Purposeful Advocacy for New Jersey
A Path Forward for Your Finances, Your Family, & Your Future

What Factors Go Into Estate Planning?

Estate planning is an essential part of being prepared for the future. There are more factors than many people realize when it comes to estate planning and therefore, it is important to understand what decisions you need to make when it comes time to create an estate plan. Many people are under the misconception that estate planning is just creating your will and keeping that will updated over the course of changing circumstances in your life. Though this is an incredibly important step and does take up the bulk of estate planning, there are a lot of other decisions to be made.

In addition to creating your will, you will also want to create an advance health care directive. An advance health care directive is simply a plan as to what your wishes are in the event that you become ill and can no longer make important decisions about your health on your own. When you create an advance health care directive, you will also have to grant someone power of attorney. The person you choose to grant power of attorney will be in charge of carrying out all of the requests and wishes you put into your health care directive. It may also be beneficial to name this person as the executor of your will because you know that they will respect your wishes. This is not a decision that should be made lightly. You should choose someone who can handle this task and who you can trust.

If you have questions about planning your estate in New Jersey, contact our firm today.

Juan C. Velasco, Esq. is a trusted attorney who has been serving the New Jersey area for over 25 years. If you are in need of experienced legal counsel, please contact Velasco Law Office and we will be happy to assist you.