Almost every New Jersey resident has some sort of digital asset. It's almost impossible to avoid having a social media account, online bank account, music library or other online accounts. There was a recent New Jersey law regarding digital assets that went into...
Estate Planning
Estate and gift tax limits for 2018
Many New Jersey area residents take advantage of the gift tax each year. The IRS recently announced the amounts of the estate and gift tax limits for 2018. Starting in 2018, the estate and gift tax exemption is $5.6 million for each individual or $11.2 million for a...
Estate planning mistakes to avoid
Many New Jersey residents recognize the value of creating an estate plan. An estate plan is a way to preserve a family's assets for future generations and create and maintain a family's legacy. But, when completing an estate plan, there are certain mistakes a person...
An estate plan should be revisited
Many families in Parsippany have taken the time to create an estate plan. This is the best way to make sure a family's assets are passed to the next generation and that their legacy continues. Once an estate plan is created, it is not a fixed document. Those that have...
The importance of estate planning conversations
Awkward conversations are hard for almost anyone in New Jersey. People usually don't go out seeking to have a difficult conversation with another person. But, many times these conversations are important and the estate planning conversation is no exception. Estate...
Components of a good estate plan
Estate planning is probably one of the last things on the mind of Northern New Jersey residents. But, having an estate plan in place is important for almost anyone, regardless of income or life circumstances. A will is one component of an estate plan. This is where a...
Why you should have a living will
I am sure you have heard the saying, "out of sight, out of mind." It is a common phrase referring to things that we do not think about until we have a need to. We typically do not think about our hot water heater unless it breaks. We do not think about the tires on...
Even millennials should have an estate plan in place
Despite what one's opinion of the millennial generation is, young adults need an estate plan just as much as older adults. After all, no one can predict when they will pass away and no one is guaranteed a long life. It is best to be prepared. Many millennials work...
Do I need an advanced heath care directive?
Planning for illness or incapacity may feel unnecessary while you are healthy. Most people delay planning for incapacity as long as possible. Unfortunately, accident or injury can occur at any age or fitness level. It is important to put safeguards in place not only...