Call To Schedule An Appointment
Cherry Hill856-673-0048

Estate planning a necessity for everyone

Recent and upcoming legislation will make changes to estate taxes. The proposed changes will impact taxes connected with individual estates. However, those changes don't alter the fact that there are millions of people who die each year without having the basic documents in place to protect their families. It is so important for New Jersey residents, regardless of age, to consider even the basics of estate planning by having a will in place.

While establishing an estate plan is often something that mature adults create as they get older. It is also an important task for "new" adults.

College students generally do not take into consideration the possibility of becoming incapacitated. They are generally busy embracing the advent of adulthood and their first taste of freedom. The problem that some young adults encounter is that if they are hospitalized they may not have anyone designated to make important health care decisions for them.

A health care proxy, also called a health care power of attorney, is a useful document that will allow young adults to designate someone to make these important decisions should you be unable to do so. The power of attorney is an essential part of every estate plan.

Young, unmarried adults may not think that they are in need of estate planning since they feel they don't have any assets. Few realize that a 401(k) or a life insurance policy at work will need a beneficiary designated.

Single-parenthood is becoming more prevalent in today's society. Parents should consider naming a guardian for your children. If a guardian is not named it is up to the court to decide who will raise your children.

There are many important milestones throughout an individual's lifetime. With each event, it is equally important to ensure that an estate plan is created or amended to account for the changes. Marriage, divorce, birth, death (and yes, even taxes) are all events that New Jersey residents face each day. A well-thought out estate plan can anticipate the what-if scenarios, so those special moments can be enjoyed to the fullest.

Source: Forbes.com, "The Real Estate-Planning Crisis Isn't About Taxes," Deborah L. Jacobs, June 27, 2012

No Comments

Leave a comment
Comment Information
Law Offices of Nancy M. Rice
Representing clients in Ocean City and communities throughout New Jersey.


Rice & Quattrone, PC
1236 Brace Road, Suite F

Phone: 856-673-0048
Fax: 856-673-0052
Map & Directions

Rice & Quattrone, PC
Linwood Professional Plaza
2021 New Road, Unit #9
Linwood, NJ 08221

Phone: 609-398-3447
Fax: 856-673-0052
Map & Directions

Cherry Hill Office

Contact the firm

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy