Why You Need to Create an Estate Plan For Uncertain Times

Why You Need to Create an Estate Plan For Uncertain Times

Many of us neglect to create a comprehensive estate plan until it is too late. Creating an estate plan helps ensure you have peace of mind, knowing that in uncertain circumstances, your assets are protected. Please continue reading and reach out to our experienced Bergen County estate planning attorneys to learn more about how we can help you draft an estate plan that works for you and your family. Here are some of the questions you may have:

Do I have to write a will?

Presumably, you’ve accumulated several belongings throughout life. Fortunately, you can protect those belonging and ensure they are distributed as you would have intended upon your passing in a will. Wills are essential documents to any comprehensive estate plan. If you die without a will, it is known as dying “intestate,” which means your assets will be distributed on a succession schedule. Creating a will can prevent that from happening.

What is a power of attorney?

People create powers of attorney to protect themselves, should they be unable to make certain major life decisions on their own, either due to incapacitation or otherwise not being around to sign critical documents. For example, if you are currently quarantined, you can create a power of attorney to allow someone you trust to manage your financial affairs, such as making bank deposits, handling medical records, paying bills, and more.

What is an advanced healthcare directive?

When you create an advanced healthcare directive, you can appoint someone you trust to make critical medical decisions on your behalf upon incapacitation. These are sometimes called living wills, health care proxies, or powers of attorney for healthcare. The person you appoint can obtain your medical records, determine whether you are incapacitated by your standard, decide where you wish to receive ventilators, feeding tubes, and other life-saving care, determine what medical treatments abide by your beliefs/religion, and more.

If you have any additional questions about what makes a complete estate plan, do not hesitate to reach out to our compassionate New Jersey estate planning attorneys today. We are always here to help you.

Contact our experienced Bergen County firm

At Townsend, Tomaio & Newmark, our attorneys have extensive experience helping clients to understand and protect their legal rights before, during, and after the divorce process in towns across New Jersey and Bergen County, including Hackensack, Ridgewood, Paramus, Teaneck, and Fort Lee. To speak with our team of divorce lawyers today in a free and confidential consultation regarding your concerns about your divorce, please contact us online, or through our Hackensack, NJ office at (201) 397-1750.

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