While investors and investment professionals generally have positive interactions, a securities arbitration lawyer sometimes must step in. You do have the option of representing yourself during arbitration. However, that is usually a mistake. An attorney can help you succeed and reach your goals during the arbitration. This is apparent when you learn the top three…
Planning Your Future With a NJ Estate Law Firm
A New Jersey estate law firm can help you prepare for the future. From preparing for long-term care to ensuring your assets go to the right beneficiaries, your lawyer will handle everything for you. Once the plan is in place, you will not have to worry about taking care of yourself or your family as you age. Everything will be in order so that you can enjoy your golden years without fear.
How an estate law firm helps people prepare for the future
When people use an estate law firm, they benefit from the attorneys’ knowledge of New Jersey and federal law. These laws impact how estates are valued, distributed, and taxed. Using this information, attorneys help clients plan for future healthcare needs, direct the distribution of assets, and reduce the inheritance tax. Estate planning attorneys can also help arrange guardianships for minor children when applicable. These are just some of the services that estate planning attorneys provide.
Plan for healthcare needs
Healthcare needs change as people age. Older adults might require in-home caregivers or need to live in a nursing home. People may also become unable to make healthcare decisions for themselves as they age. An estate lawyer can help clients prepare for any of these healthcare needs. That could include setting up a healthcare power of attorney or proxy and creating a financial plan for long-term care that protects valuable assets.
Direct the distribution of assets
When New Jersey residents die without a will, the court follows the law of intestate succession. This law does not take the deceased’s last wishes into account. Fortunately, estate planning documents allow people to distribute their assets as they please. People can include or disclude anyone, and the court will honor the plan as long as the document is legal. An estate law firm ensures the legality of these documents.
Reduce the tax burden
New Jersey is one of six states that imposes an inheritance tax. The tax ranges from 11%-16%, creating sticker shock when people inherit assets. An estate planning attorney has strategies to reduce the percentage the beneficiaries pay. Methods may include setting up a trust, gifting, and leaving exempt assets. Attorneys must evaluate the estate before recommending strategies to reduce the tax burden.
Arrange for guardianship
Parents should arrange for guardianship when planning their estate. If both parents pass away without listing a guardian, the child could end up in foster care. After selecting a guardian, an attorney will include the plan in legal documents. Then, if something happens, the court will honor the parents’ request.
Begin planning for the future today
Today is the right time to start planning for the future. You never know what tomorrow will bring, so put a plan in place today to be ready if something happens. An attorney will help you create the legal documents necessary to protect your assets, your loved ones, and yourself. Aging is so much more enjoyable when you do not have to stress about your estate.
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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