A last will and testament is a document with your instructions on how you want your property distributed upon your death. Who gets the house? Who gets which antiques? Who takes care of the pets? These are just some of the questions which a will answers and just some of the information we obtain to draft a solid last will and testament that can stand up in probate and prevent challenges to its validity.
Our New Jersey estate planning attorneys will review your assets and discuss with you what you want with regard to your estate. Contact us at (973) 298-4557 or online to schedule a free consultation to learn more about wills and estate planning, generally.
What is the Purpose of a Will in New Jersey?
The person creating a will is known as a testator. The testator devises property and assets to named beneficiaries. This gives testators far more control over their assets – both while they are alive and after they pass away.
As such, wills serve several important purposes including the following:
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They allow property owners to control what happens to their belongings, even after they die.
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They incentivize productivity by allowing people to distribute their property after death.
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They protect decedents' beneficiaries, including minor children, by appointing a guardian.
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They allow decedents to appoint who they want to oversee their estates.
In order for a will to work as intended, it must adhere to proper procedures in accordance with New Jersey law.
General Requirements of a Will in New Jersey
Each state's requirements of a will and what makes it valid may differ somewhat, but all states - including New Jersey - have four basic requirements:
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The testator must have testamentary intent, meaning the testator subjectively intended to create the will.
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The testator must have testamentary capacity, meaning that they understood they were creating the will at the time of its execution.
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The will must have been executed without the interference of fraud, duress, undue influence, or mistake.
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The will must have been properly executed (e.g., signed in the presence of two witnesses).
Intestacy: The "Default" Method if You Die Without a Will in New Jersey
If someone dies without a will, this is known as dying "intestate." Should a person die intestate In New Jersey, state law dictates how their property will be distributed. There are key reasons to create a will, rather than relying on intestacy laws to devise your property.
Intestacy laws aim to pass property in a way that most people would want it to pass. This basically means any property is distributed to immediate family members first, such as the decedent's spouse and children, then parents, siblings, grandparents, and further degrees of relation. The problem here is that if the decedent has stopped a relationship with a family member, that may not be taken into consideration when the state steps in to disburse assets. This could result in property, or even the custody of a minor child, passing to a relative whom you would not wish to be a beneficiary and/or guardian.
The Risks of “Do-It-Yourself” Wills in New Jersey
The expense and lack of control that comes from dying intestate, coupled with the perceived costs of hiring a lawyer to write a will, has led to an increase in the use of “do-it-yourself” wills. These forms, often found online for a fee, claim to be just as good as a traditional will prepared by an experienced attorney.
These "one-size-fits-all" documents, however, are not tailored to your unique circumstances. The process to create a DIY will is often accompanied by mistakes that open the door for challenges to the validity of a will upon your death. In fact, a court may disregard the will completely.
Contact a New Jersey Estate Planning Attorney
At Mongiardo Law Group, our estate planning attorneys are here to guide you through the complexities of estate planning. We know how hard you worked for your assets, and we understand why it is so important to distribute your assets in the way you see fit to do so. Contact Mongiardo Law Group today at (973) 298-4557 or online to schedule a free consultation.
