THE THREE ESSENTIAL DOCUMENTS
FOR PROPER ESTATE PLANNING

Proper estate planning necessitates that you have the following documents:

1) A Last Will and Testament

• Without a Last Will and Testament, the State of New Jersey determines your beneficiaries and how your estate proceeds will be distributed and by whom.
• Without a Last Will and Testament, your family members may be required to post a bond and may be in disagreement as to who will best distribute the proceeds of your real and personal estate, possibly resulting in years of litigation and bad feelings amongst your family members.
• The better approach is to have competent legal counsel draft a will with any associated trusts that will distribute the proceeds of your estate in the manner as you determine.

2) A Durable Power of Attorney

• A durable power of attorney protects your estate while you are alive but incapacitated. It empowers another individual to act for you in business and personal transactions upon incapacitation. It can provide that it does not go into effect until and unless you are incapacitated.
• A durable power of attorney obviates the need for lengthy and expensive court hearings where a judge selects the individual who he or she determines best represents your interests.
• You can make the choice now to ensure that the individual who acts on your behalf is someone with whom you are comfortable and trust.

3) A Living Will and Advanced Directive for Health Care

• A living will allows you to name an individual as a health care representative to represent your interests should you become terminally ill or lapse into a coma.
• You may specify your right and commitment to make voluntary, informed choices to accept, to reject or to choose among alternative courses of medical and surgical treatment utilized for prolonging your life.
• By setting forth your general treatment philosophy, you prevent lengthy and expensive court hearings and family disputes over the decision to provide medical treatment when you cannot speak for yourself.

For more information regarding Estate Planning or for general questions regarding estate matters and disputes, please feel free to contact my office for a free telephone consultation.