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Don't deplete your wealth through probate mistakes

It seems that many people work their whole lives just to retire and live off of their hard-earned savings. For those New Jersey residents who are fortunate enough to have some money left over when they reach the ends of their lives, it can be a kind gesture to leave remaining wealth to the people and causes that the decedents loved while still alive. Though any post-death bequest may be appreciated by a recipient, individuals can take estate administration steps to ensure that the value of their wealth is maximized after they pass on.

Probate is the process through which a person's estate passes after the person dies. The probate process can take months or even years depending upon the complexity of the estate and whether any heirs of the decedent choose to challenge the testamentary documents applicable to the estate. It is during probate that costs, fees and taxes, including the inheritance tax, are applied to the value of the estate.

What may have started as a robust estate before probate may dwindle to a less sizable sum at the end of the legal process. Making good decisions about one's estate prior to probate can help protect estate wealth and therefore the gifts a decedent's heirs may receive. The attorneys of the Donnelly Ritigestein Law Office can help people understand and work through these important considerations before they damage their estate's value.

From establishing trusts to writing an effective will, our firm serves clients throughout Moorestown and the surrounding area. Your estate is your legacy and vehicle for providing for your loved ones after you pass on. Our firm can help people protect their wealth and create an effect estate plan for the future. To learn more about our estate planning and estate administration practice, please visit our website on matters related to probate.

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