Estate Planning Lawyer in East Brunswick

What Is Estate Planning?

To better understand what goes into estate planning, you should first be aware of what constitutes an estate. Practically everyone in the world has an estate that has at least some value to it. 

This estate refers to anything in your possession at the time of your death, including:

• Personal property, such as artwork and vehicles
• Stocks and a wide range of other securities
• Real estate
• Any bank accounts in your name
• Your life insurance policies

People who don’t have an estate plan in place won’t have direct control over how their assets are handled upon their death. However, creating an estate plan allows for exact control over the smallest details regarding your entire estate. Whether you want to transfer all your assets to your heirs and other beneficiaries or would prefer to place these assets in certain charities, a well-realized estate plan provides you with the ability to carry out these wishes. 

Primary Components of Estate Plans

Estate plans can comprise a wide array of different documents and items that determine how a person’s assets and property are handled after their death. The primary aspect of most estate plans is a will or living trust, a document designed to distribute property according to the individual’s wishes. Beneficiary designations can also be made through an estate plan, which is designed to identify who will be the beneficiary of your will. A power of attorney designation can be made through an estate plan as well, which gives someone full control over what happens to your property and assets if you’re unable to make these decisions. Other components that can be included in estate plans extend from letters of intent to guardianship designations.

Call Us for a Consultation Today

If you want to be certain that your wishes regarding both healthcare and your property will be honored once you’re gone, call Alguram Law Group now at (732) 538-7904 so we can help you create a plan that’s right for you.

Or request an appointment with our East Brunswick estate planning attorney through our convenient online contact form.