Jeralyn Lawrence was quoted in the NJ.com article, “”My husband won’t make an estate plan. What can I do?”.
“It is certainly understandable that you would want to take all reasonable and necessary steps to financially provide for your newborn son in the event of your untimely passing”, said Jeralyn Lawrence, a family law attorney with Lawrence Law in Watchung.
Even if your husband doesn’t help, there are steps you can take.
She said short of having estate documents prepared by an experienced wills, trusts and estates attorney, she often suggests that clients secure life insurance policies, naming the child or children as beneficiary, and naming a trustee. The trustee would stand in a fiduciary relationship with the beneficiary and assure that he or she receives the benefit of the policy.
“A life insurance policy is considered a non-probate asset, which means that your beneficiary can receive the proceeds from the policy faster than if they had to wait for your estate to be settled through a probate court,” Lawrence said.
Read the full article here: https://www.nj.com/news/2022/03/my-husband-wont-make-an-estate-plan-what-can-i-do.html