As you are developing an estate plan, there are many questions that will come up. If you have adult children, the questions that you might struggle with the most are those that revolve around what each child should get. This is often something that can lead to serious disputes down the road.
Quite a few people in New Jersey right now are probably thinking about the future and wondering if the time has come for them to execute their estate plans. The estate planning process may be simple or complex and you don't even have to complete it all at once. It's a customizable process that you can change and update as needed. If you're thinking about your estate, particularly regarding designating a power of attorney to someone, you may want to fully research the topic first.
There are many things that you can cover in your estate plan. Some of the things that might be covered can be awfully shocking to your family members, especially if you don't let them know ahead of time what your intentions are.
There are a lot things that you have to think about when you are planning your estate. You might not realize it, but you can use your estate to make plans for Fido and Fluffy.
The intent of a trust is the protection and retention of certain assets for a beneficiary. While the legal and financial objectives behind the creation of a trust differ on a case-by-case basis, you may find this estate planning tool to be especially beneficial if you care for a loved one with special needs.
Some people have sizable estates that they know are going to be taxes when they pass away. For these individuals, it might be possible to lower the value of the estate before they pass away so that the estate won't be subjected to exorbitant taxes.