Is Your Estate Big Enough to Need a Will?

The answer is probably yes. If you own any assets in your own name, the only way to ensure that the persons who you want to inherit your property upon your death will get your property is to make a will and have it executed in accordance with New Jersey law.

Depending on the size of your estate, your heirs may not need to go through probate, the legal process for the court to order the transfer of your property to your heirs. In New Jersey, if your spouse is alive when you die, an estate of less than $20,000 does not require probate. If there is no surviving spouse, then the estate must be less than $10,000.

Regardless of whether your estate needs to go through probate or not, the issue that you must address is whether you want the state of New Jersey to dictate who will receive your assets or whether you want to make that decision. If you want to make that decision, then you must make a will.

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