"Estate planning" in Tinton Falls refers to the decisions a person makes regarding what is to be done with their assets after their death, and the process of implementing those wishes.

The problems that estate planning raises are sometimes very convoluted. Without competent legal and financial advice, many problems can pop up, which can easily throw your entire plan into disarray, and cost your survivors a great deal of time, energy, and money.

In addition to post-death decisions, estate planning also concerns matters that might affect you during your life, such as granting power of attorney to a family member or trusted friend in case you become unable to make your own decisions regarding your finances or medical care. Additionally, effective estate planning can minimize the impact that estate taxes and court fees will have on your final disposition to your loved ones.

A brilliant Tinton Falls professional experienced in estate planning can make this process a great deal easier. They can also help ensure that your estate plan does not end up in court.

Common Features of Tinton Falls Estates

Will: Wills are a very important part of almost all estate plans. In simplest terms, it answers the question "who gets what after I die?" Typically, you can leave your property to anyone you wish. If you die without a will, your property will usually be given to your closest living relative (usually a spouse or child).

Living Will: This is a document which lays out instructions for your medical care, should you become so sick or badly harmed that you are unable to express your wishes. It should state under what situations you want to remain on life support. A well-drafted living will can prevent you from being kept alive in a permanent vegetative state (if that is not what you want), while ensuring that you receive medical care as long as you have a chance at recovery.

Power of Attorney: Power of attorney, while important, is not to be used lightly. This is because it involves granting someone else the power to make legally-binding decisions on your behalf. Normally, your spouse will automatically have power of attorney if you become incapacitated. If you are not married, however, you need to make a document explicitly granting that authority to someone you trust (a life partner or close family member, for instance).

Funeral Arrangements: If you have any strong preferences regarding the disposition of your physical remains, you should make them known to your family early, and should not include funeral instructions in your will. Wills are commonly read weeks after the testator dies, so in most cases, it will be too late by then.

Do I Need a Tinton Falls Estates Lawyer?

A brilliant estate planning professional in Tinton Falls can be invaluable, and you will probably find their services to be well worth the price. They can make the whole process a great deal easier, and they can also help to minimize the chances that your estate plan will be disputed, saving your survivors a great deal of time, money, and energy.