Planning for the future of your estate in New Jersey requires a clear understanding of the legal tools available to protect your assets and your family. Two of the most common options are wills and revocable living trusts. While both serve as foundations for estate...
Estate Planning
A new child, a new “what if”: Protect them with an estate plan
Bringing a new child into your family changes everything, including how you think about the future. That first time you hold your child in your arms can bring new perspective and a need to offer protection. One key tool that can protect your child well into the...
Is estate planning just for the wealthy?
No, estate planning is not just for the wealthy. There is no asset limit that dictates whether or not you need an estate plan. This is a common misconception, however. It is easy to imagine that someone with assets in the millions needs to make a plan to pass those on...
The importance of a broad approach when estate planning
Estate planning is more than preparing documents for the future. It is a thoughtful process that helps you organize your assets, define your wishes and ensure that your loved ones are supported when you are no longer able to manage your affairs. It’s important to look...
Can you be too young to draft an estate plan?
Studies have found that the average American does not have an estate plan. One of the top reasons that people give is that they are waiting until they are older, implying that they believe they are currently too young. Often, this belief centers around the idea that...
Estate planning for single parents
Single parents carry tremendous responsibility. You are the primary source of stability, guidance and financial support for your children. Because so much falls on your shoulders, estate planning is essential. Having the right legal documents in place can provide...
2 assets that can skip an estate plan
The majority of a person’s assets can be passed down to the next generation through their estate plan. Estate planning is certainly about more than just assets, as it can also address medical decisions and things of this nature. But a large percentage of the process...
When do financial powers of attorney terminate?
Financial powers of attorney protect people from the challenges of sudden incapacitation. When medical emergencies occur, other people may not be able to offer practical support without prior planning. Financial powers of attorney help ensure that there is a competent...
Can you control when a beneficiary gets their inheritance?
Typically, if you list someone as a beneficiary in your will, they get their inheritance when you pass away. There can be a bit of a delay as the estate goes through probate. The estate executor has to do things like inventory all of the assets and pay off financial...
Why do young adults need their own estate plans?
Many people think of estate planning as a retirement-related undertaking. Others associate estate planning with parenthood or the acquisition of specific, high-value assets, such as a home. Older adults and those who have achieved certain life milestones absolutely...
