There are many advertisements on the Internet for do-it-yourself estate planning. These ads are certainly tempting because they claim you can get the essentials done on your own for less money. However, do-it-yourself estate planning is generally not going to result...
Estate Planning
When and how can spendthrift trusts benefit an estate plan?
One of the main purposes of a trust is to protect the assets in the trust for the benefit of the beneficiaries. Unfortunately, sometimes beneficiaries can get into financial trouble that threatens the integrity of the trust. An estate plan that includes a spendthrift...
Can I make gifting part of my estate plan without being taxed?
Gifting can be an incredibly satisfying part of estate planning. By gifting assets during your lifetime, you get the enjoyment of seeing what your loved ones do with this part of their inheritance. One concern you may have about gifting, however, is whether these...
Can a revoked will be revived and become effective again?
In New Jersey, people who have taken the initiative and created an estate plan might want to change it as the need arises. In some instances, the entire will could be a revoked. This is often done by simply destroying it or having it destroyed under the person – the...
How to include your pet in your estate plan
Dogs and cats are friendly, funny creatures that provide us with companionship and unconditional love. We provide our pets with the best care possible, but have you ever thought about what would happen to your beloved pet if you pass away? Many people in Bridgewater...
How to select a guardian for your children
It will come as no surprise that the selection of a guardian for your children is an important decision parents will not take likely. It is helpful to know what to consider when making such a significant designation that can help estate planners choose wisely when...
Crypto investors should know asset protection strategies
It was not long ago that New Jersey residents who were creating an estate plan and wanted to protect their investments were thinking about concrete assets like real estate, automobiles, collectibles and cash. As time passed, however, different forms of currency have...
3 facts about durable powers of attorney in New Jersey
Estate planning covers much more than just preparing and executing a will. Bridgewater residents can take proactive steps to protect their interests and assets for the future and their beneficiaries by fully understanding the scope of estate planning decisions they...
Should I include cryptocurrencies in my estate plan?
While digital assets have recently become a hot news topic, they have actually been around for decades. And, while most do not have the million-dollar NFTs or vast amounts of cryptocurrencies, like Elon Musk, many people have some cryptocurrency as part of their...
Should you consider a spendthrift trust?
Taking financial care of your loved ones involves many decisions, some of which can be difficult. Not all beneficiaries are the same, nor should they necessarily be treated equally. Giving someone a large amount of money in a lump sum may not be the smart thing to do,...