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Planning Your Future With a NJ Estate Law Firm
With the help of an estate law firm, you can plan for your future and protect the people you love. Many people say that estate planning is like a gift to your family. It is also a gift to you. A solid estate plan is the key to aging gracefully.
Ways an estate law firm helps people plan for the future
An NJ estate law firm has different tools in its arsenal. During the consultation, the law firm asks questions related to the client’s needs. Then, the firm creates a customized estate plan based on those needs. The plan will likely protect the client while alive and care for loved ones upon passing.
Wills, trusts, and probate
Wills and trusts are what most people think of when it comes to estate planning. Both documents are used to distribute property after the descendants pass on. Some people choose living trusts to avoid probate after passing. However, living trusts cannot address some estate planning needs. For instance, a trust cannot name guardians for minor children. Some people choose to get both a living trust and will, while others choose only wills.
Those who are concerned about probate have options outside of a living will. An attorney can create a plan that transfers property without going through probate. This might include using a transfer on death form for stocks and bonds. The attorney can also advise the client regarding retirement and life insurance policies since neither goes through probate.
Long-term care plan
Many New Jersey residents end up in long-term care facilities such as nursing homes. An estate law firm can create a long-term care plan with that in mind. The plan could include helping people choose long-term care insurance to pay for the care. An attorney can also help people devise a plan to ensure they qualify for Medicaid down the road. Then, Medicaid will cover the cost of the care.
Estate planning also includes a living will. This document details end-of-life directives. An estate planning attorney can also include a medical proxy in the living will. The medical proxy steps in if the person cannot make decisions.
Durable power of attorney
Sadly, people who do not have an estate plan run into a serious problem if they become incapacitated. These people must go through a legal process to prove incapacitation, and then the court appoints a guardian. An NJ estate law firm helps residents avoid this by creating a durable power of attorney. The person gets to appoint someone to take over the financial affairs if incapacitated.
Get ready for the future
You do not know what the future might bring. However, you do know that an estate planning law firm can help you prepare for whatever comes your way. A law firm can protect your interests from creating a will or living trust to a durable power of attorney. Then, you will have peace of mind as you age.
Call us at (732) 449-0449 for more information from Anthony J. Cafaro, P.C. or to schedule a consultation in our office in Sea Girt. NOTE: This is for informational purposes only and does not constitute legal advice.
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