Real Estate and Estate Planning

Residential real estate in New Jersey

Buying and selling a house can be an invigorating experience, albeit extremely worrisome.  There are many legal requirements for the buyers, owners, and sellers of property.  To make sure a transaction is fair and efficient as possible, consult a New Jersey real estate attorney before it begins.  This is a method of guaranteeing that all questions receive the accurate, timely advice from a strong legal representative that they require.

Cathy Pollak has worked with numerous residential real estate issues.  These include offering guidance to clients who are considering a short sale and assisting separating couples with their division or acquisition of real estate.

Estate planning

It is a common belief that only very wealthy or very ill people need to create a viable will.   In actuality, a will or other estate planning option can be advantageous for everyone.  Without a plan in place that specifies how property will be divided, conflicts can arise.  The state laws will dictate how assets are transferred as well as who will care for minor children.

A will is the most standard document used to plan an estate.  This document must be drafted by a lawyer familiar with such forms, be witnessed by multiple adults, and be signed by a testator who is mentally competent.  It should stipulate how possessions will be divided, where to locate immediate family, who will care for minor children, and name an executor.

Even after a will is in place, it should be reviewed and modified periodically.  Reasons to modify include:

• Marriage
• Divorce
• Birth of a child

• Adoption of a child
• Death in the family

Alternatives to a will in New Jersey are available and can be used to fit the needs of almost all people.  Some of these options can also avoid the court probate process, keeping issues of a private matter out of the public eye.  Others include:

• Insurance policies
• Retirement plans
• Giving gifts while alive

• Trusts
• Specifying asset holdings

A qualified New Jersey estate planning attorney should be able to inform anyone in need of guidance in the possible consequences of each choice.  Consult Cathy Pollak to determine which choice is best suited.