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Thanks to the Supreme Court decision on June 26, same-sex couples can now enjoy the same rights and privileges of marriage as heterosexual couples, and this includes the same rights in estate planning. While marriage was already legal for gay couples in New Jersey, a...
For some New Jersey residents, a will may not be the best estate-planning tool. In some cases, a will may get tied up in probate for months. Probate can also be expensive. However, families of individuals who opt for do-it-yourself estate planning tools may still find...
Most New Jersey residents who are contemplating the preparation of their wills know that one of the important tasks is the appointment of an executor. This person is entrusted with a wide variety of responsibilities, one of the most important of which is ensuring that...
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...
The probate process in New Jersey is a legal method that acknowledges a will and enables the choice of an executor charged with accounting for the assets and administering the way the assets are distributed. Whether or not probate occurs, the assets must be tabulated...
