Blog: Estate Planning

Many Haddonfield area residents don’t think about estate planning until they’ve reached the age of retirement. This can be a mistake, though, as nearly everyone should have some sort of estate plan in place. What are the life stages where a person should consider an estate plan? First baby and subsequent children When a couple has their first child it can be a good time to create an estate plan. The estate plan should include...

When preparing an estate plan, the estate planner should think thoughtfully and carefully about what they would like their estate plan to achieve and do for them and their loved ones. They should also be familiar with how an estate plan can help them accomplish their goals for their estate plan, plan for their future and care for their family. Considerations to take into account when estate planning The estate planning process is different for...

Developing an estate plan can be a challenging task. It forces individuals to make uncomfortable decisions centered around their own mortality. For this reason, many people hurry through the process and then try to ignore the documents. Failing to update various aspects of your completed estate plan, however, is a serious error in preparation. Avoid these three mistakes and you can keep your plan accurate and up to date. Failing to account for changing relationships:...

Between 50 to 70% of people across the country do not have a will. Many New Jersey residents who fall into this category may think they don’t need a will, but this could not be farther from the truth. Regardless of one’s wealth level, they most likely have some assets or property that they have an emotional attachment to and want to pass on to loved ones. A will, a legal document that details the...

When a New Jersey couple decides to get remarried they probably don’t consider the importance of estate planning. Generally, considering one’s assets and other important matters after their death is usually the farthest thing from an engaged couple’s mind. However, if a couple gets remarried and doesn’t update their existing estate plan it can be a recipe for disaster. In the midst of planning a wedding, it can be hard to think about estate planning,...

Unfortunately, this year has been marked by death. It is all around us, and if one turns on the TV or opens a web browser, it dominates the news. And, especially for those of us with kids, there is a drum beat to get an estate plan done, sooner rather than later. However, it is hard to know where to start, so this blog will be that stepping stone for our Haddonfield, New Jersey, readers...

Individuals of all ages need to take the time to develop a comprehensive estate plan. This set of documents allows people to determine and clearly state inheritance, powers of attorney, trustees, guardians and countless other factors. It is crucial, however, to remember to include instructions surrounding digital assets as well as physical ones. As years go by, people are starting to take more and more advantage of digital assets based on their convenience and ease...

It is a misconception that estate planning only involves executing a will. While a will is an important legal document for New Jersey adults to draft and execute, there are other tools that individuals can and should consider creating in order to protect their interests. One of those documents is an advance health care directive, and this post will discuss them in more detail. What is an advance health care directive? Many people plan for...

Your business is not inherently immune from probate – the lengthy, time-consuming, often-expensive legal process that occurs following one’s passing. Without proper preparations, this means the business’ operations can be derailed and held up indefinitely, potentially impacting its finances. In a world where one lost day can make or break a company, being stuck in business purgatory for a stretch of time may be crippling. This is why a business owner should integrate a succession...

It is always a good idea for New Jersey residents to have an estate plan regardless of the circumstances. However, when there is a national health problem in progress, that can make it even more vital to have estate planning documents or update the ones that are already in place. It is difficult to think about life and death issues at any time, and knowing which documents to create and update is essential. A fundamental...