One of the most important elements of a complete estate plan is a power of attorney. With this document, you grant authority to a trusted individual to handle your financial and legal matters if you should become incapacitated or unable to manage them on your own.
Many people understand the legal system as a method to protect their rights and punish wrongdoers. However, the legal system has many other functions to help individuals accomplish everyday tasks and to serve their everyday needs. For example, not all New Jersey residents choose to create estate plans for the distribution of their assets upon their deaths. When individuals do not have an estate plan or have assets that require administration, probate may be necessary.
Some people work for years to save enough money to buy tracts of land for their own personal use. While some may buy land for agricultural or business purposes, many New Jersey residents buy plots of land with the intention of building homes on them. Owning land gives individuals the freedom to work toward their goals and fulfill their dreams without the constraints of renting property from others.