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McCurrie McCurrie
& McCurrie, L.L.C.

680 Kearny Avenue
Kearny, NJ 07032-3010
Phone: (201) 467-4180
Fax: (201) 997-9567
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Estate planning comes with important decisions in New Jersey

Thinking about an untimely event that could leave a person unable to take care of future affairs may not be the most uplifting activity to some New Jersey residents. However, estate planning could allow an individual peace of mind knowing that if an incident was to occur in which they were killed or otherwise incapacitated, their affairs would be in order. Drawing up wills and selecting an agent to carry out wishes may seem daunting, but reliable information could help.

Many individuals wish to give the power of attorney for their estate to a very trusted person, typically a family member or close friend. This person would be allowed to make certain decisions while a person was unable to make decisions for him- or herself. They would likely have access to checking accounts that would allow them to handle any necessary expenses that could arise while a party is incapacitated.

Having the power of attorney could also result in the ability to make modifications to a living trust, if it was the wishes of the trust holder. Typically the trust holders would be able to make modifications themselves, but if the holder is suddenly unable to carry out that task, the party with the power of attorney could make the change. Because the position is one of significant responsibility, individuals need to be certain that the individual they choose is ready for such responsibility and is trustworthy.

Estate planning decisions can, indeed, be complicated ones to make. Therefore, it is highly important that an individual understands what different areas of their planning entails. Information on New Jersey state laws dealing with such planning could allow a party to gain reliable knowledge on the topic and possibly make the decision making process run more smoothly.

Source: Lake County News, Estate Planning: Harmonizing the entire estate plan, Dennis Fordham, Dec. 28, 2013

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