In recent years, it has become increasingly more important for individuals to legally ensure their families are able to hold onto the assets they have spent a lifetime accumulating.
“Estate planning is about more than just saving taxes,” says John Beyel, Esq., a partner with McElroy, Deutsch, Mulvaney & Carpenter, LLP of Morristown and an expert in wills, trusts and estates. “In the absence of a valid will at the time of your death, your assets will be distributed as determined by the state, not by you.”
To help make the process less intimidating and easier to understand, Beyel will host a seminar on the fundamentals of estate planning on Tuesday, November 18, 6:30 — 7:30 p.m. at County College of Morris (CCM). The event will be held in the Student Community Center, Davidson Room B, on CCM’s Randolph campus, 214 Center Grove Road. Attendees should park in Lots 5 or 6.
The educational session, sponsored by the CCM Foundation, is free to the public but reservations must be made in advance by Tuesday, November 11, by calling 973-328-5058 or emailing email@example.com.
Beyel will cover the importance of keeping an estate plan up to date with current beneficiary information reflecting life changes regarding marital status and the birth of children and grandchildren.
Additional topics will include how estate planning is more than just money and taxes, probating an estate, and current and proposed changes to the tax code that may affect an estate. Refreshments also will be served.
“Regardless of age, everyone should have a durable power of attorney and healthcare directive, in addition to a will,” says Beyel. “Having these documents in place spares your family unwanted expense and emotional stress at the most critical of moments. If not for yourself, consider having these documents for the benefit of your loved ones.”