NJ WILLS AND TRUSTS LAWYER

Use a will and trust to protect your assets, properties, and more

How We
Can Help

Most people are reluctant to face the fact that one day their life will come to an end. Yet, as difficult as it may be to think about, death is something that will happen to all of us. But because our passing is a certainty, we are able to make the necessary preparations for when our time comes. Getting an estate plan ready is a crucial step in making sure that the assets, properties, and finances you’ve earned throughout your life are protected when you pass on. You might be under the impression that it’s too soon to start thinking about estate planning, but keep in mind, the unpredictable nature of life can lead to an untimely death, illness, or injury. There is no reason to risk the loss of your estate, especially if you own assets of substantial value.
Handling you estate planning now is much more preferable to the alternative. Without a set plan in place at the time of your death, your estate will ultimately end up in the hands of a judge who, most likely, has no interest in your history, your family, or your goals. Whatever assets you may have left behind will go through probate where they will be open to conflicting and possibly fraudulent claims. You can see how a situation like this will invariably lead to bitter feuds and possibly severed ties among family members. However, through an estate plan, you have the power to leave clear, transparent instructions as to how you wish for your estate wealth to be distributed and thereby prevent any contention among those you love.
Best Lawyers Logo
Avvo Logo
Best Lawyers Logo
Family Law Logo

Wills—more than money

Although for many people a will connotes money and valuable assets, in reality, there is a broad range of items that can be included in a will and distributed to the corresponding persons named within the will. Across the legal field, it is widely known that many highly acrimonious conflicts between family members have occurred as a result of non-monetary consignments. Objects with sentimental value or family heirlooms that may have belonged to the deceased become points of contention as remaining family members wish to be the keepers of them.
In order to prevent bitter fights among family members and loved ones, be sure to create a thorough inventory of your entire property, paying special attention to objects that are of sentimental value or have been in the family for several generations. While these objects may not hold any monetary value, it may mean a great deal for someone in your family to be the recipient of such an item. In meeting with your estate planning attorney, you can bring this inventory to their attention. Your attorney will make sure that the items and the corresponding instructions for their distribution are stated in your will as clearly and transparently as possible.

“Our Firm Takes Pride In The Recognition We Have Received As One of the Top Industry-Leading Estate Planning Firms In New York”

Morgan Legal Group PC

PRACTICE AREAS

WILLS AND TRUSTS ATTORNEY IN NYC

WILLS AND TRUSTS

WILLS AND TRUSTS

It is never too early to make out a will. The thought of dying is not one that most people wish to dwell on....
Read More
MEDICAID PLANNING ATTORNEY IN NYC

MEDICAID PLANNING

MEDICAID PLANNING

For many people, thinking about long-term care is a topic that is often put off as long as possible. However, in doing so, they are setting....
Read More
ASSET PROTECTION ATTORNEY IN NYC

ASSET PROTECTION

ASSET PROTECTION

You work hard in life, and you accumulate specific assets as a result. Perhaps you have a home...
Read More
PROBATE ATTORNEY IN NYC

PROBATE

PROBATE

If you need an attorney to help you with probate issues during difficult times of grief in New York City, Morgan Law Group PC can help you...
Read More
ICON ESTATE PLANNING ATTORNEY IN NYC

ESTATE PLANNING

ESTATE PLANNING

Mortality is a grim but stubborn fact of human life. You cannot live forever, and it is important...
Read More
ICON BUSINESS SUCCESSION PLANNING ATTORNEY IN NYC

BUSINESS PLANNING

BUSINESS PLANNING

You pour your life into starting, growing and managing your business. As you work hard to keep your business driving in the right direction, it can be easy to lose sight of the long term...
Read More
ELDER LAW ATTORNEY IN NYC

ELDER LAW

ELDER LAW

With the population of the United States consisting of more and more older adults, it’s important...
Read More
ICON GUARDIANSHIP ATTORNEY IN NYC

GUARDIANSHIP

GUARDIANSHIP

Guardianship is a serious matter. When you ask the court for rule over another person, you are mostly taking on the challenge of overseeing their life...
Read More
Justia LOGO

Trusts—take control

Along with a will, you’ll want to have your estate planning attorney set up a trust within your plan. Similar to a will, a trust can serve as a useful tool for overseeing your finances and properties. However, there are few added advantages to creating a trust. A trust not only gives you control over what assets you wish to consign to a beneficiary, it also lets you decide when or how frequently they are to receive them. Moreover, you can also set up specific guidelines or conditions pertaining to the distribution of the assets in your trust. For example, you might choose to withhold trust funds appointed to your children until they reach 21, or you may add the condition that they must use a portion of their funds to pay for college tuition.
Another important component a trust covers is the protection of your estate in the event of your incapacitation. Should you suffer a disabling injury or illness that leaves you mentally unsound or unable to communicate, you can name an individual in your trust to make major decisions on your behalf with regards to the management of your estate. A will offers similar protection in regards to your health care and medical decisions.
Morgan Legal group PC

Explore your options with an attorney

There can be a lot to unpack when considering the creation of a will or a trust. If you’re wondering which is the best fit for you or if you should set up both a trust and a will, get in touch with an estate planning attorney. A competent and qualified attorney will be well-versed in any questions or concerns you may have about wills and trusts. They will provide a helpful breakdown of these documents for you and find the best solution for your future goals.

important things you should know

Questions And Answers

There are currently no laws or regulations in place that require you to draft a will. However, simply because having a will is not compulsory doesn’t mean that you should brush it off. A will is a vital document that can save you and your family a lot of trouble in the future. A will takes effect upon your passing and lets your family and legal practitioners know of your wishes regarding the distribution of your assets and properties. Without a will, you essentially surrender any authority over your estate.
In theory, you can draft your own will, but whether or not you should is another matter. There are certain requirements that must be met for a will to be valid and hold legitimate authority with regards to an estate’s distribution. Moreover, the size and complexity of your estate may make it impossible for you to create a will on your own. All assets and finances, as well as debts must be properly accounted for. Failing to do so could lead to lengthy and costly legal disputes over your estate. Therefore, it is in your best interest to seek out an estate planning attorney to create a proper will.
There are several items within an estate plan that serve to prepare for circumstances where you may be incapacitated or terminal. A living will is one of these, and it becomes effective should your mental faculties become unsound or you are unable to communicate due to injury or illness. A living will is specifically designed to manage your health care under end-of-life situations. This document instructs your loved ones and medical professionals as to any life-prolonging treatments you wish to receive as well as which procedures you won’t consent to.
In the event that you should pass away without leaving a will, it is understood that you have died intestate. This simply means that there is no will to authorize in a probate court in connection to your estate. As such, depending on which state you permanently resided in, your finances, assets, and debts will be handled under that state’s laws of intestacy. For the most part, state intestacy laws dictate that your estate will be consigned to your closest living family such as your spouse, children, or parents.

SAFE & SECURE

FAST RESPONSE

Morgan legal Group

Quick Contact

Close Menu