and owe no estate taxes.  Discussing your situation with an attorney can help ensure your loved ones are not forced to pay more taxes than needed, or suffer other legal costs.
  9. A will reduces the stress and heartache for your loved ones. A Will that clearly outlines your wishes for funeral arrangements, and property distribution will reduce your family’s stress during the emotionally difficult time of your passing.  This is one way to help your family even after you are gone.
  10. It is easier than you think to create a will. Many wills can be created the same day that you decide you want one.  Answering a series of short questions is the first step in creating a will. Call us now to have your will created.

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