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Wills, Trusts, and Estate Planning

Estate planning allows you and your family to organize your current assets and plan for your future. If you are new to estate planning, let us guide you in finding which estate planning documents you might need. If you already have estate planning documents, we can assist you in reviewing your current documents to make sure that everything is up to date, and most importantly, still in alignment with your wishes. The most common estate planning documents that we can help you create are:

Last Will and Testament: This document can be thought of as the foundation of your estate plan. A Last Will and Testament, or more simply known as a Will, is a versatile document. With a Will, you can do the following: choose who your property will go to, choose a guardian for your minor children, and designate someone to take care of your personal and financial affairs after you pass away.

Trust: A trust can be a very useful estate planning document for some people. There are many different types of trusts, and each accomplishes something unique. The most common types of trusts are used to pass on wealth to future generations and protect assets from unusually high tax consequences.

Advance Directive: The Advance Directive comes in many different forms and goes by many different names. You may have heard it referred to as a Health Care Directive, a Health Care Proxy, a Living Will, a Personal Directive, or any combination of these terms. The Advance Directive is a unique document that speaks for you when you cannot speak for yourself in certain medical situations. The Advance Directive allows you to make your health care wishes known by putting them in writing. You can also designate a health care agent, who will make health care decisions for you should you become incapacitated.

Durable Power of Attorney: A Durable Power of Attorney is another estate planning document, like the advance directive, that allows you to designate an agent to carry on your personal and financial affairs if you become incapacitated and unable to do so yourself.

Codicil: A Codicil is a quick and easy way to edit your current Will. Instead of drafting an entirely new Will, the codicil acts as an amendment to your Will. With a codicil, you can add to, delete, and modify any part of your existing Will.

Click here to learn more about the basics of estate planning. This link will take you to our article titled “What is Estate Planning?”

Ahmad Law Offices

187 Millburn Avenue
Suite 103
Millburn, New Jersey
p: 973-346-7560
f: 973-346-7561

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