The spectacular Garden State of New Jersey is home to over forty thousand practicing attorneys specializing in different areas. An estate planning lawyer is particularly in-demand because the residents often need their wills to be written or altered and entire estates managed.
There are plenty of advantages of hiring NJ estate planning attorneys, and the residents of this beautiful state can testify. These attorneys can guide you through property sale, elder care planning, guardianships, and much more.
Here are the key benefits of an estate attorney and how they can be helpful to the New Jersey residents.
1.Estate Administration
Although almost ninety percent of the nine-million-plus population of New Jersey are high school and higher education graduates, they may not necessarily possess the qualifications to manage their property. A lawyer in the state can do that and a lot more for them quickly. More specifically, an NJ licensed estate administrator can help the residents in the complex probate process, whereby the property and all assets of the deceased are divided among family, friends, and other beneficiaries.
As per the official administration process in the state, a local attorney will first gather all assets of the demised and pay off any outstanding dues or debts by them. Then, the professional will need to file state and federal taxes, following which the remainder of the assets are distributed to the respective heirs. Typically, it takes about a year for inheritance settlement in New Jersey.
New Jersey attorneys can also help draft a will for a minimum of $150 to $600. While this is the average cost, it may be hiked if there are any unforeseen complications or issues.
2.Business Litigation
Business disputes are widespread in the state, with scores of people hiring NJ estate planning attorneys to settle such issues for them. Common conflicts around intellectual property in the region include trademark infringement, unscrupulous work practices, false advertising, and embezzlement of trade secrets. Generally, the primary aim of attorneys in such cases is to help their clients recover losses or a reasonable royalty at the most. In some cases, they may negotiate licensing settlements on behalf of their clients.
Other common disputes in New Jersey that an estate planning attorney can help with include title litigation, breach of contract or lease agreements, mortgage trouble, broker disagreements, and foreclosure of industrial or commercial property. Often, they negotiate and settle boundary disputes, ensuring each party is satisfied with the outcome.
You can also hire a lawyer to settle disputes over professional services, employer misdemeanor, and disagreements concerning partnership or shareholder agreements.
3.Real Estate Planning
South New Jersey is an attorney state, meaning that you must have a licensed attorney present when closing certain real estate transactions. While this may be subject to change, it is still prudent to consult a lawyer or even have one to represent you when undertaking crucial real estate proceedings. For these reasons, the average hiring cost is between $1,000 and $1,500 for residential property sales and approximately up to $3,000 for commercial property closings.
With the recent housing market boom in the state, resident buyers have been grappling over available properties, caught in the middle of vicious bidding wars. An NJ estate attorney can help to make the process simpler and quick without hassles.
