Estate Planning
Estate Planning
At Campanile Law, we make the estate planning process easy using a method we created. We also call this part of the law Legacy Planning as people want to prepare their legacy rather than contemplate the end. We provide the following services:
Will Drafting
A will is a legal document that designates the distribution of an individual’s estate upon death. This document specifies how property is to be divided and to whom it shall be distributed and who is in charge. It will also aid in avoiding tax consequences. If an individual does not have a will, an appointed administrator distributes the estate according to the laws of the State of New Jersey. This may result in a distribution of assets that the deceased would not have wanted.
Trust Formation
A trust is an agreement which allows a third party to administer another’s property or bequest. It can be created through or independent of a will. Such an agreement can be established for minor children or others who are incapable of managing their affairs or bequests.
Power of Attorney
Power of Attorney is a critical tool which allows an older person to make decisions with regards to the management of property, in advance of incapacity. It is used to elect an agent who will act, during incapacity, on the behalf of an individual. The agent appointed in the Power of Attorney can also make medical decisions if a Living Will has not been created.
Living Will
This document identifies the medical treatments you would and would not want to be used to keep you alive, as well as your preferences for other medical decisions. There are several areas that one must contemplate for end-of-life care decisions.
Guardianship Plan
(for those individuals with children under the age of 18)
This allows a parent to designate someone to be your child’s caretaker. This document will grant the caretaker to make choices for the child with parental/guardian authority over his/her medical decisions, educational decisions, and financial decisions when the principal is unable to make decisions, act, and/or communicate.