Most people imagine an estate plan as a single document — a will signed at a kitchen table. In practice, a good estate plan is a small collection of documents that work together, designed to be updated as life changes. Here's what we build, and why.
What goes in a will
A will names the people who will receive your assets, the guardian for any minor children, and the executor who will carry the plan out. It is the foundational document. It is also the document most New Jersey adults either lack or have not updated in a decade.
Why a trust is sometimes better
A revocable living trust does what a will does, and more — it can avoid probate, protect assets inherited by your children, and provide for a beneficiary with special needs. Not every family needs a trust. The honest conversation about whether you do is one we have weekly.
“No writing equals no rights. The consequences of not putting your wishes in writing are too expensive to leave to chance.”
Powers of attorney, explained
A durable power of attorney lets someone you trust handle your finances if you can't. A healthcare proxy lets someone you trust make medical decisions on your behalf. Both work while you're alive. Without them, your family has to go to court to do what you would have asked them to do anyway.
Updating your plan
A plan written in 2010 reflects a 2010 life. Marriages, births, deaths, divorces, new homes, new jobs, retirement accounts that have quietly grown into something serious — any of these is a reason to revisit the documents. We recommend a review every five years, or after any major life event.