(856) 439-6223New Jersey Trusts and Estates Lawyer
Estate planning can be an arduous process, and some choose to procrastinate or avoid it entirely. In fact, only about 40 percent of Americans have a will or trust, according to AARP.
The ins and outs of estate planning might be made simpler by working with a skilled attorney. A capable New Jersey trust and estates lawyer may be able to painlessly guide you through the necessary procedures, so that your future can be further solidified.
Trust and Estates Regulations in New Jersey
The field of trust and estates is a broad one, and there are a variety of regulations concerning it. A New Jersey resident may choose from several estate planning instruments depending on their specific circumstances and needs.
An adept New Jersey trust and estates attorney could provide assistance with any or all of these legal functions.
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ENSURE YOU CONTROL YOUR ASSETS
You’ve spent your entire life working hard to accumulate all that you own. Wealth, property, homes, cars, valuables and priceless family heirlooms. But have you ever stopped to think about what might happen to all your assets should you get sick or die?
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5 ELEMENTS OF A FOOLPROOF PLAN
An “estate” consists of all of the items a person owns. These can include vehicles, bank accounts, retirement accounts, furniture, real estate, and life insurance. An “estate plan” is the method in which the estate is passed on to the next generation.
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About Russ Nesevich
As the founder of Nesevich Law, LLC, Russ Nesevich ensures that clients have optimally planned to protect their families and their assets through all stages of life. He works with families to navigate the often complex laws of estate planning and identify the solutions that will best meet their needs. Russ is an award-winning and engaging speaker and presenter and always makes himself available to speak to groups about all topics revolving around estate planning.
Several Options for Trusts in New Jersey
Many of the rules for trusts in New Jersey are defined in the Uniform Trust Code. New Jersey residents may elect to form a trust while they are still alive, or they might identify a trust in the terms of a will. A diligent trust and estates lawyer in New Jersey could present the various options for trusts during a consultation.
Living Trust
A living trust is sometimes called an inter vivos trust. These instruments allow the holder to access their own assets while they are still living. Inter vivos trusts are freely revocable, so they can serve as a viable option for those who are not ready to commit to a more permanent form of estate planning.
Testamentary Trust
A New Jersey resident may decide that a trust should not go into effect until after they pass away. If this is the case, they may set up a trust at the same time they publish their will. The terms of the will may contain a provision that the trust should go into effect upon the reading of the will, and the document can also indicate how the trust should be funded.
Per New Jersey Revised Statutes §3B:3-10, a document that exists at the time of the writing of a will can be described in the will. This is called “incorporation by reference.” Through this process, an individual could ask a legal representative to create both a testamentary trust, as well as a will which references the trust.
Bequeathing the Estate via a Will
A will can be a permanent option for passing on the assets in an estate, but it does not necessarily have to remain fixed. Wills executed in New Jersey should ideally be typewritten, but in some circumstances they can be handwritten.
If done properly, a last will and testament can be revoked, changed, or amended. It might be beneficial to consult a lawyer first, however, to ensure that the alterations are made properly and have the intended effect.
If you are one of the many Americans who lacks a will or a trust, it might be time to rectify that situation. A qualified legal professional may be a helpful resource as you choose an appropriate method for bequeathing your assets.
Many estate planning options exist, and it may be important to find out which one of them would be the right fit for your particular economic situation. Set up a consultation with a New Jersey trust and estates lawyer to start planning the future for your property.
What our Clients are Saying About us
“Russ Nesevich is a true professional… knowledgeable, approachable, understanding and was able to explain the details of estate planning so that I was entirely at ease throughout the process. I highly recommend Russ!”
“My wife and I were going on an overseas trip without the kids for the first time. We wanted to make sure that should something happen to us the kids would be taken care of. Russ helped us set up a will and testamentary trust.
Even though we only had a couple of weeks before our trip, Russ explained everything to us and prepared all of the documents in a timely fashion. He made sure we covered all of our bases and reviewed all of our legal options with us. He explained to us how to discuss estate planning with our family and relatives.
Russ is now our primary contact point for estate planning and financial advice.”
“I contacted Mr. Nesevich for updating our will. He spoke with me at length on the phone explaining what he does to make an estate plan understandable and easy to follow in a clearly designed notebook. My husband and I decided to meet for a consultation. While we were there, he explained all the areas of importance in an estate plan and asked us questions as well as answering our questions in a friendly and approachable manner.
After interviewing another attorney, we decided to hire Mr. Nesevich. We are extremely happy with the results!”
“We hired Russ to help us with a plan for our elderly parents and he masterfully navigated the family through a plan that worked for us. We are all happy to feel safe in knowing we are legally prepared for whatever the future may bring. We highly recommend Russ!”
“I highly recommend Russ Nesevich! My husband and I decided to update our Living Will. I can honestly say that there’s no comparison between our original living will and the updated comprehensive binder that was prepared by Russ. The material in the binder was well thought out and it covered all the topics that are important for the remainder of our lives. He took the time to understand our needs, hear our wishes and focus on all the details that were important to us. He even managed to incorporate the religious preferences.
Once Russ completed the will and we came to the office, he took the time to explain the entire binder, sign and notarize all the documents. It was also impressive to see that a USB stick was provided, as part of a binder. I haven’t seen that done before.
He also explained that if we ever wanted to change something it’s very easy to do because there’s no need to redo the entire document. :)”
