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Today, probate has a bad reputation when it really shouldn’t. It is often reiterated that it is something you want to avoid. As such, many individuals specifically try to avoid probate when beginning the estate planning process. But in some situations, probate cannot...
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...
Most New Jersey residents assume that once a will is signed, all the issues of distributing a person’s estate have been settled. Unfortunately, many beneficiaries or potential beneficiaries of a will may have different opinions about how the estate should be...
In New Jersey, estate administrators will have a significant role in the distribution of a person’s assets after they have died. While it is an emotional and sometimes overwhelming time, probate is necessary to ensure the testator’s property will be distributed as...
When people agree to be a personal representative for the estate of a loved one in New Jersey they probably do not know everything that it entails. They may know at a basic level that they will be responsible for administering the estate to ensure that the...
Most Bridgewater area residents do not have a lot of experience in dealing with a person’s estate after they pass away. It’s not something we do on a regular basis, so when the time comes it can be confusing and stressful. If you find yourself as an estate executor...
Many individuals in New Jersey may owe a “fiduciary duty” to another person without knowing which “duties” are expressly owed to the other person. A fiduciary duty arises whenever one person is chosen to manage the assets of a deceased person’s estate, manage the...
The executor of an estate has an important responsibility to ensure that the deceased person’s assets are distributed fully and correctly. Before the assets are distributed, he or she may be tasked with opening a bank account for the estate, creating an inventory of...
One of the personal representative’s tasks is to complete what the law calls an inventory of the estate. Legally, a personal representative may file an inventory 3 or more months after receiving a formal appointment. Courts in some cases may waive the requirement for...
While many New Jersey residents try to avoid probate, for many others, executing a will that goes through the formal estate administration process is their best step. Even for people who have a more complicated estate plan may contemplate a more streamlined probate...