Cherry Hill NJ Probate & Estate Administration Law Blog

People who are creating an estate plan will sometimes decide that they are going to include trusts in that plan so that they can transfer assets over to their heirs more easily. This often comes with many benefits, including easy transfer and the ability to protect both the beneficiary and assets, depending on the type of trust.

One thing that some people worry about when they are creating an estate plan is turning over a lot of money to someone who might not be ready to handle the responsibility. In these cases, the grantor can choose to set terms on how the beneficiary will receive the assets from the trust. This can be through certain milestones, such as age, graduation, marriage or having children.

Estate planning is something that many adults don't want to have to think about very often. Unfortunately, there are many things that you might miss if you are trying to rush through the process. It is imperative that you take the time to think carefully about every component of the plan so that you can ensure it is what you want for your assets.

Throughout the process of coming up with the plan, you need to ensure that you fully understand what is going on. Each component must be considered individually. This is the only way that you can make sure that it accurately addresses your wishes.

When a loved one passes away, you are likely going to experience a range of emotions. This can make it difficult to think clearly and make important decisions; however, if your loved one's estate plan isn't the one that you were aware of, you might have to make a big decision now. Do you allow the estate plan to close out without alerting anyone about the issue or do you contest it?

If you are leaning toward contesting it, there are some points that you have to consider. These might help you decide what you are going to do.

• Probate litigation can tear families apart. Make sure that you are fully prepared to deal with having to cut ties with some family members. They might not understand why you are calling the estate plan into question. Some might even say that you are just being greedy.
• Be prepared for the battle. Your character might be called into question. There may be some difficult conversations about why you are contesting the will. You may have to fight to show why the current estate plan isn't the valid one.
• Your emotions might suffer. This is going to be a difficult process. Even though you feel like you are well within your rights to contest the will, you might feel a range of emotions. This can range from elated that you are taking action to upset that you are having to go through this.

It isn't easy to think about becoming incapacitated, but it is something that is very necessary. What if you are unconscious after a car wreck or suffer a debilitating condition that takes away your ability to make your wishes known? In both of these situations, you will be at the mercy of others to decide what is best for you. If this doesn't sound like an ideal situation to you, now is a good time to sit down and get your living will set.

A living will provides instructions for medical professionals about your wishes regarding specific aspects of care. You can cover as many or as few topics as you want in the document. Some of the more common are regarding organ donation, life support and resuscitation. You can also include information about intravenous hydration and nutrition, pain relief and specific treatments and tests. For example, you might not believe in the use of blood products, which should be relayed in the living will.