Estate Planning

There are many different types of trusts New Jersey residents can use to protect their financial legacy and limit how much their estate may be taxed. However, it is important that in addition to choosing the right type of trust, they also designate the right person to...

People in New Jersey should create an estate planning checklist to ensure that they have everything they need in their estate plan. While estate planning provides individuals the opportunity to get ready for the unavoidable, it also allows them to dictate what should...

When people in New Jersey are creating an estate plan, they may want to use a living trust. A living trust allows a person to keep control of assets after placing them in the trust. Married people may place assets in a trust and name one another as co-trustees. With a...

One of the estate planning mistakes that many New Jersey residents make is not using a trust to hold assets for their adult children. Trusts can be particularly helpful if an adult child has unhealthy spending habits. Assets that are left outright to adult children...

Some New Jersey residents who are creating an estate plan might wonder if they should take steps to avoid probate. There are advantages and disadvantages to the probate process, and a person should consider them carefully before deciding how to set up the estate plan....

New Jersey residents and others who are thinking about their legacy may want to start creating an estate plan today. At a minimum, an estate plan will contain a will or a trust in addition to a health care and financial power of attorney. The will or trust will give a...

People in New Jersey who have created an estate plan may want to review that plan. In December, Congress passed a law that changed the amount of the estate plan exemption from $11 million for couples to $22 million. This means that people who have created trusts and...

New Jersey residents can't predict when they may find themselves incapacitated. If they do, how their affairs are carried out depends on how their estate plan was created. If the plan has a power of attorney, whoever was granted that power has the authority to manage...

A common misconception people have is that estate planning is for wealthy individuals with many assets. Some people in New Jersey also believe that estate planning is meant to be done later in life. While it's true that a tax filing isn't required unless assets and...

Many New Jersey residents are aware of the new tax bill that was passed by Congress and signed by President Trump. Kristi Noem, who is a Republican congresswoman from South Dakota, has campaigned for a repeal of the estate tax based on her family's story. According to...