If you die without a will, New Jersey state law decides how your assets, cash and property get distributed. If this is acceptable to you, then there is little need to give your legacy much more thought. If, however, you would rather be in control of your wealth distribution, then formulating a solid estate plan – including crafting a will and appropriate trusts – is a wise use of time.
There are many responsibilities left to the family members when a loved one passes away. The people who are in charge of that person's estate may find they have many responsibilities -- some of which they weren't even aware of. Here are some things to keep in mind if you find yourself filling the role of the executor or trustee of the will.