Life changes constantly, and your estate plan should change with it. The Frieri Law Group helps clients throughout New Jersey adapt their Wills and other estate planning documents to reflect new circumstances, goals, and legal requirements. Whether you need a simple amendment or a complete revocation, we ensure your estate plan accurately reflects your current wishes.
Your Will is not a static document. You should seriously consider reviewing and updating it whenever a major life event or financial change occurs. This includes:
Marital Status Changes: Getting married, divorced, or separated.
Family Changes: The birth, adoption, or death of a child or grandchild.
Executor Changes: The death or incapacity of your named Executor or Trustee.
Beneficiary Changes: A beneficiary’s circumstances change, or you wish to add or remove one.
Property Changes: You acquire or dispose of substantial assets, such as purchasing or selling real estate.
Location Changes: You move to a different state.
Tax Law Changes: Federal or state tax laws are updated, potentially impacting your estate.
An outdated Will can lead to unintended consequences, including disputes among heirs, increased taxes, and the distribution of your assets contrary to your current wishes.
When reviewing your Will, it’s essential to consider the potential estate tax implications. New Jersey has an Inheritance Tax that applies to transfers of assets to certain heirs, but currently has no state-level Estate Tax. Federal Estate Tax thresholds are high and subject to frequent legislative changes.
Updating your Will and overall estate plan—which may include trusts—allows us to help you employ legal strategies to minimize potential tax burdens and ensure the maximum value is passed on to your beneficiaries.
The Executor is the fiduciary responsible for managing your estate and distributing assets after your death. When revising your Will, you should re-evaluate your choice of Executor and any named alternates. The person you appoint should be trustworthy, organized, and capable of handling complex legal and financial matters. If your current Executor is no longer suitable, we can help you make a necessary, formal change.
Estate disputes can be costly, emotionally draining, and can fracture families. By proactively updating your Will, you minimize ambiguity and reduce the grounds for potential challenges. We can incorporate specific language and use planning tools that clearly articulate your intent and address foreseeable issues, thereby safeguarding your wishes against future litigation.
In today’s digital world, your estate plan must account for your digital assets. These can include online accounts, cryptocurrency, intellectual property, email accounts, and digital photos. New Jersey law allows you to specifically address who should have access to and manage these assets upon your death. When updating your Will, we ensure that your valuable digital property is properly documented and legally passed to your designated heirs.
Whether you need a full revocation and new Will, a minor change via a legally executed codicil, or want to incorporate a new trust, our firm provides the focused legal service necessary to reflect your current life circumstances.
Contact our Cranford law firm today to schedule a consultation and ensure your Will is up-to-date and legally sound.