Wills are drafted to dictate how a person would like to have their personal property distributed after they are deceased. Our estate planning attorneys draft self-proving wills for their clients, the most common and widely recognized type of will.
To become legal, self-proving wills must be signed by witnesses and notarized, and an executor is appointed to administrate the distribution of the estate. The executor, or estate administrator, is not only in charge of distributing the estate, but resolving the deceased’s finances as well.
Unlike wills, trusts can be enacted before the individual is deceased. During the drafting of a trust, the trustor designates property and appoints a trustee to over see the management of the property. The language set forth in the trust creates guidelines for how the trustor’s property can be utilized for the benefit of those named as recipients in the trust (the beneficiaries). Generally speaking, a trust seeks to maximize the profitability of the trustor’s property, whether it be real estate, financial investments or otherwise. There are many different types of trusts, and the experienced estate planning attorneys from our New Jersey firm can help you select the type of trust that is best suited for your needs.
Schedule your meeting today where you can learn about the benefits of drafting a will or trust.
If you are interested in having a will or trust drafted, contact our law firm today and schedule a free initial consultation with one of our estate planning attorneys. Your attorney will listen attentively to your goals and wishes and provide you with the best plan for preserving your wealth and passing it on to those who are important to you.
