The probate courts oversee estate administration. They help ensure that personal representatives follow estate planning guidelines and the instructions left by the deceased individual. The courts can also intervene in cases where misconduct occurs and protect the...
In New Jersey, your children typically do not pay inheritance tax because the state treats them as exempt beneficiaries, but that does not mean taxes are completely off the table. Other taxes can still apply depending on what you leave behind and how those assets are...
Tax can have a profound impact on the estate planning process. Testators need to consider the taxes that their estate may owe. They may also need to plan in advance for the taxes that their beneficiaries could end up responsible for after their passing. Frequently,...
Powers of attorney are very useful legal documents. They help people prepare for future emergency scenarios. Having those plans in place is of the utmost importance should the unexpected happen. However, many people fear the abuse of the authority that they grant to...
When an adult creates their estate plan, they name someone as the estate’s executor. That individual has specific responsibilities to perform once the creator passes away. The most important of these is ensuring that the decedent’s final wishes are carried out...
You already understand that it’s important to have a will. Without it, New Jersey’s intestacy laws will determine who gets your assets when you die. But just having a will is not enough. A comprehensive estate plan doesn’t just distribute your assets after you pass...
Many people assume that charitable giving means giving away money they might need later. When done correctly as part of a broader estate plan, charitable strategies can help you achieve your philanthropic goals while preserving your wealth. Understanding how these...
Your family home is probably one of your most valuable and expensive assets. There is also an aspect of sentimental value, especially if your children grew up there. Plus, real estate has gone up dramatically in value, so the home could be worth a significant amount...
The purpose of estate planning is to take control over one's legacy, provide support for dependents and address the possibility of a future emergency. A thorough estate plan includes a variety of different documents drafted based on the circumstances and priorities of...
You have spent your lifetime amassing wealth that supported you and your family in comfort. As you face your golden years and do your estate planning, it’s important to do all that you can to minimize probate costs, taxes and other fees for which your heirs and...
