Wills and TrustsSea Girt, NJ
There are many ways to safeguard your assets and provide for your loved ones under New Jersey law, including a variety of wills and trust arrangements. At Anthony J. Cafaro, P.C., we have the knowledge and experience to explain these options to you, and to customize an estate plan that works best for your personal needs. For more information regarding estate planning in Monmouth County and drafting a will or trust, please see below.
Overview of Monmouth County Wills & Trusts Laws
A well-drafted will or trust lets you control how your money or assets are divided after your death. You can also use these and other tools to control who gets access to your estate and how they get access, such as establishing conditions for receiving installments. One reason you might consider this is if you want a minor child to inherit part of your estate, but you want to make sure they receive installments only on reaching a certain age.
There are many types of wills and trusts that can be created based on your individual goals and priorities. For example, New Jersey law permits people to create simple wills, pour-over wills, revocable living trusts, irrevocable trusts, special needs trusts, and more. Unlike a will which may become public, a living trust allows an individual to keep their estate-related decisions private and can sometimes allow assets to be managed more quickly at death than with a will, which must go through probate.
Recognizing the Distinction between Wills & Trusts
It is important to understand that a will is different from a trust. A will usually determines a one-time distribution of assets and takes effect at death, while a trust is a set of instructions which can apply during life or death. These differences can have important tax consequences such as whether or not property passes through probate.
Consulting a knowledgeable Monmouth County estate planning attorney ensures that you create an estate plan customized to your wishes. At Anthony J. Cafaro, P.C., our invaluable experience with estates and estate planning includes drafting legal documents, handling probate and estate administration matters, and assisting with all aspects of estate tax planning.
Contact a Monmouth County Estate Planner Today to Provide For Your Loved Ones
If you have questions about creating your will or trust, contact an experienced Monmouth County estate planning lawyer today. At Anthony J. Cafaro, P.C., we provide personalized services to suit your individual needs
Anthony J. Cafaro, P.C. is located in Sea Girt, New Jersey and serves clients in and around Sea Girt, Spring Lake, Avon By The Sea, Manasquan, Bradley Beach, Neptune, Brielle, Allenwood, Allenhurst,> Asbury Park, Deal, Oakhurst, Belmar, West Long Branch, Mantoloking, Ocean Grove, Monmouth County and Ocean County.
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