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Estate planning is not just about asset protection

| Nov 14, 2018 | Estate Planning |

Are you ready for the future? Are you prepared for what will happen to you if you were to become incapacitated? Do you believe the purpose of estate planning is only to protect your assets? Guess what, estate planning is not just about asset protection; it is about life, wishes and family protection as well. That is something many New Jersey residents do not realize.

No one knows what the future will bring. No one thinks that they will become incapacitated and unable to care for themselves or their families. It happens and it is rarely expected. When it does, if you do not have the proper preparations made, your wants and wishes for your medical care, your financial well-being, your family and your assets may not be known or honored.

While a will is a key part of an estate plan, it is not all of it. A good estate plan will also include a power of attorney, advanced directives and guardianship information — if you have young or special needs children, — among other things. All of these legal documents will allow you to have a voice when you no longer have the ability to speak for yourself. All of these legal documents will allow your life to continue the way you want it to, even if you lose the ability to take care of everything yourself.

Who do you want making decisions for you if you were to become incapacitated? Who do you want taking care of your children, managing your medical decisions and handling your financial matters? Through proper estate planning, you can have a say in all of these things. That is something every New Jersey resident should want for themselves.