In most states, spouses can purchase and own property separately from one another. However, in community property states, if one spouse purchases property, it is the property of both spouses. This has implications for both estate and tax planning.
ATTORNEYS CAN HELP:
- Create an individual estate plan to preserve your assets for you and your loved ones.
- Apply for Medicaid and VA benefits to cover the costs of long-term care.
- Navigate through the maze of government rules and regulations.
Contrary to popular belief, estate planning in Franklin Lakes, NJ is more than just having a will. It is concerned with the disposition and administration of a person’s assets during his or her life and in the event of incapacity or death. It is intended to protect your assets not only during your life, but during the lives of your spouse, your children, and grandchildren. A good plan is multigenerational and ensures that everything you have worked for all your life is not wasted or lost after you pass.
While end-of-life planning can be full of difficult and delicate choices, at Willis Law Group LLC, we help you navigate through the complexities of the process and ensure that the plan you have will actually work.
You have worked hard all of your life for what you have. Let us work hard to protect it. We will ensure that your wishes are respected and your estate planning goals are met. Every Franklin Lakes, NJ client is unique and we take an individualized approach to develop an estate plan that is specific to you and your individual requirements. We will perform a thorough analysis of your health care, financial, and personal needs, as well as those of your spouse and children. We will ensure that your assets are properly allocated and your plan will work according to your wishes, because your family may still need your help even when you are no longer with them.
We encourage you to consider estate planning early. Waiting too long, or until an emergency arises, may prevent you from having enough time to adequately safeguard your life’s work and preserve your legacy. With our estate planning services in Franklin Lakes, NJ you will have peace of mind knowing that everyone you hold dear is protected.