Blog: Estate Planning

Whether it be due to a medical condition or simply a result of getting older, there may come a day when you are no longer able to make decisions for yourself. In case that day comes, experts recommend choosing a trustworthy and responsible person to make financial decisions on your behalf. You can assign them responsibilities during the estate planning process by signing a financial power of attorney (POA). Choosing an agent for your financial...

When many people think about estate planning, they focus on money and assets. They think it is all about who gets what after they pass. However, a full estate plan includes much more, like powers of attorney, trusts, medical proxies, guardians, etc. And, for parents, your guardian designation can be one of your most important decisions. Who cares for your children? If you pass, who will care for your children? If you and your spouse...

No matter what your age and no matter where you are in your life, having an estate plan is important and necessary. The fact is that everyone has assets and a legacy that they wish to pass down to someone who is near and dear to their heart. No matter how large your estate is, it should be your decision where you want your assets to go so that your legacy is preserved and so...

For readers of this legal blog, you know that we commonly post on estate planning topics. And, in a recent legal blog post, we discussed the topic of estate planning with children. In that post, we discussed guardians for your minor children and the considerations you need to make for minor, adult and disabled children. In this blog post, we will discuss some additional considerations for estate planning with children. Life insurance Life insurance can...

When you die, you can’t take any of your possessions with you, which means that you need to arrange to will them to people who are close to you. These possessions include personal property (such as cars, clothing, jewelry, etc.) and real estate properties. If you plan ahead, you will be able to ensure that those people whom you wish to inherit assets from you actually receive them. In most states, a person’s assets are...

If you are estate planning in our state, you know that there are various options and choices to make. One of the most important considerations is how to help your beneficiaries with probate or avoid it entirely, and how to manage your assets. One of the choices New Jersey residents have is to create a trust. The most powerful type of trust is known as an irrevocable trust. What are irrevocable trusts? As with other...

If you are a parent, you know that you should have an estate plan. Your minor children would be helpless if you and your spouse pass, which is why estate planning becomes urgent once you see that extra line on the pregnancy test. However, many Haddonfield, New Jersey, parents struggle with what is needed. What you need depends on them Before beginning your estate planning journey, think about your goals. For minor children, your goals...

A common question estate planning attorneys get is, “What happens if I die without an estate plan?” In a sense, everyone has a default estate plan through their state’s laws of intestacy. The laws of intestacy of the state where the deceased is domiciled are the state laws that control. What are laws of intestacy? The term, “laws of intestacy” refers to the state laws that govern who receives what is left in a deceased...

You have worked hard and you have done well. Your life includes a satisfying career and a family. You have been fortunate enough to accumulate some significant, valuable assets that you intend to give to your spouse and others of your choosing eventually. Before others inherit your assets, you may wish to pass those assets to your spouse. If that is the case, you might consider a joint will with your spouse . So, what...

When people are discussing estate planning, they tend to automatically think about a will. While this is undoubtedly a key document, there are others that can be essential to serve one’s goals. Depending on the circumstances, a trust might be a necessity. One type of trust that should be understood is a special needs trust. This will be useful for those who have a loved one who is getting payments from the government through a...