There are so many things to do and to accomplish, and such little time. In fact, the future is just around the corner and your local New Jersey divorce lawyer also provides excellent estate planning solutions. This helps you properly plan for your future.
You do not have to be a millionaire to leave a will. In fact, everyone has things that they wish to pass on to their loved ones. These things must be clearly defined in a legal document if you want to be certain that your last wishes are carried out.
Estate planning is much more than wills and funeral expenses. Suppose you were disabled and could not make your own legal and financial decisions. You have a right to choose who you grant power of attorney to, but you must make this decision beforehand.
Some people wish to leave money to relatives but not all people are responsible with finances. However, you can leave a substantial amount of money to an irresponsible person if you make sure that a trust fund is set up. Your estate planner is the person to talk to.
When you are raising children, it is your responsibility to see to their day to day needs. However, you also should consider their needs for the future. The time to set up college funds is now. You also should choose a potential guardian should something happen to you and your spouse. This is the best way to be sure that your family is in good hands, if you cannot be there.
Many people have life insurance but it is not sufficient. A good estate planning attorney sits down with you and helps you figure out how much insurance you should have. Your attorney knows the differences between, term, whole life, and endowment type policies and will help you choose the best one for your needs. Also, you can visit your estate planner periodically for updates and changes.
You do not have to be a millionaire to leave a will. In fact, everyone has things that they wish to pass on to their loved ones. These things must be clearly defined in a legal document if you want to be certain that your last wishes are carried out.
Estate planning is much more than wills and funeral expenses. Suppose you were disabled and could not make your own legal and financial decisions. You have a right to choose who you grant power of attorney to, but you must make this decision beforehand.
Some people wish to leave money to relatives but not all people are responsible with finances. However, you can leave a substantial amount of money to an irresponsible person if you make sure that a trust fund is set up. Your estate planner is the person to talk to.
When you are raising children, it is your responsibility to see to their day to day needs. However, you also should consider their needs for the future. The time to set up college funds is now. You also should choose a potential guardian should something happen to you and your spouse. This is the best way to be sure that your family is in good hands, if you cannot be there.
Many people have life insurance but it is not sufficient. A good estate planning attorney sits down with you and helps you figure out how much insurance you should have. Your attorney knows the differences between, term, whole life, and endowment type policies and will help you choose the best one for your needs. Also, you can visit your estate planner periodically for updates and changes.
About the Author:
New Jersey divorce lawyer for a summary of the advantages you get when you work with a knowledgeable New Jersey divorce lawyer, now. You can also get more information about a reputable attorney at http://www.micklinlawgroup.com today.
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