Do I Really Need a Will?
Passing away without a Last Will and Testament is called Intestate. New Jersey’s intestacy rules will determine who will inherit your assets. What your loved ones think you would have wanted or what you may have told them you wanted one night at the dinner table wouldn’t matter.
Not having a Will all too often creates complications and fighting among your loved ones due to several different individuals believing they should administer your estate. This happens all too often even to the most closed knit family especially when all are still grieving. You need a plan, especially for them.
Having a Will makes the entire process incredibly easier, faster and less costly. In your Will you may direct that your Executor may serve without Bond. This means your estate does not need to be insured which could be expensive. Without a Last Will and Testament only a spouse may serve without Bond.
Why Can’t I Just Do My Own Will?
Estate planning can be complex, and it’s always a good idea to consult with an experienced attorney who specializes in estate planning to ensure your specific needs are met. Laws can vary by jurisdiction, so discussing your situation with a local professional is essential.
Do not use DIY websites. By doing your own Will you run the risk of the Surrogate’s Office and the Probate Court rejecting it. New Jersey requires certain formalities for Last Will and Testaments being approved and these rules are constantly changing.