For individuals, planning for the disposition of one’s assets and wealth upon one’s death can be very difficult and at times feel very uncomfortable. However, it is important that you seek advice and discuss proper estate planning techniques with a New Jersey Estate Planning Attorney for an appropriate disposition of your assets and wealth upon your death. For some individuals it is essential to protect the assets you have worked dearly for during the span of your life and protect your family’s interest as well.
Having a discussion and seeking the assistance of a New Jersey Estate Planning Attorney regarding the disposition of assets upon death can be very uncomfortable situation for our clients. Not only is the future unknown, some clients simply do not feel at ease planning for their death. However, clients are sure of the importance protecting the assets they have attained during their lifetime and the importance of protecting the interests of their loved ones from events that are all too certain to occur. The Juzmeski Law Firm knows that it is indispensable and crucial that our clients be informed and provided with the necessary legal services that are essential in planning for the disposition of our clients assets, protecting our clients and their loved one’s interests, and planning for unknown events such as death, divorce, and disability.
Understanding the important terms and laws to develop a proper estate plan can seem overwhelming and intimidating. The Juzmeski Law Firm will hold necessary conferences with our clients so that we may have the necessary discussion and communication to lay out your needs and goals to plan appropriately to tackle challenges and eliminate uncertainties maximizing the value of your estate through reduction of taxes, expenses, and costs. Your New Jersey Estate Planning Attorney will provide you with the necessary education, support, and communication that is intricate in developing a proper estate plan using essential estate planning techniques accessing your needs, concerns and goals to secure the future of you and your family.
The Juzmeski Law Firm can assist you with the following:
- Last Will & Testament
- Living Wills
- Healthcare Directives
- Powers of Attorney
- Revocable/Irrevocable Trusts
- Special Needs Trust
- Business Succession Planning
- Charitable Planning
LAST WILL & TESTAMENT
Some clients are unsure of what initial steps to take to protect their assets and the interest of their loved ones. Here at the Juzmeski Law Firm we will provide you with the necessary information and guide you through the creation of your Last Will & Testament. A Will dictates the beneficiaries of your choosing that your property will pass to and how it will be distributed upon your death. A Will is an essential instrument and tool that enables our clients to have control over the distribution of their assets while using estate planning techniques that may minimize taxes and costs. We advise clients of the importance of drafting an appropriate Will as there are certain undesired consequences upon death should a Will not be established. Should an individual die without a will, known as intestacy, statutes as provided by the State of New Jersey will govern and control who administers your estate and how and to whom the assets of your estate will be passed on to.
Clients can at times feel concerned over a future event that can be out of their own control. It is important that our clients be informed and aware of different planning techniques that can protect our client’s needs and meet their wishes. The Living Will is a tool that is often times considered by clients. A Living Will is essentially a document describing the medical care our client wants to receive should our client become terminally ill and unable to make decisions for him or herself. The difference between a Living Will and a Last Will & Testament is the simple fact that a Living Will is used while you are alive and a Last Will & Testament is used upon your death.
A Healthcare Directive can be viewed in addition to or a supplement to a Living Will. Healthcare Directives are essentially written instructions and directions prepared by you for the purposes of meeting your specific wishes which describes and states what type of medical care you want to receive in the event that you are unable to make these important decisions yourself. A Healthcare Directive is planning tool that gives you an opportunity to appoint an agent of your choosing to make healthcare decisions on your behalf and by your instruction should you be unable to make these important decisions yourself.
POWERS OF ATTORNEY
A Power of Attorney is as important and crucial as a Living Will and a Healthcare Directive. It reiterates our Clients common concerns over future events that are out of their control. With Living Will and Healthcare Directive tools utilized to assure our client that their healthcare needs and wishes will be met, it is important that our client’s next plan to have their financial needs met should an event occur prohibiting them from making important financial decisions. A Power of Attorney allows our client to name and authorize another person to make financial decisions on behalf of our client should our client be unable to make his or her own financial decisions. There are different variations of Powers of Attorney that you must be informed and aware of and we strongly urge that you discuss your planning needs with an Estate Planning Attorney.
There are times in which clients seek the assistance and legal services to establish guardianship of an individual who is incapacitated. The Juzmeski Law Firm assists clients in establishing guardianship and providing clients with the necessary information to guide them through this process. Some clients seek a general guardianship of which the Surrogate Court must find that the person is incapacitated and without capacity to manage his own affairs. The appointment of a guardian allows the opportunity for the guardian to exercise all the rights and powers of the incapacitated person who is simply unable to act on their own. Some individuals need assistance for an appointment of a Guardian of the Person or Guardian of the Property or both. We are here to help you through this guardianship process addressing and meeting your needs and concerns.
Trusts can be an invaluable tool that clients may utilize for a variety of reasons such as protecting the interest of the client and their loved ones with the potential of reducing liabilities toward federal estate taxes and New Jersey death taxes. A Revocable Trust, also known a living trust, is legal document created during one’s lifetime that gives a person the availability of transferring assets to the Trustee of a trust whereby holding the authority and power to amend or revoke during their life. In comparison to a Revocable Trust, an Irrevocable Trust is a legal document in which your assets are no longer held in your name whereby disabling your ability to essential amend of revoke the trust. However, you hold control over how trust principal and trust income of your Irrevocable Trust are to be distributed and transferred in the future.
SPECIAL NEEDS TRUST
Often times a parents or grandparents seek assistance to develop a plan in which may benefit a disabled child or grandchild. A Special Needs Trust is a unique planning tool in which allows for such benefits to be provided as intended by our clients. A Special Needs Trusts is created so that beneficiaries who are disabled or mentally ill will be able to gain from assets or property held in a trust for their benefit. This planning tool allows for a disabled or mentally ill beneficiary to benefit from the trust assets without affecting the disabled person’s ability to receive governmental benefits at the same time.
Probate can be a confusing and complex process for many individuals. Probate is the legal process of transferring the decedent’s estate to heirs or beneficiaries. Essentially, the decedent’s estate is administered by resolving all claims and distributing the assets and property pursuant to a valid will. The decedent’s last will & testament is probated or filed in a New Jersey county Surrogate’s office of which the decedent was a resident. The decedent will usually choose an individual as an executor empowered with the authority of administering the estate of the decedent. The executor or administrator of the estate has the responsibilities of notifying heirs and beneficiaries named in the last will & testament, diligently search and inventory assets and claims of the decedent, satisfy valid claims, and distribute assets. It is important that you have a New Jersey Estate Planning Attorney assistant and guide you through this process so you may be confident that your matter will be handled with care.
Contact Juzmeski Law Firm Today to Schedule a Consultation.
To discuss your matter with a New Jersey Estate Planning Attorney, contact the Juzmeski Law Firm by email or call (201) 288-2250 to schedule a Consultation.
All initial consultations and further communication with your attorney through the life of your matter will be held of utmost importance and confidential so that we may discuss your matter and any issues of concern in an open and candid, professional environment.
The Juzmeski Law Firm proudly serves and represents clients all across Northern and Central New Jersey with our office located at 200 Riverfront Blvd., Elmwood Park, New Jersey.