Every day, you make important decisions affecting your present and future life. But what happens if you are unexpectedly incapacitated and unable to make these decisions? If you are thinking ahead, one option would be to prepare a durable power of attorney. A durable...
Estate Planning
What is a special needs trust?
People think about the loved ones they will leave behind if something ever happens to them. Some people think ahead and prepare their estate plans to protect their loved ones, even in their absence. Depending on the circumstances surrounding a person’s life, they will...
How fast is probate in New Jersey?
The probate process in most states is long, complicated and expensive, but in the Garden State it is quick and affordable. In fact, if everything goes perfectly, probate can be over in a matter of minutes. How does the probate process work? The state uses a surrogate...
Do you need any of these trusts in your estate plan?
The estate planning process can be daunting for even the most sophisticated planners. Yet, shying away from the process’s intricacies can leave you and your estate susceptible to something less than full protection. You don’t want that. Instead, you want a holistic...
Estate plans can offer protection from creditors
When we plan our estates, we think about maximizing our legacy and minimizing our taxes. After all, we would rather give our money to our uncle than to Uncle Sam. What some Pennsylvania estate planners don’t realize is they can protect their assets from more than just...
Creating SLATs with your blended family in mind
New Jersey residents often update their estate plans after big life changes. Getting married and having children are common ones, and it’s imperative to change an estate plan after getting a divorce. It’s also especially important to update your plan if you have...
Estate planning with children
Readers of this blog know that we often discuss estate planning considerations. Indeed, at the beginning of June, we discussed estate planning without children. In turn, this post will cover estate planning with children. The stage of their life How you estate plan...
When might I need a guardianship as part of my estate plan?
New Jersey residents who are thinking about the future and want to make sure they are fully prepared will understand the value of creating an estate plan. This may include a will, a trust and other options to care for loved ones and make sure their assets go where...
Five ways to discuss estate planning with your parents
As your parents get older, there’s a lot to think about. Among them are your parents’ potential long-term care needs and their overall estate planning. These are major issues for your parents to address, which can make it hard for them to get around to putting the...
What effect does a no-contest clause have in your will?
When you execute a will, your intent is to express your final wishes so that they are carried out when you’re gone. What you don’t want is your beneficiaries fighting or challenging your will, and thereby frustrating your wishes in the process. To prevent this, you...