Some level of sibling rivalry exists in most families. New Jersey readers may identify with one sibling believing that the brother or sister always received more attention, more money and nicer clothes. Such feelings can resurface upon a parent's death, and it is not uncommon for one sibling to contest a will that leaves more to the other sibling. In many cases, the "favored" child is appointed as the administrator or executor of the estate. Sometimes, parents fail to keep sibling rivalry in mind during their estate planning.
New Jersey couples that want to ensure that their marriage will revolve around a loving union rather than material assets may find that a prenuptial agreement could ensure the peace of mind required to focus on their relationship. Although a prenuptial agreement may sound very unromantic, couples that get married for a second or third time may use such an agreement as part of their estate planning. This is especially true when an older person with considerable assets plans to marry someone who is much younger.
A will generally protects someone's assets in the event of their death. Sometimes, a will may require New Jersey family members to go through probate litigation for the distribution of assets. As emotional as this is, there are circumstances where this is necessary and beneficial.
New Jersey residents who are unhappy with their children may end up leaving them out of their will. This can cause a rift to form in families and lead to lawsuits, dragging out the probate process. While it is up to an individual to determine who gets what once they pass on, it may be a good idea for people to really think about the impact disinheriting a family member will have.