Setting up a revocable living trust in New Jersey involves multiple steps. One of those steps is setting up a successor trustee. A successor trustee is a person who will handle the trust after you’ve passed. The successor trustee will also take over the trust should...
Designated beneficiaries are an important part of an estate plan. Without the correct level of planning, an heir can be hit with a hefty tax bill. The use of designated beneficiaries can help your heirs avoid probate. Yet, when estate planning is incorrect, the length...
Many people feel overwhelmed at first when they think of writing their estate plan. It's easier than you may think. Five of the main documents to include in a New Jersey estate plan relate to your financial power of attorney, healthcare power of attorney and any other...
After working diligently in New Jersey to accumulate a significant amount of wealth, you may want to leave your millions to your loved ones. Taking time to create a solid estate plan is the best way to help ensure this wish gets completed correctly. Going this route...
When someone in New Jersey dies without a will, the court will appoint an administrator to settle the estate. One of the requirements the judge will ask for during this procedure is an administration bond. Here's an overview of what this bond is and why it might be...
Taking the time to write a will is worth it to prevent family disputes after your death. It can also reduce your estate taxes. How much it costs to make a will in New Jersey depends on which method you use. Cost of a will Using a web-based service to write a will on...
A living will is a common component of any comprehensive estate plan for New Jersey residents that serves as an advance directory when some unforeseen medical event happens to the testator. This can eliminate confusion regarding whether or not to keep an individual on...
Are you dealing with a descendent in New Jersey who owned real estate or tangible personal property in another state? This situation will require an ancillary probate proceeding in addition to the regular probate process as the state where your descendent resided...
If you are an adult and you live in New Jersey, you should consider creating an estate plan. Having one is important for all adults, but many people keep putting it off or make common mistakes. Your health and finances Making an estate plan is not just about your...
Many estate planning tools exist for transferring assets to beneficiaries, including trusts, retirement plan beneficiary designations and last wills and testaments. These legal documents provide many options for bequeathing your assets to your children, spouse,...