Reliable New Jersey Estate Planning Attorney Helps Clients Create a Legacy
Established Bergen County firm assists with effective instruments to transfer assets
Putting off essential decisions about your future or failing to obtain proper legal advice can have terrible consequences for you and your loved ones. To secure your assets so you can provide for your loved ones, you deserve an experienced estate planning attorney who offers both skilled and compassionate counsel. At my firm, The Paton Law Firm LLC in Fair Lawn, I’ve helped people throughout northern New Jersey protect and distribute their assets for 30 years. I offer clients the assistance they need to create the individual, business or real estate documents that will maximize their estate value and avert probate problems. Whether you’re looking to draft a will, issue instructions on your medical care, or limit your tax liability, my firm can create a comprehensive estate plan that conforms to your values and priorities.
Experienced Fair Lawn lawyer delivers authoritative advice on wills
From simple wills to complex million-dollar estate and business succession plans, my firm offers complete estate planning support to clients throughout Bergen, Essex, Passaic, and Morris counties, including assistance with:
- Drafting a will — Dying without a will means that the property you’ve accumulated over a lifetime is allocated according to the state’s priorities, not yours. I will make sure that you execute a document that conforms to state law and clearly specifies your wishes.
- Handling special bequests — If you wish to create a legacy for the benefit of a charity or family members, I know how to set up these arrangements in a professional, cost-effective manner.
- Revising your instructions — Changes in your relationships or financial status can drastically alter your estate planning goals. That’s why it is important to review your will periodically to ensure that it matches your current circumstances. I can evaluate your existing instructions and make any revisions necessary to bring them up to date.
Beginning with a free initial consultation, I will evaluate each aspect of your situation and work with you to complete a document that gives you the peace of mind that you deserve.
Effective estate planner establishes living trusts and similar arrangements
Living trusts are used by many people who want their intended beneficiaries to receive assets without having to go through probate. My firm creates trusts that allow clients to retain access to their property for their entire lives and ensure a smooth transfer upon death. I can also advise you about the tax implications of these instruments and other types of trust arrangements.
Compassionate adviser prepares advance healthcare directives
Creating a comprehensive estate plan involves more than allocating your property once you die. It is crucial to protect your loved ones and enforce your wishes while you are alive. My firm creates documents such as advance healthcare directives and living wills so that you receive the treatment that you want, even if you are unable to communicate your wishes due to injury or illness. This can spare family members from having to guess about heartbreaking decisions regarding end-of-life care.
Knowledgeable counselor explains estate and inheritance tax issues
Many families learn too late about the harsh toll that federal and state taxes can take when a loved one dies. Recent changes in New Jersey law have created some confusion. Federal law exempts estates from taxation if their value is less than $5.495 million. This might seem like a lot, but with high local real estate prices, more estates are subject to taxation than people think. I can help you take affirmative steps to minimize federal taxes if your estate exceeds the limit. Though the state is repealing its estate tax starting in 2018, taxes will still apply to siblings, nieces and nephews who collect an inheritance, but not spouses or children. For individuals who die in 2017, New Jersey’s estate tax exemption is $2 million.
Contact a skilled New Jersey estate planning attorney for a free initial consultation
The Paton Law Firm LLC advises clients in Bergen County on a full range of estate planning issues and other legal matters. Please call 201-470-4801 or contact me online to schedule a free initial consultation at my Fair Lawn office.