Creating Wills And Trusts That Fit Your Needs
For years now, trusts and wills have been a hot topic on news programs and in magazines. At Campbell & Pruchnik, LLC, in Jackson, we believe exotic and complicated estate planning methods are of little value to most people.
Instead, we focus on helping our clients achieve a practical solution for their specific needs. There are many good reasons why you may want a trust or detailed will, but it is important to fully review your needs and options before making a major decision. We can help you match your estate plan to your goals.
What Does A Will Provide?
When a person dies, the default estate administration process is probate. Unfortunately, probate can be stressful and lengthy for the decedent’s beneficiaries. Probate distributes assets according to intestacy laws, which might not reflect the decedent’s true wishes.
Therefore, having at least a will is important; you can increase control and protect your assets. A valid will can replace the process of probate, which then allows the correct beneficiaries to receive the correct assets — often with significantly less waiting.
In some cases, a simple will is the most suitable choice for basic estate planning needs. However, if your estate calls for unique protection, you may choose a complex will. Our estate planning lawyers can help you plan a complex will around estate taxes, special family circumstances, business ownership, high-value assets and more.
Do You Need A Trust?
Unless you own an extremely large estate, the complications and expense of establishing many trusts outweigh any benefits they can provide. This does not mean most people cannot benefit from any type of trust.
If you have a child who is younger than 18 years old, for example, a minor trust may be right for you. A minor trust is a simple, inexpensive and effective way to protect money designated for your child’s education, living expenses and other needs if you die or become incapacitated.
Trusts like these can protect, preserve and reserve money for specific purposes without requiring extensive or expensive upkeep. Our experienced trust lawyers can help you create and maintain a trust or to implement other cost-effective planning tools.
We Will Guide You With The Right Answers
No matter how simple or complex your personal and financial circumstances may be, you can count on fair treatment and honest counsel.
Our New Jersey attorneys are ready to answer your questions and discuss your concerns about a will, power of attorney, trust or another estate planning option. To schedule a initial consultation, contact us online or call 732-994-6092.