Legal Question in Wills and Trusts in New Jersey

It depends on your circumstances. Trusts are not necessary to save the money that probate costs, because probate is not an expensive process in NJ. There are other states where it is.

Only a consultation with an estates lawyer could provide advice about forming a trust or not.

When you have a will prepared, it is also important to have a power of attorney, health care directives and a health care power of attorney.

THIS RESPONSE IS NOT LEGAL ADVICE, SINCE I DO NOT HAVE ALL OF THE INFORMATION THAT WOULD BE REQUIRED, AND I DO NOT HAVE A REPRESENTATION AGREEMENT WITH YOU.

* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.

* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern.

It does not matter where you live, you need a Will and Estate Plan. Sometimes a living trust is needed. It depends solely upon your circumstances. The most important thing is to actually get moving. Make and appointment with your tax and estate attorney and get a Will prepared. Don't wait.

I hope this helps!

Ron Cappuccio

www.SaveYourEstate.com

(856) 665-2121

I agree with the other authors. There are many reasons, besides potential savings of probate fees, to do a living trust. These could range from ease of continuity of asset administration, by having a trustee immediately step in, to potential death tax saving and asset protection from creditors, to possible income tax savings. Decisions as to the type of trust, revocable or irrevocable, should be discussed with an estate planning expert. If you need assistance, contact me directly.