It's October and the holiday season will soon be here. It is often said, by people young and old in New Jersey, that they just have too much stuff. There has been a move of late to give to charitable contributions in lieu of gifts to loved ones. Another option would be to get the young adults in one's life started on a long term savings and retirement plan or other aspects of estate planning.

A $5,500 contribution can be made to a Roth IRA and a traditional IRA — to one or the other or to a combination of the two. The total of the two accounts cannot exceed $5,500. Be sure to verify that the recipient's income falls within the guidelines. A single person earning $118,000 or less is eligible for the full contribution amount.

For older loved ones nearing retirement age, a session with a financial planner or an estate planning attorney could yield great benefits. In today's changing economy, many people have questions concerning their preparedness for retirement and may not know what to ask or where to begin. The gift of this advice could indeed be priceless.

Consulting with an experienced estate planning attorney in New Jersey can yield more information in these areas. Giving the gift of financial security is something that can be appreciated far into the future. A knowledgeable attorney can review one's wishes and may be able to make recommendations for this gift-giving season. One's loved ones are sure to be appreciative and grateful for a gift that will continue to benefit them into the future.