Estate planning is one of the most important legal actions you can take in life. Despite the importance millions of people fail to plan their estate before it's too late. That's why so many people pass away without a will, leaving their assets to be divided by the courts. Today, we will discuss the reasons why it is important to have an estate plan in place in Jackson, New Jersey.
If you are a parent of an adult child who relies on Supplemental Security Income (SSI), you probably worry about their future. They may have a disability which has made life difficult, and it's only natural to be concerned about their care and their life after you are gone.
When you create a trust to protect your real estate holdings, it is important to carefully consider all the steps necessary to properly fund it. If you do not fully fund the trust, you not only waste the resources you invested to create it in the first place, you also may miss out on the important legal protections trusts provide.
When people hear the word estate, they tend to think of the wealthiest people in the country. When you combine that word with planning, many younger people think that estate planning is simply something for the wealthiest to do in an effort to avoid taxes upon death. This cannot be further from the truth. Estate planning is a group of legal documents that get your affairs in order prior to your death.