There are many ways to prepare for the future. One of the best methods is to have a will professionally drafted. A will may just look like a piece of paper, but in the right hands, it can change the lives of loved ones in New Jersey when properly executed. Estate planning can minimize disputes over the distribution of all aspects of wealth and property that are left behind after someone passes away.
There may still be heirs or beneficiaries that could contest the will for any number of reasons. From wives or ex-wives to children of the diseased, everyone feels that they are entitled to something. Although there may not be a way to ensure that no one will contest a will, a clause stating that if anyone does contest the will, that person may forfeit what they were supposed to have inherited. Such a clause would work best if it was in the handwriting of the maker on the original document In order to leave no room for interpretation.
Choosing what kind of will works for a particular person is an important decision. The kind of will a person chooses could depend on many factors such as determining how many people will receive specific bequests to who will be acting as executor of the will. No matter what type of will a person chooses, it is necessary to have a will. Without one, the state will have the power to determine who will receive a decedent’s assets upon his or her death.
After the drafting of a will is done, it must be executed in accordance with New Jersey law in order to be valid upon death. As a general estate planning rule, a will must be signed in front of at least two people to act as witnesses. To ensure that the will has more weight when contested, it may also need to be registered or recorded. A will may be changed or updated when desired, but it should be noted that only the most recently dated and properly executed will can be used under New Jersey law. It may be a good idea to have advice and assistance before drafting and executing a will in order to be sure that the wishes of the person making the will are carried out.
Source: business-standard.com, Where there’s a will, there’s no trouble, Yogini Joglekar, Sep. 2, 2013