Last Will & Testament
Benefits of a Last Will and Testament
A properly prepared Last Will and Testament allows an individual to:
- Specify who will receive their assets and how those assets will be distributed (without one, New Jersey’s intestacy laws make these decisions)
- Appoint an executor to oversee the management of their estate
- Designate guardians to care for their minor children
- Select trustees to manage assets for minors or beneficiaries with special needs
- Reduce costs, minimize delays, and decrease the likelihood of family disputes
- Avoid the requirement for costly surety bonds in many situations
Handwritten (A/K/A holographic) wills and DIY wills
A handwritten will may be valid if the signature and key provisions are in the testator’s handwriting. A handwritten will must be probated in Superior Court, which is significantly more expensive and time consuming. A typed, properly executed Last Will and Testament is strongly recommended.
A Last Will and Testament is one of the most important legal documents you will ever sign. While low-cost templates may be available on the internet, professional guidance is strongly recommended.
Requirements for a Last Will and Testament in
New Jersey
- The individual must be at least 18 years old and of sound mind.
- The Last Will and Testament must be in writing and signed by the testator.
- At least two witnesses, each at least 18 years old, must observe the signing.
- Most modern Wills include a “self proving affidavit,” signed before a notary or attorney. This eliminates the need for witnesses to appear during probate.
Distribute your assets
Specify who should receive your property, money, and personal belongings.
Choose beneficiaries
Name the people or organizations you want to inherit from your estate.
Name a guardian for minor children
Lets your agent make medical decisions if you are unable to do so.
Appoint an executor
Choose someone you trust to manage your estate and carry out your wishes.