In the past few weeks, we've talked about what concerns and actions take place during the probate process and how you can help protect your heirs and assets through trusts. While many people in New Jersey aren't worried about the federal estate tax given the high threshold for that tax, you should still be concerned about taxes in general if you are planning an estate or expect to inherit assets.
Probate is the word that describes the legal process by which an estate is administered through the courts. Often, people talk about avoiding probate because it is seen as expensive or stressful during a time when families are already dealing with grief. Probate is not always completely avoidable, but you can make the entire process easier through solid estate planning and a strong understanding of what is involved.