According to SeniorLiving.org, assisted living facilities in New Jersey cost residents $2,008 to $9,300 per month. When planning for your future living situation, paying for long-term care while preserving your wealth becomes an important consideration. There are...
Asset Protection Planning
4 key elements of asset protection planning
In today's ever-changing financial landscape, safeguarding your assets ranks as a high priority. Asset protection planning is a strategy to shield your hard-earned wealth from potential threats and ensure a secure financial future for yourself and your loved ones. 1....
What is fraudulent conveyance?
While planning your estate in New Jersey, you may encounter confusing legal terms and concepts. Among them is the term 'fraudulent conveyance,' an important concept that carries significant implications for your estate planning process. A thorough understanding of...
Plan to protect your copyrights and trademarks with a trust
Certain types of property may make your estate planning process feel overly complicated. While passing down the house might be as easy as declaring a beneficiary to inherit it, intangible sources of value like intellectual property require more planning and...
Considerations in selecting a trustee
A trust is a common tool used to protect assets or distribute property upon death. While there are multiple types of trusts that can serve many purposes, a common element of all trusts is the naming of a trustee. The trustee is responsible for managing trust assets...
It’s never to late to start protecting your assets
Like many elderly New Jersey residents, you have likely built up assets over the course of your lifetime. As you get older, you may worry about not having a plan set up to protect these assets. Asset protection planning might have been something you thought you would...
Understanding the ins and outs of asset protection
You work and save for your eventual retirement. You also accumulate assets with the desire to pass them on to your loved ones. Not only is accumulating valuable assets important as a legacy to your loved ones but planning exactly what you wish to happen to your assets...
Beware of fraudulent conveyances in your asset protection plan
There are a lot of ways to go about protecting your assets. But not all of them are created equally. You need a plan that suits your needs and protects your wealth in an effective way. However, if you’re not careful in how you go about doing that, then you could face...
The benefits of an irrevocable trust
New Jersey residents who have accumulated a fair amount of assets may consider putting them into a trust for their intended beneficiaries. There are two general types of trust: revocable and irrevocable. One of the biggest differences between the two types of trusts...
Effective asset protection planning requires up to date thinking
In the past, New Jersey residents who were preparing for the future and thinking about asset protection as part of their estate plan needed to focus on the basics. That included cash, investments, retirement accounts, real estate, collectibles and items of sentimental...