Real estate planning for gay and lesbian couples who are not part of a civil union or have registered as internal partners “save money and provide for their loved ones”.
As average Americans, we work 80,000 hours over a lifetime, or 45 to 55 years. Despite all the resources and assets we earn, the vast majority of Americans with assets do not spend time creating Will. National statistics show that 80% of Americans die without leaving Will. There are several reasons for this: the fear of death; procrastination; and misinformation (people believe that only the rich or married with children should have a Will). Whatever the justification, it is clear that people will benefit from the presence of Will.
In the absence of a Will or other legal agreement on the distribution of property upon death, your partner cannot receive any assets and cannot manage your property. The result may be long delays and other problems. Persons in homosexual or lesbian relationships need proper handling of Wills documents and estate planning, and not with people who have direct access. Testament laws usually stipulate that if a person dies without will, their property goes to the family, and not to the partner with whom they have been involved for many years or decades.
IF YOU WILL NOT:
If you do not leave a will or your will is declared invalid because it was improperly prepared or not allowed for a will:
* State law determines who gets the assets, not you.
* Additional costs will be incurred and additional work will be required to qualify an administrator.
* Possible additional state inheritance and federal property taxes
* If you do not have citizenship, spouse or close relatives, the state may take your property
* The asset allocation procedure becomes more complex, and the law does not provide for exceptions for persons with unusual needs or for your own wishes.
* It can also cause fights and lawsuits between your partner and your family.
When your loved ones grieve and deal with death, they should not be overwhelmed by property disputes and financial problems. Careful estate planning helps take care of this.
Below is a sample of the various provisions and clauses that should be included in a will for an unmarried person:
1st: debts and taxes
2nd: specific testaments to the partner, charity, etc.
3rd: relationship to partner
4th: inheritance reminder order if the partner has previously died
5th: the creation of trusts for partners
6th: the spread of children or confidence in children
7th place: other beneficiaries under 21
8th: performers
9th: trustees
10th place: guardians of children
11th: no guarantee or bond is required
12th: powers
13th: self-examination will
14th: basic and income
15th place: no assignment of heirs
16th place: gender
17th: building will
18th: no competition clause
The will must not only be prepared in accordance with the legal requirements of the New Jersey Statute, but must also be prepared so as not to leave any questions about your intentions.
WHY A PERIODIC REVIEW IS BASED
Even if you have an existing Will, many events occur that may require changes in your Will. Some of them:
* Internal partnership, marriage, death, birth, divorce or separation affecting people named in your will
* Significant changes in the value of your total assets or in any specific assets that you own
* Changes in your relationship
* Change your domicile
* Death or incapacity of the beneficiary or death, incapacity or change of residence of the named performer or one of the witnesses of the execution of the Will, if the Will is not self-sustainment
* Annual changes in tax legislation
CAN YOU CHANGE MY?
Yes. The will can be changed, added or permanently changed at any time before your death, if you are mentally and physically competent and want to change your will. You should consider revising your Will when there is a change in the size of your property.
Beware, if you draw lines through elements, erase or write, or add signs to the original Will, it can be destroyed as a legal document. Either a new Will must be lawfully prepared by a lawyer or a Codified lawyer signed for a legal change of parts of the Will.
TO SAVE MONEY
Testament in New Jersey is not difficult. Your property will be subject to foresee whether you have the Will, and in most cases, the Will reduces the cost by eliminating the requirements of the bond. When you meet with your lawyer to prepare for the Will, you can also explore ideas for reducing taxes on mortality and other expenses. Do not hold pennies now to the detriment of your Partner and beneficiaries. We have tried to briefly explain in this article some of the issues, methods and solutions related to Wills, Estate Planning and Administration of Estate. Because the issues at hand are complex, and the laws of federal and New York law change frequently, this article may outline some of the many legal issues you should consider.
The cost of the Will depends on the size and complexity of the property and the plans of the person who makes the Will.
A well-designed Simple Will without trust costs from about $ 300.00 to $ 600.00. This is one of the most important documents you have ever signed, and may be one of the best deals you have ever had.
Also, find out if your Will is a “self-amendment” that will not be forced to find witnesses to the Covenant after death.
WHAT WILL BE?
“Will is a legal written document that, after your death, determines how your individually owned property will be distributed, which will be responsible for your property before it is distributed. You must remember that the term “property” in accordance with the law includes “real estate, as well as other things and rights to receive money or valuables”. Everyone who has assets of at least $ 3,000 should have. You do not need to be rich, married or close to death to seriously think about your will.
ADMINISTRATION OF REAL ESTATE
If you are called a performer or performer, you must visit the district surrogate to bequeath the Will. You will need the following items:
1. Death certificate
2. Original will
3. Names and addresses of next of kin and beneficiaries
4. At least $ 100.00 surrogate
A state tax return and tax paid on the transfer of real or personal property within eight months after death must be filed.
OTHER CONCERN PARTS PREPARED BY YOUR ATTORNEY
- power of attorney - allow your partner or another person to manage your assets during your life, either by disability or now
-Living Wills / Advance Directive - state your desires regarding medical care in case of a serious illness and allow your partner or other person to make medical decisions.
In the absence of a power of attorney or other legal agreement on the distribution of property, if you become disabled, your partner cannot pay your bills or access your assets. The result may be long delays.
The reasons for obtaining power of attorney
What are these powers of attorney?
A power of attorney is a written document in which a competent adult (“master”) appoints another competent adult (“attorney in fact”) to act on behalf of the principal. In general, a lawyer can actually perform any legal functions or tasks that the principal has the legal right to do for himself. You may want to sign a Power of Attorney giving your partner the right to handle your affairs if you are sick or disabled.
The term “strong” in relation to a power of attorney means that the force remains in effect for the director’s entire life, even if he / she becomes mentally incapable. A manager can revoke a power of attorney at any time for any reason. Powers granted by proxy can be very broad or very narrow according to the needs of the principal.
Why is Power of Attorney so important?
Every adult has daily affairs for management, for example, payment of bills. Many people have the impression that in the event of a catastrophic illness or injury a partner with living partners or a child can automatically act for them. Unfortunately, this is often wrong, even if there are situations of co-ownership. Even in accordance with the “New” NJ National Partners Act, you cannot act on behalf of a partner if they become disabled. A power of attorney allows your partner or another person to manage your assets during your life, either by disability or now.
Lack of properly prepared and executed power of attorney can cause extreme difficulties when a person suffers from a serious illness or injury, which makes him / her unable to make decisions or manage financial and medical matters. New Jersey has detailed, costly legal procedures, called guardians or conservatives, to ensure the appointment of the Guardian.
Usually they require lengthy formal proceedings and are expensive in court. This means attracting lawyers to prepare and submit the necessary documents and doctors to provide medical tests regarding the mental incapacity of the subject of the action. Procedures also require the participation of a temporary guardian to investigate, even intervene, in a surrogate trial. It can be slow, costly and very frustrating. In addition, the internal partner may be challenged in the custody of family members of the incapable.
Preliminary preparation of a power of attorney could avoid inconvenience and guardianship costs. This must be done when the manager is competent, ill and aware of the consequences of his decision. As soon as a serious problem occurs, it is usually too late.
A power of attorney can be effective immediately after a signal is transmitted or only by disability. Some examples of legal powers contained in the Power of Attorney are as follows:
1. REAL ESTATE: Execute all contracts, documents, bonds, mortgage loans, bank notes, checks, projects, money transfers, as well as rent, collect rent, provide, sell, sell or borrow and mortgage, and manage, mitigate ., and adjust all matters relating to real estate.
2. APPROVAL OF COMMENTS, ETC.: Make, execute, approve, accept and submit any and all notes, checks, drafts, notes and trade acceptances.
3. PAYMENT OF INDICATORS, ETC.: pay all amounts of money at any time or at any time that may in future be due to me on any bill account, check, draft, note or transaction accepted, made, approved, accepted and delivered by me, or for me, and on my behalf, by my Agent.
4. LAWS, BONDS AND SECURITIES: to sell any shares of shares, bonds or other securities belonging to me that belong to me that may be issued by an association, trust or corporation, wherever they are closed or opened, and also produce provide any assignment or instructions for any such shares, bonds, or other securities.
5. CONTRACTS, AGREEMENTS, ETC.: Enter deposit boxes, as well as draw up, sign, execute, deliver, recognize and execute any contract, agreement, letter or thing that, in the opinion of my Agent, may be necessary or appropriate to be enclosed, manufactured or signed, sealed, executed, delivered, confirmed or executed.
6. BANK ACCOUNTS, DEPOSIT CERTIFICATES, CASH MARKETS, ETC.: To add or withdraw any amounts from any of my bank accounts, certificates of deposit, money market accounts, etc. From my name or for my benefit. Make, execute, approve, accept and deliver any and all checks for bribes, invest and withdraw funds, acquire and redeem certificates of deposit from banks, savings and credit associations and other institutions, execute or issue such documents of trust or other security agreements that may be necessary or appropriate in the exercise of the rights and powers granted by this Agreement; Without any limitation or limitation of the foregoing, for conducting banking transactions.
7. TAX RETURNS, INSURANCE AND OTHER DOCUMENTS: Sign all federal, state and municipal tax returns, insurance forms and any other documents and represent me in all matters related to the above.
You must contact your attorney to obtain a power of attorney, together with Will, Living Will and other vital real estate planning documents.
Gays and Lesbians - Living Will / Preliminary Directives
Planning for the future for your healthcare:
In the absence of a Living Will or other legal agreement, if you become disabled, your partner usually does not have the right to talk about medical care or life support. Your partner cannot access your assets. Your partner cannot receive information about your medical status or health care. Preliminary directives are very personal documents, and you should be ready to develop the one that best suits your own needs.
All states have stated that competent adults have a fundamental right in collaboration with their health care providers to monitor decisions about their own health care. States recognize in their legislation and public policy the individual right of an individual patient to a voluntary, informed choice to accept, reject or choose among alternative courses of medical and surgical treatment. If you have Live Will, you can create your partner as a decision maker.
WHY ANIMAL WILLS
Modern advances in science and medicine have allowed to extend the lives of many seriously ill people, not always offering realistic prospects for improvement or treatment. For some people, the possibility of extended life is perceived as meaningful and useful. For others, the artificial extension of life may seem to have nothing to do with medicine or useful, serving only to prolong suffering and prolong the death process. States recognize the inherent dignity and value of human life and, in this context, recognize the fundamental right of individuals to make health decisions about the provision of life-prolonging medical or surgical facilities or procedures provided, withheld or withheld.
States recognize the right of competent adults to plan ahead health care decisions by fulfilling advance directives, such as Living Wills and lengthy powers of attorney, and respect their desires subject to certain restrictions.
THE PURPOSE OF LIFE
To ensure respect for patients, previously expressed desires, when the ability to take an active part in decision making was lost or weakened; promote and encourage informed decision-making in which participants, health care representatives, families, doctors, and other health care workers are active; properly consider patients. interests in both self-determination and welfare; and to provide the necessary and appropriate guarantees related to the cessation of life support for patients with incompetent patients as a law and public policy of this state, the legislature has enacted “Living Will / Advances” laws for health laws.
STATUTORY REQUIREMENTS
The provisional health directive (Live Will) requires a written form that is in accordance with the requirements of state law. It must be signed or dated in front of a lawyer or other person authorized by administrative oats, or in the presence of two subscribers of adult witnesses. If two adult witnesses are used, they both must confirm that the declarant has common sense and is not under undue influence. A designated health representative must not act as a witness for the execution of the provisional directive. Поскольку это юридический документ, он должен быть правильно выполнен, чтобы быть действительным в соответствии с уставом.
ПРЕДСТАВИТЕЛЬ ЗДРАВООХРАНЕНИЯ
Декларант должен разработать одного или нескольких альтернативных представителей здравоохранения. «Представитель здравоохранения» означает лицо, назначенное вами в соответствии с Живой Волей, для принятия решений о здравоохранении от вашего имени.
КОГДА ПРЕДВАРИТЕЛЬНАЯ ДИРЕКТИВА СТАНОВИТСЯ ОПЕРАТИВНЫМ
Прямая предварительная работа становится работоспособной, когда
(1) он передается лечащему врачу или в учреждение здравоохранения
(2) определяется, что в соответствии с Законом пациент не имеет возможности принять конкретное решение в области здравоохранения.
Решения о лечении в соответствии с предварительной директивой не должны приниматься и выполняться до тех пор, пока не будет разумной возможности установить и, при необходимости, подтвердить, надежный диагноз для пациента, который будет включать мнение врача-держателя относительно характера, причины, степени , и вероятная продолжительность недееспособности пациента, и должны быть включены в медицинские записи пациента. За дополнительной информацией или для подготовки «Живой Воли» обратитесь к своему адвокату. Кроме того, будьте уверены, что ваша последняя Воля и завещание актуальны.
Как американцы, мы считаем само собой разумеющимся, что имеем право принимать решения о нашей собственной медико-санитарной помощи. Большую часть времени мы принимаем эти решения после беседы с нашим врачом о преимуществах и недостатках различных вариантов лечения. Право компетентного лица принимать или отказываться от медицинского лечения является фундаментальным правом, полностью защищенным законом.
Но что произойдет, если серьезная болезнь, травма или постоянная потеря умственной способности заставляют нас не разговаривать с врачом и решать, какие медицинские лечения мы делаем или не хотим? Эти ситуации представляют трудные вопросы для всех нас как пациентов, членов семьи, друзей и медицинских работников. Кто принимает эти решения, если мы не можем сделать их для себя? Если мы не сможем узнать наши предпочтения, как мы можем убедиться, что наши пожелания будут соблюдены? Если возникают разногласия между теми, кто заботится о нас по поводу различных альтернатив лечения, как они будут разрешены? Есть ли способ облегчить бремя, возложенное на членов семьи и близких, когда должны быть приняты важные медицинские решения?
Воля к жизни:
Используя документы, известные как предварительные директивы для здравоохранения, вы можете ответить на некоторые из этих вопросов и дать себе уверенность в том, что вы можете продолжать говорить в своем собственном обращении. Правильно подготовленная Живая Воля позволяет вам планировать заранее, чтобы вы могли сделать ваши пожелания известными и выбрать того, кто будет следить за тем, чтобы ваши желания соблюдались.
В конце концов, если вы серьезно больны или ранены и не можете принимать решения для себя, кто-то должен будет решить вашу медицинскую помощь. Разве не имеет смысла
o Попросите вашего партнера или другого человека, которому вы доверяете, принимать решения за вас,
o Предоставлять инструкции о лечении, которое вы делаете и чего не хотите, или
o Оба назначают человека для принятия решений и предоставления им инструкций.
