Blog: Estate Planning

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...

Much like estate planning is not for the old, considering elder law issues is not something for just the elderly to consider and work through. A young adult at the ripe age of 18 could begin this process; however, no matter when an individual begins the elder law estate planning process, it is important to note that there are different stages of this process. While drafting an estate plan that deals with elder law issues...

Discussing the future can be easy when you’re making fun vacation plans or are looking forward to a significant milestone such as marriage or the birth of a baby. But when it comes to difficult topics – like what will happen after your parents pass away – those conversations are much harder to begin. However, adults with elderly parents need to have these conversations. Not only for your sake but your parents’ sake as well...

If you are a newly separated person and you and your spouse are preparing to get a divorce, you know that every aspect of your life may feel up in the air right now. It can be overwhelming to be faced with a seemingly unending list of decisions to make, yet you must work through them one by one. Your estate plan may feel like something you can address down the road, but the reality...

One of the advantages of creating a charitable trust is that it allows you to continue to fund worthy causes in perpetuity. However, problems can arise specifically because of the enduring nature of a trust. Due to changes in circumstances over time, it may become impossible, impractical or even illegal to fulfill your stated intentions through your charitable trust. According to National Paralegal College, the court may apply the cy pres doctrine in a situation...

For people who are philanthropically minded and able to make sizeable donations to charitable organizations, combining their donor activities with their estate planning can be wise and beneficial to both their intended charities and to themselves. A charitable remainder trust may provide the right vehicle for people in these situations but understanding how this type of trust works is important. As explained by Fidelity Investments, a charitable remainder trusts allows a person to put assets...

No matter the size or scope of one’s estate in Haddonfield, the estate planning process can be quite complicated. It is for this very reason that estate planning experts recommend that those involved in it be as transparent as possible. Many experts might also say that this is wise to include would-be beneficiaries in it (as preparing people for what their roles and/or their interest in an estate might be prior to it being administered...

Many people assume they will be named as the executor of a parent’s will, but that may not always happen. Wise adults do not simply identify a person to be a will executor based on familial relations. The job of an executor should be thought of as just that – a job – instead of a ceremonious title bestowed on someone. Understanding what an executor’s responsibilities are is important when determining who to name in...