Four Reasons You Need a Will in New Jersey

Creating a last will and testament is a fundamental part of end-of-life planning and one of the most important decisions you can make for your family, yet less than half of people actually have a will. Mortality and loss are uncomfortable topics, but passing away without a will can lead to unintended consequences, some of which can be devastating to families already facing grief.

Avoiding intestate succession is a major motivator for many people because of the challenges it presents. When someone dies without a valid will, this is known as dying intestate. Intestacy in States like New Jersey presents numerous difficulties. Not only is the probate process generally more time-consuming and costly when no legal will exists, but it also causes increased stress for surviving family members. Why is having a last will and testament so important? Consider the four reasons below.

1. Dying Intestate Gives You No Control Over Property

New Jersey’s intestate laws regarding inheritance and heirs are complicated. In general, intestate succession laws say that a surviving spouse takes precedence for inheriting all of their deceased spouse’s assets, then children and parents after that. However, this becomes complicated very quickly based on whether the children are from a prior marriage or if there are multiple children from different marriages.

Regardless of how New Jersey laws dictate your property is to be divided after death, the takeaway about intestate succession is that you won’t have control. If you want your best friend, cousin, favorite nonprofit organization, or neighbor to inherit any property, you can’t rely on probate courts to disperse it correctly. A probate judge can only divide your assets according to state law if you don’t have a will.

2. You Can Name a Guardian for Your Children in Your Will

No one is more capable of choosing the best person to care for your children than you are. Guardianship is another aspect of end-of-life planning that you can control in your will. The court will do its best to name a guardian based on your children’s best interests but will only have a limited amount of information on which to base this important decision. If the other parent is not an option, you will want to be able to designate the person that you feel is the best choice for your children, whether that be your friend, brother, or mother.

3. A Will Allows You to Choose Your Estate’s Executor

Having a will doesn’t mean your estate can avoid probate in New Jersey, but it can make the process simpler. One of the most critical aspects of probate is appointing an executor for your estate. Probate involves any number of steps before an estate is settled, including:

• Validating or proving the will

• Identifying and valuing assets

• Paying debts and estate taxes

• Distributing property to beneficiaries and heirs

The executor manages each of these steps. When there is no will, the court is responsible for appointing someone to fill this role. Because the importance of an executor’s role cannot be overstated, it is recommended that you name someone for this position in your last will and testament. The executor should be someone you trust to uphold your wishes and act with integrity. They should also have the time and resources to commit to settling your estate because the process can require a significant commitment.

4. A Will Can Decrease Family Conflict and Stress

Even the most close-knit and caring families experience stress after the death of a loved one. When grief takes over and rational decision-making is difficult, conflict and arguments are often not far behind. If you don’t want your relatives fighting over family heirlooms, favorite trinkets, and sentimental belongings, a last will and testament is your best option. Having a will may not prevent every disagreement or disappointment, but at least your family will know your wishes regarding your property.

Taking the time to plan ahead with a will ensures you maintain control over your assets while also thinking about your family when the time comes for them to inherit.