As a resident of New Jersey, you must create your estate plan in accordance with the state law. Once you have it finished, you will still have to revisit it. Unfortunately, it is a common misconception that you will never have to edit your estate plan barring big life...
Estate Planning
What duties does an estate administrator have?
When someone designates you as the executor of his or her New Jersey estate in his or her will and you agree to act as such when (s)he dies, you then must take that estate through probate. Obviously some estates have more assets than others, and the more assets, the...
Should I name a backup executor?
There are a number of important qualifications a good executor should have. While just about any person in New Jersey can serve as an executor, picking someone who is honest and effective is essential to making sure your estate wishes are honored. However, your estate...
What should you consider when choosing an estate executor?
As New Jersey residents and families prepare their estates for end of life issues, it is easy to get overwhelmed, frustrated and even depressed. While those feelings can threaten the desire to have a plan in place, it is vital that you stick with it until your estate...
Review of estate planning can be critical to a second marriage
Second marriages, particularly among people in their later years, are becoming more and more common in New Jersey. As couples embark on a happy period in their later years they are endeavoring to ensure that second spouses are provided for in estate planning should...
New tax law can impact estate planning
The New Year's celebrations are over in New Jersey and many people's thoughts are turning to tax season. There are many changes as a result of changes in the tax law that may prompt people to review their estate plans and tax strategies. It is a good idea to...
Estate planning and probate — what is it?
As the new year begins people consider changes that they may wish to make. These changes may involve estate planning, particularly if a life changing event such as a marriage or the birth of a child has occurred. Many terms are thrown around about estate planning, and...
New estate tax limits impact estate planning
The old year is ending and a new one is about to begin in New Jersey. With the beginning of 2019 comes the implementation of new tax laws that determine how large an estate can be before it is subject to the federal estate tax. The estate and gift tax exemption for...
Estate planning and information sharing
Dying without a will or trust in place has gotten a lot of attention in recent months and years as several prominent people have died without a will or a trust. Estate planning is vital to ensuring that one's final wishes regarding health care directives, burial plans...
Estate planning can be vital if a person owns a business
Having a will or trust in place can be important for anyone living in New Jersey. Most people have assets or other property they would wish to protect. Estate planning can be particularly important if one is a business owner and has other family members involved in...