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Wills and other estate planning tools provide peace of mind

Each day life changes for people all across New Jersey. Unexpected medical diagnoses put into question futures once assumed as certain. Accidents cut short lives entirely too soon. New lives begin and families grow as births bring uncertainty to established familial norms.

Not everything in life can be planned, but some aspects of life can be protected. Estate planning is an effective way for individuals to prepare for the future and to protect those that they love. Wills, trusts and other estate planning tools can guard wealth while providing security for those who stand to inherit it.

An effective estate plan can shelter accrued wealth into tax-protected funds. This can save an estate thousands of dollars at the end of a person's life and can help the survivors of an individual keep the decedent's estate out of probate court. When wealth is not subject to an estate plan it can be significantly diminished through the imposition of an estate tax.

Wills and other testamentary devices can provide parents of minor children with ways to establish guardianship for their kids. When children are orphaned or their parents lose the capacity to take care of them, wills can direct courts on how the parents' planned to have their kids raised. Without such guidance, courts can decide where to place children, even if those determinations run against the wishes of the kids' parents.

Finally, an estate plan can give a person the opportunity to lay out his wishes for any medical care needed at the end of his life. When a person cannot speak for himself, his estate planning documents can advocate his desires. This can help family members make decisions about a loved one's end of life care.

There are many reasons to prepare an estate plan outside of ensuring that family members receive some inheritance. The attorneys of the Donnelly Ritigstein Law Offices work with clients hoping to achieve just these estate planning goals. To learn more about estate planning, please visit the firm's website on wills and other testamentary devices.

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