Past posts on this blog detailed the fact that New Jersey residents face the potential of their estate being subject to tax once they pass on. With proper planning, however, they may be able to limit that potential liability. Does the same hold true for federal estate...
If you are setting up an estate plan, there are a number of different topics you need to explore, from the financial impact of choosing a particular type of estate plan to taxes and dividing assets among beneficiaries. However, if you are the parent of a young child,...
After creating your estate plan, you, like many people, might have thought you would have no need to update it frequently – or at all. If your relationships are stable and your plans for your assets are firm, you may see no point in making any changes. Yet, life...
If you are starting to put together an estate plan and want to do your part in reducing the likelihood of estate litigation from your children or other family members, one good idea is to make sure you verify and validate your will in advance. As you may know, a will...
After someone dies, an executor steps up to help administer the estate. In most cases, the executor knows that they'll be taking on the role before the other party's death. In some, they were never informed that they'd be taking on that role. So, if you're appointed...
Choosing your power of attorney was never going to be easy. You have three children, triplets, who all want what's best for you. Putting one of them in charge is not something you're interested in doing, but you think that having all three trying to work together...
You have been working on estate planning over the last month or so, and you're getting ready to go to an attorney for the first time. You want to set up a trust, but you're not sure which one is right for you. Fortunately, there is a lot of information to be had on...
When you're getting older and want to make sure that your estate is not so large that you face taxes, one of the options is to take advantage of the gift tax. The gift tax allows you to give gifts to others up to an allowable amount annually. You don't have to report...
Estate planning is an important part of growing older. As you age, you start to collect more assets, develop relationships with others and gain the understanding that you won't always be here. You want to leave assets behind to those you love and to protect yourself...
There are people who spend a lot of time on the estate planning process, as well as those who put it off for as long as they can. Regardless of your current situation, it's critical that you take steps to prevent estate planning mistakes. One mistake can cost you...
