Every adult in New Jersey should have a last will and testament. Even if you do nothing else for your estate plan, you should write down your final wishes in a basic will. A basic will is vital even if you have relatively few assets and a small family. Distribution of...
Estate planning is essential because it allows you to pass on your property to those you want to. Because of digital property like social media accounts and cryptocurrency, there are a few more considerations than in the past. Digital property You may name a specific...
In many instances, when a person remarries, they treat their spouse's children as their own. However, it's important to make sure that stepchildren are included in the estate planning process if you want them to benefit from your assets when you pass away. If you're a...
All predetermined estates in New Jersey will include the naming of an executor who is appointed the authority and responsibility to ensure a will is carried out. Choosing the right individual for an executor is vital for successful disposition of a will and...
Going through New Jersey probate court after a loved one dies can seem very tedious, but it plays an important role. Probate court is a necessary practice that assigns a monetary value to all of a recently deceased person's assets and distributes them fairly to the...
New Jersey allows you to name a person, an organization, a trust or an estate as a beneficiary. When you're naming your beneficiaries, there are several mistakes to avoid to reduce the chances of problems in executing the will or estate plan. Referring to...
New Jersey repealed its estate tax in 2017 but has retained its inheritance tax. This tax varies from 0% to 16% with rates that increase when the number of inheritances increases. The government decides a specific tax rate for every beneficiary. Who receives the...
Ensuring that your wealth isn't exposed to creditors, divorce or taxes can be achieved by registering a legal trust. Every estate is subject to liabilities, but there are legal ways to reduce or eliminate your financial risks. One of the great risks that estate owners...
Your estate planning in New Jersey may include a successful business in your possession. Estate owners need to plan every detail of their estates for a legal transfer. The success of a business doesn’t inherently continue without its original owner. Only when a...
While it may take some effort, completing an estate plan could be worth all the work. Estate plans and their corresponding documents establish directives and guidance to family members and others under various circumstances. For example, a last will and testament...