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,...
Creating a will or trust will likely be a part of your estate plan. However, the process of estate planning requires you to consider any variables that might be relevant either before or after you pass. For example, you may want to consider what will happen to your...
Through a legal gift, you can pass wealth to your spouse tax-free. There are limits of up to $15,000 for each gift you give in a calendar year. Your estate plan in New Jersey may also include a trust that lists your spouse as the beneficiary. Many of these options,...
Incapacity planning occurs when a designated person manages your property and personal affairs due to your mental or physical incapacitation. If you find yourself in this situation, consider incapacity as part of an estate plan in New Jersey. If you don't include...
Estate planning involves many tasks, such as writing a will, signing a power of attorney form, crafting a health care proxy, and taking several other steps. Some New Jersey residents may wonder where they should start. Performing a thorough review of the estate might...
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...