Having a will is important for all New Jersey adults regardless of whether they have many assets or few. Without a will, the state decides how to distribute the individual's possessions after their death. With a will, a person appoints an executor to administer the estate as well as beneficiaries who will receive the assets. A will may be as simple as a typed document signed by two witnesses, or it might be a complex document prepared with the assistance of attorneys and financial planners.
People who have a living will in place are able to maintain a modicum of control over the medical treatment they are willing to endure in the event they are incapacitated. When a person does not have a living will, decisions regarding life-sustaining treatment use on their behalf will be left in the hands of others.
Approaching estate planning can be very difficult for many people across New Jersey. Making plans for the end of your life is something that people may not want to even think about, let alone put down in writing. However, as uncomfortable as it may be to go through this process, having a comprehensive estate plan in place can be crucial for a person in the event that he or she develops a serious health condition.