When planning for the final disposition of your estate in Wood Ridge, New Jersey, there are a few things you'll want to consider: who do you want to give your assets to, and under what conditions? Do you have any preference for how your funeral should be handled? Do you have any specific wishes concerning end-of-life care? These questions, and more, should all be taken into account.

Generally, the first thing a person thinks about when they think about estate planning is a will. A will dictates what happens to a person's property after they die. In general, you can leave your property to whomever you want, and attach almost any condition to such gifts. In the vast majority of estate plans, a will is the central component. It is rarely the only one, however.

In addition to a well-drafted will, a comprehensive estate plan should include things like a living will (healthcare directives made in advance, in case you become incapacitated and unable to make or express such decisions), funeral instructions, and instructions relating to organ donations.

Most importantly, an estate plan should give instructions on the care of your minor children. It should lay out who is to take custody of them, and, if possible, leave them a large sum of money to assist with this care. Of course, you should discuss this matter with the people who you want to take custody of your children, to make sure they can actually take on such responsibility.

What Type of Estate Plan Do I Need in Wood Ridge, New Jersey?

Obviously, the answer to this depends on many factors, as well as your goals and preferences. However, most people, when deciding what type of estate plan they need, consider their health, age, and wealth.

For example, if you are in your 20's and unmarried, an estate plan probably does not need to be on your priorities, unless you are very ill, or independently wealthy.

If you're not married in Wood Ridge, New Jersey, but have a life partner, estate planning is essential. If you want your partner to be treated as your spouse, your estate plan should make arrangements to give him or her power of attorney in the event that you become incapacitated. Additionally, your will should clearly name your partner as a beneficiary, if you want them to inherit any of your assets.

There is another large group of people who would benefit from having a good Wood Ridge, New Jersey estate plan: the elderly and those with a lot of money really need to consider making a comprehensive estate plan as soon as possible. While this necessarily involves facing some uncomfortable realities, it is important and unavoidable.

Do I Need a Wood Ridge, New Jersey Estate Planning Attorney?

Because estate planning in Wood Ridge, New Jersey is not always simple, the assistance of a good attorney will almost certainly be useful, and worth the cost. This is doubly true because of how important the issues involved can be, and the fact that a relatively minor mistake can sometimes derail an entire estate plan.