Michael J Beatrice | Attorney At Law

Free Initial Consultation | Call 201-897-3570

Michael J Beatrice | Attorney At Law

Call 201-897-3570

Michael J Beatrice | Attorney At Law

201-897-3570

A Fierce Advocate For

Clients’ Rights

Safeguard Your Assets With An Estate Plan Attorney

If you’ve ever been involved in estate settlements, you know they can get complicated and confusing. You need a knowledgeable and experienced estate attorney to help guide you through the process and safeguard your family’s assets. With offices in Mahwah and Hackensack, Michael J. Beatrice, P.C., Attorney at Law, serves the legal needs of clients throughout New Jersey.

Comprehensive Estate Planning Legal Services

Attorney Michael Beatrice will make sure that you and your family members have your assets in order and that the right benefactors receive what they should in the event of a death. For example, he can assist you with a variety of estate planning services, including:

Attorney Michael Beatrice can help you draft a will or set up a trust to protect your assets, your legacy and your family’s future. You can rest confidently knowing that your assets will be well preserved for your loved ones. Mr. Beatrice can help you create a living will or health care power of attorney so that you can express your wishes regarding medical treatment.

As a seasoned litigator, he can also help you navigate the probate process if it becomes necessary. Mr. Beatrice can guide you through the New Jersey probate process and ensure that your interests are adequately represented in court.

Answering Your Frequently Asked Questions About Wills, Trusts And Estate Planning

With more than 45 years of litigation experience, attorney Michael Beatrice has helped a lot of New Jersey clients with many different legal challenges. Here, he has compiled a list of some of the questions he is most commonly asked about estate planning. If you still have questions, he can answer questions about your specific case in an initial consultation appointment.

What should an estate plan include?

An effective estate plan should address various aspects of your financial and personal affairs. Key components of an estate plan include:

  • A will
  • Applicable trusts
  • Powers of attorney
  • Health care directives
  • Beneficiary designations
  • Guardianship designations

Every client has a different wealth portfolio and unique wishes. As a result, attorney Michael Beatrice will work with you to customize an estate plan that is right for your unique situation and circumstances.

What is the difference between a will and a trust?

Both wills and trusts are essential and invaluable estate planning tools, but each one serves a different purpose.

  • Will: A will is a legal document that specifies how your assets will be distributed after your death. It can also name guardians for minor children. In New Jersey, a will goes through probate at the time of the decedent’s death to make sure that their assets are distributed according to their wishes and that any outstanding debts are paid.
  • Trust: A trust is an estate planning tool in which a trustee manages assets for the benefit of the beneficiaries. Using a trust as part of your estate plan can provide for minor children, divert assets so that they avoid going through the probate process and may have other tax benefits. A trust can be revocable (can be changed or terminated) or irrevocable (cannot be changed once established).

Deciding whether you need a will, a trust or both depends on your specific circumstances. Consulting with an experienced estate planning lawyer will help give you the information you need to make the best decision.

What happens if someone dies without a will or a trust?

If someone dies without a will or trust, their estate will be subject to New Jersey’s intestate succession laws. This means that the probate court will have to divide your assets by following the state laws. These legal designations may not align with what you want. Typically, assets will go to your closest relatives, such as your spouse, children or parents. When an estate has to be distributed according to intestate succession laws and adjudicated in probate court, the process can be long and expensive. It can also lead to disputes among family members.

Having a will or trust in place ensures that your assets are distributed according to your wishes and can help avoid family conflicts and legal complications.

When should an estate plan be updated?

It is essential to review and update your estate plan regularly to ensure it reflects your current wishes and circumstances. You should also update your estate plan after:

  • Major life events: Major life events can include marriage, divorce, the birth or adoption of a child or the death of a loved one.
  • Significant financial changes: Acquiring or selling substantial assets, changes in income or retirement are all significant financial changes that could warrant a review of your estate plan.
  • Changes in relationships: If your relationships with beneficiaries, executors or trustees change, you may need to update your estate plan.

In addition, sometimes the laws in New Jersey change. If an estate planning law changes, it could affect your plan’s effectiveness. Regular reviews with an estate planning attorney can ensure your plan remains compliant.

Consult A New Jersey Estate Planning Attorney Today

There’s no better time to create or update your estate plan. To schedule an appointment, send a message or call 201-897-3570 for experienced legal guidance.