How Do You Know if You Can Trust a Trustee? If you have a trust, you are probably already aware that a great deal of responsibility lies on the shoulders of your trustee. This individual is essentially in charge of overseeing the entire trust after you are gone. Choose a trustworthy trustee, and you can […]
What is the Difference Between a Will and a Trust in New Jersey?
What is the Difference Between a Will and a Trust in New Jersey? Estate planning is an important undertaking at virtually any stage of your life, but it is not always a straightforward process. While you might have a clear idea of your beneficiaries and how to handle your estate, the legal world can often […]
Tips to Follow When Planning Asset Distribution
Tips to Follow When Planning Asset Distribution Asset distribution refers to the process of having your assets divided between loved ones after your death. Once any remaining bills and debts are paid off, your assets may be distributed to those included in your living will, such as your children, siblings, and any other relatives […]
Special Needs Trust
Special Needs Trust Children with special needs, or who developed special needs or disabilities after birth due to an accident or injury, typically need someone to handle their financial affairs. If this is your circumstance, you have specific considerations when it comes to your estate planning needs. Parents of special needs children need […]
Last Will and Testament vs. Revocable Living Trust
Last Will and Testament vs. Revocable Living Trust Most people have a bit of a Hollywood image of how assets of a decedent are distributed following their death. Huddled in an office, the potential beneficiaries listen to a Last Will and Testament read by a lawyer and surprises and shocking news ensue. One […]
3 Common Questions About Revocable Living Trusts
Although a simple will can be part of an estate plan, the use of revocable living trusts has increased significantly in recent years according to AARP. Although you might consider a living trust because of the savings in money and expense of the probate process, this estate planning tool can provide many other advantages over […]
New Jersey Elder Law Attorney Discusses Living Trusts
The protection of property and assets is becoming more and more important to our population as we move forward. In today’s world, valid documentation of your wishes is essential if you plan to set aside property for the benefit of another person upon your passing. Most of us are familiar with a last will and […]
Who Should Be My “Back-Up” Trustee?
Living trusts and other forms of trust are a popular method for individuals to provide for the disposition of their assets upon their death while retaining control over and use of these assets during their lifetimes and not exposing themselves to the publicity of probate court. A simple living trust for an individual with a spouse and children […]
What is a Will Contest?
What is a Will Contest? The word “contest” implies a struggle, battle, or competition between two or more opposing individuals and/or forces. This makes it an appropriate word to describe what happens when the validity of a will is challenged in court. Will contests are formal legal challenges make to the admissibility of a decedent’s will to probate. […]
Inherited IRAs & the Taxes Involved
Receiving an inheritance can be a blessing, but there are typically tax obligations involved including the inheritance of an IRA. If you inherit an IRA, you should check with an attorney or financial advisor as soon as possible to find out what your options are. IRAs are personal savings plans that allow you to set […]
