Blog: Estate Planning

If you are one of the many residents in New Jersey who is part of the millennial generation, you may have heard your parents or grandparents talk about their wills or other elements of their estate plans. Like a lot of people who are still young, it is easy to think that estate plans are only necessary for people over a certain age. That, however, is far from the truth. Anyone can benefit from having...

Life is strange in so many ways, but perhaps the oddest part is when the role of parent and child seems to flip. As your parents age, you may notice that you begin doing more for them, just as they used to do for you in the past. This is a natural progression and how things seem to work out. Taking on the caregiver role means it is up to you to help your parents...

For many people in New Jersey, the largest and most valuable asset they own is real estate. When you create an estate plan, you probably take create care to ensure your real estate is covered. However, there are many details about including real estate in your estate plan that you should be aware of so that you can avoid mistakes or issues. Fox News explains that state laws will often handle the passing of ownership...

There are a number of reasons that an adult in New Jersey may become unable to take care of his or her own matters. According to the New Jersey Courts, when an adult becomes incapacitated, a probate judge may appoint someone to take care of the individual’s needs. What causes incapacitation? The court has a specific list of impairments that may render a person incapacitated: Mental illness or deficiency Developmental disability Physical disability or illness...

Some in New Jersey have done their part to continue taking care of their families after they pass away. That said, creating an estate plan is one thing, but talking about that plan is something else entirely. Cadence Bank provides advice for those unsure of how to discuss their estate plans with family. This vital conversation is one of the most important that a person can have in her or his life. Lend adult children...

The person who creates a will, known as the “testator,” can outline exactly what they want to happen to their assets after they pass. A will can include any information someone wishes to pass on to loved ones about their property, but a few requirements apply to make the will legally enforceable. Below, we outline some of the most frequently asked questions about creating a will that is valid in The Garden State. What makes...

Forbes recently published an article discussing the four most common myths about estate planning. One of those myths is that it is not necessary to revise an estate plan after establishing it. This myth was listed at number four, but it should have been at the top of the list. It is not only one of the most common myths, but also one of the most dangerous. In our busy lives, it is already a...

Life can change in the blink of an eye. As such, it is pretty safe to assume that things can change a great deal over the course of several years, including a person’s financial situation. This can lead to an heir receiving a much smaller inheritance or even no inheritance upon the death of a loved one. In many cases, beneficiaries of a deceased party are completely unaware of a decedent’s financial affairs. While the...

Many people in New Jersey have an opinion on what end-of-life medical care they would like to receive when the time comes. There are a variety of legal documents that a person can execute through estate planning, to ensure these wishes are met. Two of these documents are a power of attorney and a living will. A health care power of attorney is a document in which a person designates someone to make health...