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You probably don't have to think hard to remember the last time you saw someone using their cellphone while driving. More specifically, you might remember how it affected their driving ability. Maybe they were driving slowly, stopped just short or drifted closely to...
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...
A New Jersey resident who is creating an estate plan might think primarily of putting together a strategy that will pass assets on to loved ones. However, making a plan that covers potential incapacitation is another important aspect of estate planning. Many seniors...
