Wills & Estate Planning
Why Do I Need a Will?
We all know we need wills. For some of us, our main concern is who is going to take care of our children if something happens to us. For others, we want to make sure our assets go to our intended beneficiaries. Still others want to save money on taxes, court costs and fees, and ensure the least amount of familial strife after our deaths. Similarly, you can protect assets against future mental or physical incapacity and the catastrophic costs of long-term medical and nursing care.
Without a Will, the State of New Jersey will decide who will raise your children and who will receive your assets.
How Does The Planning Process Work?
Every Client is different. At BMC we ensure that your Will and Estate Plan are tailored to your particular needs and wishes. In the first meeting, one of our BMC attorneys or paralegals will talk to you about what you want to accomplish through your Will and Estate Plan, and review the assets you have in your Estate. We will also advise you as to the various New Jersey and Federal estate planning devices that are available to help you reach your goals. It is our job to then create and execute the plan based upon our consultations and conversations with you.
We also have relationships with financial planners and advisers, accountants, and tax litigators to ensure that no matter what your particular Estate situation may be, we can handle it at BMC.
What are the specific documents you can create for me?
We have various options at our disposal to implement your Will and Estate Planning goals. Specifically, we can create:
- Last Wills and Testaments
- Durable Financial Powers of Attorney
- Advance Medical Directives
- Revocable and/or Irrevocable Trusts
- Insurance Trusts
- Charitable Remainder Trusts
- Minor’s Trusts – Spendthrift Trusts
- By-Pass or Credit Shelter Trusts
- Marital Trusts (QTIP)
- Grantor Retained Annuity Trusts or Grantor Retained Uni-Trusts
- Qualified Personal Residence Trusts
- Planning for Disabled Children
- Life and Long-term Care Insurance
- Gifting Strategies
- Business Succession Planning
- Family Limited Partnerships
- Pre-Nuptial Agreements
What’s in a Will?
With a will, you can: (1) direct where and to whom your estate will go after your death; (2) make the administration of your estate much easier for your heirs; (3) choose the person to administer your estate and distribute your assets according to your wishes; (4) minimize estate taxes; and (5) appoint a guardian for your minor children.
Durable Powers of Attorney
The durable power of attorney is a very important estate planning instrument that is effective during your lifetime, before your will takes effect at your death. To learn more about how BMC can help you create a Power of Attorney, please CLICK HERE.
Advance Medical Directives
An advance medical directive allows you to: (1) give instructions to medical providers concerning your care if you are terminally ill or in a vegetative state, and (2) choose a medical agent to make health care decisions for you if you are unable to do so yourself.
How do I get started?
To get started, you can do one of three things:
1. Fill out the contact form on the right;
2. Give us a call at 908-236-6457; or
3. Email Alec Borenstein, Esq., at email@example.com.