Revisiting Your Last Will and Testament
May 20, 2020
At this time when many people are staying home, it is a good opportunity to revisit your Last Will and Testament. They say that the Last Will and Testament should be revised approximately every 5 years. The Federal State of New Jersey Estate Tax Laws have changed tremendously over the last five years.
Perhaps your children are no longer minors and Guardianship and Trustee provisions are no longer relevant. Perhaps you need to change your Executor/Executrix whose job it will be to make sure that the terms of the Last Will and Testament are carried out properly.
In addition to the Last Will and Testament, it is highly recommended that you also prepare a Power of Attorney and a Living Will which are important documents pertaining to the handling of your affairs during your lifetime.
I have been handling Estates and Estate Administration for 30 years. I can advise you as to what is needed and what is not needed to make sure that you are properly protected.