Why make a will?

Because if you die without a Will, New Jersey law provides how your Estate will be distributed.

People often wonder whether the time and expense required to have a Will drafted is worth the effort when they do not have a complicated estate. If you find yourself asking similar questions, the simple answer is yes.

Often people will avoid creating a will because all of their assets are held jointly with their spouse and they believe that when one dies the estate will pass to the other. This may be true in most instances but what if they should die simultaneously, in a common disaster or within hours of one another, the results may change.

Additionally, situations often arise where there is a divorce, children, a new spouse, stepchildren, grandchildren, domestic partners, who may not receive the inheritance without a will.

The property referred to in this section deals with assets in the decedent’s name alone.

1. If you die leaving a spouse or domestic partner and children of the same marriage, the spouse or domestic partner will inherit the entire estate. (i.e., no stepchildren or children of a prior union).
2. If you die leaving a spouse or domestic partner and children of a prior union, the spouse or domestic partner will inherit the first 25% of the estate, but not less than $50,000.00 nor more than $200,000.00, plus one-half of any balance of the estate. Your children take the balance equally.
   Grandchildren will take a portion of their deceased parent’s share
3. If you die leaving a spouse or domestic partner, child or children a stepchild or stepchildren, the spouse or domestic partner will inherit the first 25% of the estate, but not less than $50,000.00 nor more than $200,000.00, plus one-half of any balance of the estate. Your children take the balance of the estate equally. Grandchildren will take a portion of their deceased parent’s share.
4. If you die leaving a spouse or domestic partner and no children, but are survived by parents, the spouse or domestic partner will inherit the first 25% of the estate, but not less than $50,000.00 nor more than $200,000.00 plus three-fourths of any balance of the estate. Your parents take the balance equally.
5. If you die leaving a child or children but no spouse or domestic partner, children will inherit equally. Grandchildren will take a portion of their deceased parent’s share.
6. If you die leaving no spouse or domestic partner, children or grandchildren, your parents take all. If no parent survives, your brothers and sisters will take equally.
7. Where there is no immediate family, your property may go to more distant relatives (grandparents, aunts, uncles, cousins, etc.), then to stepchildren, or even revert to the State.

As you can see, the advantages of having a will far outweigh any disadvantages.
For a nominal fee and a few hours of your time you can make certain your loved ones will not be further burdened after your death by your poor decision making.  Our office has prepared hundreds of wills for our clients and would be delighted to meet with you on the subject.   Our initial 30 minute consultation is complimentary, at which time we can evaluate your situation and advise you of the costs and benefits of various options tailored to your specific needs.

Please feel free to contact us for any matters on which we may assist you.

Read more on the services provided by Sammarro & Zalarick on our Wills & Estates page.