Getting married more than once is a common occurrence among Americans According to the Pew Research Center, 40 percent of marriages in 2013 were remarriages. Another survey has found that an estimated 9 percent of U.S. residents have an out-of-date will and 63 percent had none. New Jersey residents who are getting remarried or have children from a previous relationship should make sure to update their estate plan.
Only about 20 percent of Americans create a living trust, but there are many advantages to doing. One of the biggest advantages for a New Jersey resident is to avoid the probate process, which can delay the transfer of of decedent's assets by up to a year. If properties exist in more than one state, then a person may even have to deal with multiple probate processes