Since unfortunate accidents or unexpected events can alter the course of someone’s life, it is never too early to start the estate planning process. A carefully constructed estate framework can help you feel more comfortable about your future.
While drafting a will, creating a trust, or enacting a power of attorney may seem simple, the truth is that ensuring these documents carry the desired legal effect requires a complete examination of your assets and goals. This can be a difficult undertaking without help from a knowledgeable estate planning attorney.
Fortunately, an experienced lawyer could provide more information and help a Mount Laurel family navigate the estate planning process. Legal counsel could work with you to explain your options, explore your needs, and draft universally valid testamentary documents.
Evaluating One’s Goals and Assets
The first essential step of the estate planning process is an individual taking stock of their possessions, goals, and options. For instance, a person must consider what will happen to their physical property, real estate, or business holdings after they pass away. Afterwards, they must think about who they want to inherit these properties in the future. Evaluating assets and designating beneficiaries is part of the larger practice of establishing clear goals for an estate.
Fortunately, people do not have to attempt to categorize all their possessions and determine heirs on their own. A diligent Mount Laurel attorney could collaborate with individuals to help them pinpoint their possessions, outline the destination of assets, and develop transparent goals to make the estate planning process go as smoothly as possible.
Drafting Documents that Meet Legal Requirements
After individuals categorize their wealth and establish goals for their estate, the next step is to draft legal documents that transparently communicate their wishes. This can be a fairly straightforward process since the law rarely limits the provisions that a person can put in place.
However, individuals are required to ensure that a will or trust is properly signed by the correct party. This is a non-negotiable and crucial aspect of the drafting process. Various statutes outline these requirements in great detail. New Jersey Revised Statute § 3B:3-2, for example, establishes that an authentic will must be in writing, contain the testator’s initials, and include the signatures of two witnesses who observed the decedent sign the document. Many other testamentary documents feature similar requirements. A detail-oriented Mount Laurel representative could take the lead in drafting estate planning documents that do not breach the established legal guidelines.
Let a Mount Laurel Attorney Guide You Through the Estate Planning Process
Every adult should consider beginning the cautionary process of creating an estate plan. These frameworks can be lifechanging since they provide guidance, security, and future income for an individual’s circle of loved ones.
Beginning the process can be as simple as identifying your assets and people who you may want to inherit them. Other actions could include making plans for retirement, protecting your family against disaster, or pursuing tax benefits.
Do not hesitate to seek legal counsel today, since a committed lawyer could listen to your needs and elaborate on the most difficult aspects of the estate planning process in Mount Laurel. Reach out to the office to get started.