New Jersey Estate Planning Attorney Christine Matus Explains What Happens to Assets That Are Not Put Into Trusts
New Jersey estate planning attorney Christine Matus releases a new article (https://matuslaw.com/estate-planning-attorney/) on her website that explains what happens to assets that are not put into trusts. The lawyer mentions that these days, it is important for an individual to have a comprehensive estate plan in order to protect their future as well as their loved one’s future.
“When you have worked your entire life to build a safety net for yourself and your family members, you want to protect it and make sure it is administered according to your wishes when you are gone,” says the New Jersey estate planning attorney.
The lawyer explains that estate planning allows an individual to make important decisions about their future now. Assets may be subject to tax, lengthy processes, and fees if there is no estate plan in place. Assets may also be distributed against the owner’s wishes. This is why it is important to have an estate plan that will protect the person’s legacy.
Attorney Christine Matus mentions that there are five essential estate planning documents in New Jersey. These documents are namely a Will, a Durable Power of Attorney, a Healthcare Power of Attorney, a Living Will or Advance Medical Directives, and a Revocable Living Trust. The lawyer mentions that with these documents, an individual may be able to find an estate plan that would suit them best.
In the article, attorney Matus also says that if assets are not put into trusts, real estate properties and funds will be subject to the probate process. For the family or the trusted individual of the person who passed away, this could mean more fees, more court time, and a longer duration of the whole process.
Furthermore, attorney Matus enumerates the six common mistakes that people make when they’re planning their estate. She mentions that procrastination, oversight, and legal missteps can affect and diminish the value of the assets and add stress to the surviving loved ones. The important mistakes one should avoid according to attorney Matus are not having an estate plan in place, having an outdated will, and making children the joint owners of the assets.
Lastly, attorney Matus emphasizes the importance of having a skilled estate planning attorney when it comes to matters such as drafting a will or putting assets into trusts. Having an experienced lawyer may be able to help the client understand their rights and ensure that their legacy is protected.
About the Matus Law Group
The Matus Law Group has a team of estate planning attorneys who are committed to helping families and individuals in real estate transactions in New Jersey and New York. Through a team approach, they work hard to help their clients with their estate planning needs. Call The Matus Law Group today at (732) 785-4453.
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Matus Law Group - Monmouth County
125 Half Mile Rd Red Bank, NJ 07701