Nobody likes to think about their death. It’s a natural human reaction to the fact that death is difficult. It’s just a straight up troubling thing to try to consider what the world will be like when you’re no longer a part of it. Because of this, people often leave dealing with a New Jersey estate planning attorney until the last minute, and then scramble around to try to figure out what they’ll be doing it. You can also click here to find more information on how an elder law attorney in New Jersey can help you and here for an elder care attorney.
This is a situation you should avoid. First and foremost, when you leave things until the last minute, you wind up spending far more money than you would otherwise. This is because you’ll end up hiring a trusts estates attorney in NJ on short notice, and anyone hired on short notice is going to charge more. This is just a fact of life. Emergency work costs more than work planned ahead of time, and this is doubly true of a situation that requires specialty knowledge the way an estate planning lawyer has. There are a huge number of laws involved in planning your estate, after all.
That’s not the only problem with leaving it until the last minute, however. There’s also the fact that many parts of your estate may not be easily split up. For example, you may well be able to figure out who gets what physical item. That’s certainly no problem. However, how do you split up your family business among your children? Who gets to run the business? What part of the business is owned by who? Can you simply state that different children get a full percentage of the business? What happens if one of your children doesn’t want to help run the business, but would rather sell their share?
These are things that would be best handled long before you’re on your deathbed. If you leave it all until the last minute, you simply won’t have the time to figure out all of those details. Not only that but when you’re close to death is the worst time to try to figure out details. This is because of the fact that your family is going to be understandably upset. They’ll have their emotional problems to deal with, trying to come to grips with the fact that you’ll soon be dead. The last thing they’re going to be happy with doing is handling the details of what needs to be done and consulting an estate planning lawyer. If you wait until the last minute until you handle it, you’re forcing them to do so. You’re forcing them to stop dealing with their grief and instead deal with earthly problems such as acquisitions. That’s a hard thing to do.
Ultimately, it’s better for everyone involved if you plan ahead and deal with estate planning early. Even if you have to change things up over time, you’ll still have a much easier time doing that than planning everything at the last minute. Your family will thank you, and you’ll be far more prepared and able to deal with the more important things.