One of the most thoughtful acts that an older person in New Jersey can take part in for his or her family is to relieve them of the stress and heartache that comes with having to figure out their dying wishes. Estate planning is not always comfortable for the person doing it, experts say, but that’s why it’s such a valuable gift to one’s family.
The central idea in doing one’s own estate planning is to keep loved ones from financial distress that comes from wondering what will happen to family assets. Planning for one’s own death is also a way to express peace and serenity with the inevitable. This may help family members better cope with one’s passing as well. Experts say that a third reason to do one’s own estate planning is ensure their wishes are known and honored. This allows everything possible to go smoothly and families to focus on emotional healing after an elder passes.
Yet another reason, cited by experts, to take care of estate plans before one is incapacitated by illness or injury is that legal fights over assets can be costly, stress-inducing and ultimately emotionally damaging. A thoughtful elder who has all the necessary documents already in place will save his or her family the need for a guardianship, a legal situation that can cost thousands of dollars.
Estate planning in New Jersey is an important method for distributing the assets of a loved one after their death. An attorney experienced in preparing estate plans may be able to help families avoid a will contest or other unpleasant legal maneuvers.
Source: Daily Finance, “Documents that should be part of everyone’s estate plans”, Andrea Murad, September 05, 2013