Creating a will in New Jersey: Things to know
Life is unpredictable – The ongoing Covid-19 pandemic is a fair example. While we cannot predict the future, we can always prepare for it. A Will is a document that allows you to specify how your property and assets will be distributed when you are gone. A will is different from a living will. The latter is more of an “advance healthcare” directive. Talking to an estate planning lawyer in South Jersey can help you determine the right steps for creating a will. Below are some of the key aspects worth knowing.
How to create a will?
If you have hired an attorney for estate planning, they will typically take care of the entire process. The first step is to decide what you want to include in your will, such as assets and properties. Next, you must decide on inheritance. You can decide to give your hard-earned assets to anyone you like. The third step is to choose an executor for your estate. If you have minor children, you must choose a guardian and someone to manage your children’s property until they grow up. Once you are done creating your will, you need to sign in front of witnesses. As long as these steps are followed, your will remain a valid estate planning document. In New Jersey, you don’t have to notarize your will, unless you want to create a “self-proving” will.
Do you need an attorney?
Estate planning is a complex process, and you wouldn’t want to create a document that would eventually create problems for your loved ones. There are certain circumstances that also demand the expertise of an attorney. For instance, if you have reasons to believe that your will might be contested, you should speak to an attorney first.
How to revoke a will?
You have the right to revoke a will as you want. You can do so by canceling, tearing, or burning your will. If you create a new will that mentions that it revokes the previous one, the old will becomes invalid. If you want to make minor changes to your will, you can create a document called the codicil. The best idea is to revoke the existing will and draft a new one.
Get an attorney to explain the impact of your estate planning decisions. They will also take care of the paperwork and can offer valuable advice to avoid unwanted mistakes.