Whether you own rental units or an industrial complex in New Jersey, a valid will generally includes instructions regarding which heir receives a particular property. The transfer of legal ownership, however, takes place by submitting your will to probate court....
After you finish creating your estate plan, you must go back and revisit it every so often. You want to ensure it remains up to date with your current life circumstances. But reviewing your entire estate plan every few years is a Herculean task. Is there any way to...
Probate is a helpful process that ensures the legality of the handling of your estate after your death. However, it can also be an expensive process or at least one that eats into the assets you leave for your heirs. U.S. News and World Report states that it is...
A person who has a pecuniary interest in preventing a will from going to probate has the right to file a contest. In other words, someone who stands to gain if the will becomes invalidated can raise objections, but only before the probate process begins. Because a...
If you pass away with debt to your name, most liabilities should become the responsibility of your estate. Your estate refers to everything you own at the time of your death. The executor of your estate — which is the person you or the courts appoint to manage and...
The rules that accompany estate planning practices keep changing and could eventually affect the transfer of assets to your loved ones. Here are three common areas where mistakes could cost your beneficiaries relative to the assets they stand to inherit from you. ...
Without an estate plan in place, your family may not know what to do with your assets in the case of your death. Likewise, they may not know what to do if you are unable to voice your wishes in case of a medical emergency. Forbes describes several estate planning...
Charitable giving takes many forms and, for many people, becomes an important component of their estate planning. In addition to supporting a cause that means something to them, some estate planning tools allow people to provide a financial legacy for their heirs at...
People engaged in the estate planning process in New Jersey typically have one goal: optimize the opportunities to limit liabilities against their estate. This ensures that they retain as much of their personal wealth as is possible to pass on to their beneficiaries....
Estate planning isn’t finished when you put the papers in your safe deposit box and lock them away. In order for your estate plan to continue to be secure and effective you need to regularly review and update it to reflect current situations. In general, you should...
