Blog: Estate Planning

undefined When planning for the future, one of the most important steps you can take is creating a comprehensive estate plan. An estate plan ensures that your assets are distributed according to your wishes, your loved ones are provided for, and that your healthcare and financial decisions are carried out even if you are unable to make them yourself. At While every estate plan should be customized, there are several key documents that everyone...

undefined Planning for the future of a disabled family member involves navigating a complex web of legal and financial considerations. At Ritigstein Law, we understand the profound emotional and practical challenges families face in ensuring their loved ones receive the care and support they need. One of the most effective tools in this planning process is the Special Needs Trust (SNT). This article aims to provide comprehensive insights into Special Needs Trusts and how they...

undefined Planning your estate Trusts can be tailored for many purposes, but they are especially useful for protecting assets. Like your will, a Living trusts The two main categories of trusts are testamentary trusts and living trusts. Simply put, a testamentary trust goes into effect upon the person’s death. A living trust goes into effect while the person is alive. When you create a living trust, you place assets in a trust, where it...

undefined In New Jersey, the legal challenge of undue influence within Understanding Undue Influence in New Jersey What is Considered Undue Influence? Undue influence occurs when a person exploits their relationship to manipulate someone else's estate decisions. In New Jersey, proving undue influence involves demonstrating the influencer's motive and opportunity, leading to a will that deviates from expected norms. These cases, emotionally charged and legally complex, underscore the necessity for professional guidance. The Psychological...

undefined Estate planning Understanding Estate Planning Estate planning involves preparing for the distribution of a person's wealth, care of dependents, and management of assets after their passing. It's more than just wills; it includes appointing power of attorney, healthcare directives, and establishing trusts. A common misconception is that estate planning is only for the elderly or the ultra-wealthy. In reality, estate planning is a vital step for everyone, as it ensures that your wishes are...

Estate planning The Importance of Having a Will A will is a legal document that specifies how you want your assets distributed after your death. In New Jersey, if you die without a will (intestate), your assets are distributed according to state laws, which may not align with your personal wishes. Here’s why having a will is important: Control Over Asset Distribution Guardianship Decisions Minimizing Family Disputes The Role of Trusts in Estate Planning Trusts...

When couples are heading for divorce, they rarely think of their estate plan. Often, divorce is more about getting through it. But, for those going through the process, you should know that it can have a significant impact on your estate plan both legally and what you actually want the estate plan to contain after the divorce is finalized. New Jersey Statutes 3B:3-14 According to New Jersey Statutes 3B:3-14, a divorce or annulment automatically revokes...

An estate plan helps assure that your wishes are carried out after your death or if you ever become incapacitated. For anyone who is at least 50, estate planning is essential. But common mistakes can undermine your planning. An estate plan helps assure that your wishes are carried out after your death or if you ever become incapacitated. For anyone who is at least 50, estate planning is essential. But common mistakes can undermine your...

If you own a business in the Garden State and you want to pass it on to your family members as part of your estate plan, you need to consider some key steps and concepts. New Jersey business succession planning is the process of preparing for the transfer of ownership and management of your business when you retire, die or become incapacitated. Identify your goals and objectives What do you want to achieve with your...

Although you’ve put in a lot of thought and work to create your initial estate plan, it’s important to realize that these documents should change as major life events occur. Otherwise, your estate assets might end up passing down to someone you never intended to inherit in the first place. Neglecting to update your estate plan can also create confusion, which could lead to litigation over your estate. As a result, your loved ones might...