Legal Question in Wills and Trusts in New Jersey
New Jersey wills, $2 million max net worth
You offer a will that good for estates under $2 million. Suppose that at death the estate has appreciated to more than $2 million. Is the will still valid?
2 Answers from Attorneys
Re: New Jersey wills, $2 million max net worth
Any Will properly written by a competent person and properly signed and witnessed is valid, regardless of the estate size. What you are confused about is the possibility that a Will written to accomplish estate planning results for a particular size estate may not accomplish the same results if the estate size differs at the date of death. The Will is valid, what ir tries to accomplish is no longer available. This is why, in changing tax situations, people go to estate planning attorneys who try to accomplish the best results, regardless of how the estate may grow in the future. Other documents may be needed to accomplish the tax results if it is expected the estate will increase in size over time.
If you need more information or if this represents your situation, contact me directly.
Re: New Jersey wills, $2 million max net worth
Good ESTATE PLANNING uses all of the tools needed to help you direct your assets upon death. When someone calls asking "how much does it cost for simple Will" I try to educate them concerning the PROCESS of Estate Planning. Taxes, disability, and personal preferences are all taken into account.
I hope this helps!
Ron Cappuccio
http://www.SaveYourEstae.com