Cranford Estate Planning Attorneys

Union County firm develops comprehensive strategies for New Jersey clients

Life can change in a single moment, and if you do not take steps to organize your affairs in advance, your family could face great difficulty distributing your assets should you die unexpectedly. At Frieri Law Group in Cranford, we approach estate planning with thoughtfulness and sensitivity, so New Jersey residents can create valid legal instruments that meet their needs and ease the burden on their loved ones. Whether you’re looking to draft a will, establish a trust or guide someone’s estate through the probate process, our experienced attorneys can help. 

The importance of creating a valid will

No matter the size of your estate, you can benefit from having a will. This document sets out how you want your property to be dispersed after your death and allows you to designate a person to oversee the settlement of your estate. Without a will, New Jersey law dictates who receives your property, and you lose all control over what happens. Failing to leave a valid testamentary document will likely make the administration of your estate longer, more expensive and vulnerable to challenges. We are highly experienced at drafting wills for all sizes of estates and will ensure your intentions are clearly documented and enforceable. 

Guardianship and conservatorship under New Jersey law

Whether due to a sudden event or a slowly progressing illness, anyone can lose the ability to handle their finances and their daily needs. In such a case, a guardian is often needed to assume these functions. New Jersey law authorizes the appointment of a guardian of the person (guardianship) and a guardian of property (conservatorship). An appointment may be voluntary or court-ordered. The specific powers granted can vary greatly depending upon the needs of the incapacitated individual. Knowing how emotional these matters can be, our firm strives to secure a reasonable arrangement that protects the interests of the incapacitated individual. 

What should you expect during probate?

Probate is a court-supervised process for distributing a deceased individual’s property under the terms of his or her will or under the state’s intestacy laws. An executor is appointed or confirmed to oversee the estate and is tasked with marshalling the assets of the estate, settling creditor claims, locating heirs and distributing assets. Many New Jersey probate cases can be handled within a matter of weeks. More complex estates are typically settled in less than a year. Probate can be complex and we take steps to keep the process as efficient and smooth as possible. 

Reviewing and revising your will 

As your circumstances and goals change over the years, so should your estate plan. Checking periodically every few years to see if the terms still reflect your wishes is a good strategy. You might also want to make an immediate change after a marriage, divorce, birth or significant financial shift. We review existing wills with our clients and suggest appropriate revisions. Depending on the specific change required, we can prepare a codicil amending your will or we can draft an entirely new document. 

Choosing an appropriate executor

The executor you appoint to manage and settle your estate should be trustworthy, organized and capable of handling all financial and legal responsibilities. We can outline the specific duties that are assigned to estate representatives, such as notifying heirs, maintaining an inventory of estate assets and communicating with the court. This can help you choose the right person to distribute your property through the probate system. While individuals unfamiliar with estate administration can usually complete the probate process successfully with the assistance of an experienced attorney, there might be situations where it’s best to name a professional to serve as executor. Some testators do this when their estate involves complex assets or when existing conflicts might make it difficult for a family member to complete their job. 

How careful planning can lower estate tax exposure

While New Jersey no longer imposes an estate tax, there is still a federal one. You might wish to make appropriate plans if you believe the assets you leave behind could exceed the federal estate tax exemption. For 2024, the individual exemption amount is $13.61 million. However, this amount might drop sharply in the next few years and you should be prepared for whatever the exemption level is when the time comes. Our firm can review your situation and suggest methods of reducing tax exposure, such as trusts, joint accounts, charitable contributions and strategic gifts. We can also advise on the application of the state’s inheritance tax if you plan to bequeath assets to individuals, such as siblings, who do not qualify for the exemption granted to immediate family members. 

Establishing a living trust

Revocable living trusts are used by many New Jersey residents who want their loved ones to avoid having to wait through the probate process. You can deposit your assets into a trust and maintain access to them for the rest of your life. Whatever remains upon your death is then directly transferred to the beneficiaries you name. Living trusts may be modified or dissolved at any time and they can be administered privately. This way, family members avoid the time and expense associated with going to Surrogate’s Court.

Controlling your end-of-life medical treatment through a living will

A serious health emergency can happen at any time. Our firm drafts advance medical directives and living wills for clients so that their wishes regarding provision or withholding of treatment will be honored even if they are unable to communicate. With a living will, you can provide enforceable instructions about whether extraordinary lifesaving measures should be used if your condition is terminal. In addition, you might want to appoint a proxy to handle key decisions if you are incapacitated by injury or illness but it’s not an end-of-life situation. 

Contact a knowledgeable New Jersey attorney to discuss your estate plan

Frieri Law Group in Cranford advises residents of Union, Morris and Somerset Counties, as well as other New Jersey communities, on a wide range of estate planning issues. For a consultation regarding your specific needs, please call 908-883-3390 or contact us online.