January 2015 Archives

Keeping real estate out of probate in New Jersey

The probate process can create many inconveniences for the survivors of a loved one. Those with significant assets may look for ways to avoid probate, but those with few assets may equally benefit from planning to avoid it if possible. If real estate is the only asset to consider, this can be handled efficiently.

Common problems with trusts in New Jersey

New Jersey residents who wish to set up a trust to administer their estate after their passing may wish to review some of the common errors made by benefactors. A trust can be a powerful tool for settling an estate, sparing the family the costs of probate and the publicity that comes with it. However, if it is improperly set up or mismanaged, there can be serious consequences to the estate.

Why wills sometimes need to be updated or changed

Long after a will has been drafted, the life circumstances of the New Jersey testator may have changed in a dramatic way. People may have gotten married, new children may have been born, the maker may have divorced, a spouse may have died or the maker may have simply reached middle age. A regular review of an existing will may review updates or changes that are needed in order to reflect the maker's estate and beneficiaries correctly.

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