Wills And Trusts
Many people have a basic understanding of what wills and trusts are and what they are meant to do. However, most people are unaware of how important these estate planning documents can be in protecting their assets, reducing taxes on their estates, and simplifying the probate process for their heirs.
Call the Bernards Township law firm of D’Alessandro & D’Alessandro, LLC, at 908-766-5400 to learn more about wills, trusts, and our estate planning practice. Our experienced estate planning lawyers will take the time to explain how to plan effectively for your future and your family’s future.
Why You Need A Will And Trust
Many people mistakenly think that because they do not have children or do not have large assets, they do not need estate planning documents. At D’Alessandro & D’Alessandro, LLC, our Basking Ridge wills attorneys strive to educate our clients about the benefits of having a will, whether one is a parent or single person, with many assets or few.
- Wills provide the way to divide assets and property according to your wishes, not state law. If you die without a will (called intestate), the courts will divide your estate according to New Jersey law.
- Living wills – also called advance health care directives – communicate your wishes for health care if you are incapacitated or unable to speak for yourself.
- For parents, wills allow you to designate a guardian for your minor children. If you die without a will, a judge will decide who will raise your kids.
- Parents can also set up trusts for their children to provide for their futures, such as a special needs trust for a handicapped child or dependent adult.
- Different types of trusts can create significant estate tax benefits.
- For people without children, wills or trusts allow you to designate who or what organization inherits your assets, rather than allowing the state to divide your estate.
- For every person, wills allow you to pick the person who will handle the administration of your estate after you are gone. You designate the executor, rather than having the courts pick someone or let a creditor administer your estate.
It’s Easy To Get Started
In the end, wills and trusts can save you money and make the transfer of your assets — to your children, to a charity or to anywhere else you choose — simpler and faster. Contact our firm to learn more about the benefits of wills and trusts. We’re easily reached in Basking Ridge, Bernards Township and Bedminster.
For more information, visit our estate planning information center.