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...
Estate Planning
Is it time to create an estate plan?
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...
You could easily make one of these estate planning mistakes
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...
How does a power of attorney fit into an estate plan?
Estate planning should be based on the individual needs and desires of plan creators. While many of the estate planning tools that are included in individuals' end of life plans focus on how their property will be dealt with after their deaths, some serve the...
What does it mean to be of “sound mind” when planning a will?
Executing a will is an important legal process that can alter the way a person's estate and assets are distributed when they pass away. Because of this, some beneficiaries may be greatly enriched by a loved one's estate plan. Similarly, some who feel as though they...
Fitting digital assets into an estate plan
Digital assets are emerging as a new source of investment and wealth for individuals all across the United States and even the world. In New Jersey, residents may not be familiar with cryptocurrencies like Bitcoin and other online only resources that individuals may...
What is included in an end-of-life estate?
When New Jersey residents pass away, the items that they owned must be properly distributed to their loved ones, creditors and other relevant parties. The things and assets that they leave behind constitute their estate and depending upon the type of estate plan that...
Estate planning when you have a chronic illness
It is not unusual for a person in New Jersey to have a chronic illness. Some chronic illnesses, such as Parkinson's or Alzheimer's will become progressively worse over time and will eventually make it difficult for a person to communicate their wishes or care for...
Avoid making these common estate planning mistakes
Most people in New Jersey execute an estate plan with the intention that it will meet their wishes and benefit their heirs. However, a poorly drafted estate plan or an outdated estate plan can lead to undesirable complications when it comes to enforcing your wishes....
Why is it prudent to review your estate plan from time-to-time?
Some people in Parsippany have executed a comprehensive estate plan, including a will, trust, living will, and power of attorney. However, it is a mistake to simply file that estate plan away allowing it to collect dust as the years pass on. In fact, there are several...