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Revocable trusts play key roles in many New Jersey estate plans. They allow the grantor to direct the distribution of assets in accordance with the trust's instructions without incurring the expenses associated with probate. Indeed, in most cases the trust operates...
New Jersey residents interested in estate planning issues may wish to know why their current documents may be obsolete. Because circumstances and law are subject to change, the older documents may no longer have the effect that they once did. Wills and other...
Having a will is important for all New Jersey adults regardless of whether they have many assets or few. Without a will, the state decides how to distribute the individual's possessions after their death. With a will, a person appoints an executor to administer the...
Traditionally, estate plans were written in order to address taxes, family and charity. With changing tax laws, however, there are more directions in which people may focus with their estate plans. The prior focus was due to lower estate tax exemptions combined with...
People in New Jersey may want to think about how they may best help their loved ones with managing their estates after they pass. Good estate planning involves more than simply getting all of the documents drafted and in place. If loved ones are ill equipped to manage...
New Jersey residents who are preparing their estate plans will likely be aware that there are some federal tax implications. For those who have a large amount of assets that will be passed on through a will or trust, more complex planning may be required. Included in...
When a loved one dies, the family might be in shock as they process the death of their family member, and even the rich and famous are not exempt. In some cases, specific examples provide others in New Jersey and across the nation with important insights into what...
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...
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...
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...
