The Value of Having Proper Account Titles in Your Estate


Planning ahead for the future is just as much about making sure that you follow through on all of the plans and strategies you have articulated with your attorney as it is having the mindset to get them accomplished in the first place. Trying to manage this on your own could become overwhelming, but the right estate planning attorney in New Jersey can help you with the process.

One of the most important things you can do to protect the future of your estate is to ensure that you have proper account titles. Titles all need to be listed with intended names of ownership as well as the type of ownership to guide the direction of your estate plan. Some of the most common examples include tenants in common and joint tenants.

Any plan that is making use of a credit shelter trust, for example, with all of the assets held together means that no assets will be available to fund such a trust until a decedent passes away. This is because jointly held assets will not pass through a person’s estate according to the terms of a trust agreement or a will. As these issues can be extremely complex, it is important to identify an experienced attorney who has experience in this field who can help you navigate the complex and comprehensive issues surrounding the estate planning process. Don’t wait to schedule a consultation that could help you get organized quickly and effectively.