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Most New Jersey residents probably know what having a power of attorney means. A power of attorney is a document you can draft as part of your overall estate plan that allows you to select someone to make major medical, financial or business decisions for you if you...
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...
A lot of people oversimplify the estate planning process. While it involves figuring out how to distribute your assets once you’re gone, it’s also about your protecting legacy. When you look at it through that lens, the estate planning process becomes all the more...
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...
You have many duties as the administrator of an estate in Bridgewater. One of these duties is to inventory the deceased’s assets. But did you know you also have to inventory the deceased’s debts? It is an important part of the probate process, and it is one of your...
Estate planning involves far more than deciding how to distribute assets after a person’s death. One important tool – a living trust – can help protect a person’s assets while they are alive and provide for the distribution of those assets after their death. A living...
Estate planning in New Jersey is not only for the very wealthy or the very old. It is important to plan your estate no matter which assets you wish to pass down and no matter how much your estate is worth. Everyone should have an estate plan and it becomes even more...
When a New Jersey resident begins to consider making an estate plan, one of the first questions asked is “How can I protect my assets from the claims of creditors?” Estate law has many answers to this question, far more than can be described in a blog post. However,...
An effective estate plan is not limited to the individuals who want to pass on their property and money after they die. It should also include an estate’s heirs and beneficiaries. Upstream planning Effective estate planning includes upstream planning, which focuses on...