Wills
A will defines after death, how you want your assets disbursed. You may include any persons or organizations in the document. Instructions for how and when you would like your assets allocated, as well as who should be the executor (person in charge) once your deceased are necessary. A will can include information on guardianship, which should be mutually agreed upon prior to your death. A guardian might be required to take care of and make decisions about other family members. An executor of your personal wealth and property must understand their responsibilities' regarding the disbursement and or maintenance of your assets after death. A will should be periodically reviewed, especially in the advent of a divorce and or remarriages. Certain guidelines apply that can be discussed during your initial visit with the Stempler Law Firm.
Trusts
A trust holds assets that will be disbursed according to the guidelines set forth by the settlor. It can be assessable to its beneficiaries either while the settlor is alive or after death. In most circumstances a trust is irrevocable unless authorized by the settlor. There are two types of trusts, an inter vivos trust (living trust) and a testamentary trust, which is enforceable upon death.
In general it is imperative that you discuss your individual needs with an experienced Estate Planning Attorney. As you life circumstances change, modifications are required. For a consultation please contact our offices at 973-882-9300
Stempler Law Center provides qualified legal counsel and representation to residents of West Caldwell, New Jersey, and communities across North Jersey including Newark, Clifton, East Orange, Wayne, Parsippany, Bloomfield, West Orange, Montclair, Livingston, Maplewood, Summit, Montville, Pinebrook, Millburn, Short Hills, South Orange, Springfield, Verona, Caldwell, North Caldwell, Fairfield, Roseland, and Whippany, New Jersey (NJ). We practice primarily in Essex County, Union County, Hudson County, Passaic County, Bergen County, Monmouth County, Middlesex County, and Morris County.