Monmouth County Estate Planning Lawyer Christine Matus Explains the Five Different Types of Wills in New Jersey
May 23, 2022 at 16:22
Monmouth County estate planning lawyer Christine Matus releases a new article (https://matuslaw.com/5-different-types-of-wills/) explaining the five types of New Jersey wills. The lawyer mentions that a Will is very common in estate planning. A Will allows testators and executors to record their final wishes, and then outline how they want their assets divided and distributed among their heirs.
According to the Monmouth County estate planning lawyer, “There are many types of Wills, each with its own benefits and drawbacks. There are many estate planning options available to you. This is perhaps one of the most important legal documents you’ll draw up in your lifetime.”
The lawyer lists the five types of Wills in New Jersey. These are Simple Wills, Pour-Over Will, Holographic Will, Deathbed Will, and Reciprocal/Joint/Mutual Wills. Attorney Matus explains that a simple will, or statutory will, is usually used for small estates. Simple Wills are also easy to make.
In the article, attorney Christine Matus discusses what a Pour-Over will is and why it is important. This type of Will can be used to make assets accessible to the living trust. A Pour-Over Will can be used to transfer any property still in the hands of the testator at the time of their death to the living estate. The beneficiaries may be distributed by the living trust.
Furthermore, attorney Matus mentions another type of Will which is the Holographic Will. This type is not witnessed by another person. Only a few states recognize this type. Estate planning lawyers generally do not recommend it. A holographic Will is written in the original handwriting of the decedent, and dated and signed off by the testator.
The estate planning lawyer also adds two more types of Will to the list. These are the Deathbed Will and the Reciprocal or Mutual Wills. A deathbed Will is an oral Will that is typically spoken by the decedent shortly prior to passing away. A reciprocal Will or mutual Will is a type of Will that grants the entire estate to the surviving spouse.
Lastly, the lawyer emphasizes the importance of having a skilled estate planning attorney when it comes to matters like Wills and Trusts. Having an experienced attorney may be able to help the client plan their future and decide how they want their family members to be provided for. A comprehensive estate plan is important in order to ensure that the assets are distributed fairly according to the client’s wishes.
About the Matus Law Group
The Matus Law Group has a team of estate planning attorneys who are committed to helping families and individuals in real estate transactions in New Jersey and New York. Through a team approach, they work hard to help their clients with their estate planning needs. Call The Matus Law Group today at (732) 785-4453.
The Matus Law Group
125 Half Mile Rd #201A, Red Bank, NJ 07701
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Matus Law Group - Monmouth County
125 Half Mile Rd Red Bank, NJ 07701