As you engage yourself in the process of estate planning in earnest you would do well to recognize the fact that there are choices that must be made with regard to vehicles of asset transfer. Depending on your resources, your intentions, and your family dynamic any number of different approaches may be appropriate.
This can sometimes get complex for some individuals. However, the ideal solution exists regardless of your circumstances, and putting together the perfect packages for high net worth individuals is what quality estate planning lawyers do for a living.
For others the matter is simpler. After examining your personal situation your attorney may tell you that your best option is to utilize either a last will or a revocable living trust.
If you hear all the facts and decide to use a living trust you are still going to have to execute a will that is called a pour-over will. Most people are going to pass away in possession of some resources that they did not place into the trust. With a pour-over will you state your decision to have the property that you personally own at the time of your death “poured over” into the trust.
Should you be interested in learning all the details with regard to the various options that you have simply take action right now to arrange for an appointment with a good central New Jersey inheritance planning lawyer. Your attorney will answer all of your questions, and if you want to go forward he or she will assist you as you devise the plan that is optimal given your unique situation.
Latest posts by Alan Augulis, Estate Planning Attorney (see all)
- Trust Administration 101 for the First-Time Trustee - August 23, 2018
- Do I Need a Medicaid Planning Attorney? - June 11, 2018
- Can an Incapacity Planning Attorney Help Me Plan for the Possibility of Alzheimer’s? - May 1, 2018