Parents often joke that their children form the foundation of their retirement plans. They invest in their lives and build them up to be great and successful people so they can take care of them when they are old. In many instances, this is precisely what happens. ...
Bridgewater New Jersey Estate Planning Law Blog
How does an estate plan help your business?
When you own a business, there are a lot of considerations. One consideration that some owners forget about is the estate plan. You know that you need an estate plan for your personal life, but does it help your business? According to Huffington Post, if you spent...
Detailing New Jersey’s intestate succession guidelines
When a loved one dies in Bridgewater, it is natural for you and others to have concerns over the distribution of their estate. Your hope is that they stipulated how they wanted their various assets and properties distributed in a will. Yet what if they did not? Many...
What are some common estate planning errors?
Estate planning is often a daunting process, and you may avoid or postpone it because you do not know where to begin. The American Association of Retired Persons reports that this is a common issue and that 60 percent of adults in the United States do not have an...
What are the two phases of estate planning?
According to Kiplinger, 56% of Americans do not have an estate plan when they die. Procrastination born of morbid dread is the reason typically cited for this. However, maybe the reason that you have not yet started estate planning is that you do not know where to...
Becoming the administrator of an estate with no will
When someone dies without a will, it can leave family members unsure of what their next step should be. If you want to become the administrator of your loved one's estate, you have to follow the requirements carefully. We have often assisted people through the probate...
How does New Jersey’s inheritance tax work?
Inheritance taxes are one of the most confusing aspects of estate planning and asset protection law. New Jersey's inheritance taxes have a few twists and turns that you should know as you're making plans. 1. Your relationship to the deceased determines the inheritance...
What protections do discretionary lifetime trusts provide?
There are many different types of trusts that exist. A discretionary one is quite common. It's essentially an asset protection tool that allows for a grantor to appoint a trustee to make distributions. This type of trust is also different from other types of them in...
What are the benefits of a medical power of attorney?
A medical power of attorney is an estate planning document that designates someone as another person's agent when it comes to making medical decisions. That agent can make decisions that, legally speaking, work as if they came from the person themselves. It comes into...
Cancer affects what estate planning documents to draft
It's important for everyone to have an estate plan in place no matter how healthy or young that they are. Cancer and other illnesses don't discriminate after all. You can fall ill with a medical condition at any point in your life. If you've been diagnosed with cancer...
