It is necessary to start by stating what the law requires from all New Jersey residents regarding the last will and testament. First, the law doesn’t compel you to write a last will. However, it has a say over how you write it and how your executor executes it. Thus, it’s prudent to be on the right side of the law. However, it’s still highly beneficial to write a last will before your death because it benefits those you love and want to inherit your assets.
You can use this document as a planning tool that ensures your assets remain within your family business. Suppose you are a business person with a family business empire. In that case, the last will lets you plan with finality what dimension or division of your business dynasty remains among your descendants.
Documenting the last will saves your family from the “mercy and discretion” of the state. The reason is that when you die without a will, the state has a legal obligation to oversee your estate’s distribution. The problem here is that it will never distribute your assets the way you would have wished. Why? Because the government might not know which of your assets were intended for which inheritor and to what extent. For example, if you know that one of your sons is good in a specific business niche, you are better placed to appoint them heirs as per their fortes. However, the state will allocate these assets using mathematical formulas of equality.
Writing a will also ensures that your underage children’s inheritance remains under trusted guardians. The last will allows you to appoint guardians you are sure will have your children’s best interests at heart. Therefore, you won’t just leave their inheritance in the hands of people because of legal obligations. Instead, you leave their inheritance under a guardian based on proven personal connections.
Fourth, the last will ensures that your family members remain at peace because the document clearly and definitively determines who gets what and in what measure. Thus, everyone runs in their own lane because the boundaries are set. Eventually, you save your children potential conflicts that might degenerate into bitter and lingering family feuds.
Therefore, you need to write your last will today because tomorrow is unguaranteed. Remember, they say that today is a gift, and that’s why it’s called the “present.” Tomorrow is just that, a promissory note! What about the past? It’s just that, a past tense! So, do your family a favor, download our forms, and write your last will today!