Dedicated Union County Lawyers Assist Business Owners and Families with Estate Planning
When you work hard to build up assets and wealth, you understandably want to be able to enjoy that wealth for yourself and your family and pass it on to your loved one after you are gone. To make sure that what you leave behind when you are gone goes to whom you want it to, you need an estate plan. An estate plan can also allow you to instruct your family and loved ones about your other wishes, such as how you wish to be cared for in the event of a serious health situation. Estate planning is something every person should undertake, whether or not you have business interests or significant assets that you plan to give away when you pass on.
Since 1984, the Union County estate planning attorneys of Bramnick, Rodriguez, Grabas, Arnold & Mangan, LLC have helped clients across New Jersey undertake estate planning to ensure that their loved ones are taken care of and understand their wishes and instructions. We can help the estate planning process seem a lot less daunting by explaining your options and advising you as to the tools you can use to achieve your estate planning goals. Whether you are looking to manage an extensive estate or simply make sure your family is taken care of when you are gone, our attorneys will use their extensive experience and legal knowledge to ensure you have an estate plan that will achieve your goals. Contact us today to set up an initial case evaluation to talk to us about your situation and to learn more about how our firm can help you with your estate planning.
Examples of Estate Planning Tools We Use in Scotch Plains, NJ
At Bramnick, Rodriguez, Grabas, Arnold & Mangan, our knowledgeable estate planning attorneys can assist you with drafting or amending all different kinds of estate planning documents, such as:
Wills – A will is a document in which you set forth what you want done with your assets when you die, such as poured over into a family trust, given to family and friends, or donated to charity; parents of minor children can also designate preferred guardians in the event both parents pass away during their children’s minority
Trusts – A trust is a document that allows you place title to and control of your assets in the hands of another person or entity, called a trustee, who then manages those assets in accordance with the terms of the trust document; certain kinds of trusts, such as living trusts, can be powerful estate planning tools by allowing you to enjoy the benefits of your wealth during your life while allowing those benefits to pass to your family and loved ones without the time and expense of probating a will
Living wills – A living will sets forth what your preferences are if you incapacitated and require life-sustaining medical treatment
Durable power of attorney – A durable power of attorney is a document in which you designate a person to have access to and control over your financial affairs and to make certain personal decision for you; a durable power of attorney can immediately go into effect upon execution, or you can specify certain conditions under which it will go into effect
Health care proxy – Similar to a durable power of attorney, this designates a person to make health care decisions for if you are incapacitated and unable to make them yourself
Our attorneys can help you understand your estate planning options and advise you as to what tools may be best for you and your family.
Ways Bramnick, Rodriguez, Grabas, Arnold & Mangan Can Help You with Your Estate Planning
When you hire Bramnick, Rodriguez, Grabas, Arnold & Mangan to assist you with developing an estate plan, you can trust that our attorneys will take the time to get to know you and your family and understand your particular financial situation and your goals for your estate plan. That way, our attorneys can guide you to the appropriate tools to achieve those goals and make sure that your estate planning documents are effective and valid. We are also here for you when big changes happen in your life that necessitate you revising your estate plan.
Schedule a Consultation to Speak to One of Our Knowledgeable Elizabeth, NJ Estate Planning Attorneys about Your Options
In the event something unfortunate were to happen to you, you don’t want to leave your loved ones trying to figure out how to make decisions on your behalf or what choices you want made for you or how you want your property to be distributed when you are gone. Having an estate plan eliminates this guesswork for your family and friends at an incredibly trying time such as your serious illness or injury or your passing. Contact Bramnick, Rodriguez, Grabas, Arnold & Mangan today to schedule a case review to discuss your rights and options and to learn more about how our firm can help you develop an estate plan that works for you and your family.
Frequently Asked Questions about Estate Planning in New Jersey
FAQ: When should I consider engaging in estate planning?
It is advisable for every adult to have at least a basic estate plan that includes a will, a health care proxy, and a durable power of attorney. However, you definitely will want to consider developing an estate plan once you start a family or acquire significant assets, like a house. Having even a basic estate plan will ensure that people you trust will be empowered to make decisions on your behalf if you are unable to and let your family know your wishes and how you want your property distributed when you are gone.
FAQ: How often should I update my estate plan?
Typically you should consider updating your estate plan whenever you experience a significant event in your life, such as purchasing a home, getting married or divorced, having a child or grandchild, or coming into a significant sum of money (like from an inheritance or lottery/gambling winnings). Reviewing your estate plan whenever these events occur will ensure that your estate is distributed you intend based on the new changes in your life.
