Estate planning is an important part of preparing for your future. As a resident of New Jersey, you may want to create a trust to protect your assets and property as well as prevent the need to go through probate. You should know the differences between revocable and...
When someone passes away, probate becomes the process in which an estate opens, and the court oversees the directive in a will. Probate in New Jersey courts could be a straightforward process, but things may take time. Beneficiaries may suffer through additional costs...
Incapacity planning is an important part of estate planning for all New Jersey residents. Some people try to accomplish this in the easiest way possible when it comes to their bank and investment accounts. Having a joint tenancy account is one way to ensure that you...
It's not uncommon for parents to want to pass assets such as a New Jersey home to their children after their passing. However, there are many variables that you must consider when deciding how to transfer items to your sons or daughters. Ideally, you will take into...
Devising an estate plan might not be as challenging as some assume. Investing the right amount of time and effort could lead to creating a comprehensive estate plan that is legal under New Jersey law. The various documents may remain legal years after initially...
Some states have varying inheritance taxes, and New Jersey is no exception. Indeed, virtually every state has some sort of inheritance tax, and no two states have the same type of tax. New Jersey has some very specific tax laws that can impact how much money your...
When New Jersey citizens pass, their will is entered into the probate process. During this process, the executor named in the will must take care of paying off the deceased person's debts and distributing their assets according to their will. This is a position that...
New Jersey adults who want to help their loved ones avoid the probate process after their death can do so using a transfer on death account. This is just one of many of the tools that estate planning has to offer people. If you're unfamiliar with this type of account,...
A power of attorney contract could make things easier for someone who may have trouble managing his or her finances and other affairs. When someone, legally referred to as the "principal," names another person an attorney-in-fact through a power of attorney document,...
Many New Jersey residents are under the misconception that only the wealthy need to go through the estate planning process. The reality is that estate planning is a necessity for adults. It doesn't matter if you have a lot of assets or hardly any. Common topics of...