Most of our adult life is spent focusing on the work we need to do to provide a life for ourselves and our families. All too often, though, that’s all we end up doing. Too few of us either don’t have to opportunity to prepare for a sound retirement, or we just fail to take the steps needed to address those future needs. Experts suggest that more than half of all American adults have less than $10,000 in retirement funds available right now. When it comes to New Jersey retirement concerns, … [Read more...] about New Jersey Retirement: Is Your Planning Complete?
We’ve come a long way when it comes to estate planning – so far, in fact, that it’s sometimes difficult to remember that there was a time when things like trusts were solely the province of the richest families. Today, many ordinary families just like yours use trusts to accomplish a variety of estate planning goals. The pendulum has swung so far, however, that we’ve reached the point where do-it-yourself living trusts are being marketed online as an alternative to those crafted by attorneys. … [Read more...] about Why You Need Help from a Living Trust Attorney
If there’s one thing that most Americans seem to share, it’s a desire to save money whenever and wherever possible. We love sales and discounts in all their many forms. That might help to explain why so many Americans can be so easily tempted by ads promising low-cost estate planning solutions. Untold numbers of Americans have flocked to these inexpensive tools, as they’re often marketed as a way to save hundreds of dollars in legal expenses. Few people ever stop to wonder why they’re so … [Read more...] about Five Reasons You Should Avoid the DIY Will
Long-term care is something that large numbers of us will eventually need at some point in the future. Unfortunately, nursing home costs have been rising for many years now, and current forecasts for future costs suggest that there’s likely to be little relief for those retire in the next few decades. And with most Americans having less than $10,000 in retirement savings, it’s fair to assume that many of us will struggle to come up with viable ways to pay for our long-term care needs when they … [Read more...] about Key Facts About the Medicaid Special Needs Trust
For those who haven’t yet engaged in necessary estate planning, the entire process can sometimes seem more than a little intimidating. It is, after all, a process that forces us to confront out own mortality, as we make decisions about end-of-life concerns and the type of legacy we want to leave behind for loved ones. Sometimes, it can be helpful to ease that stress by learning a little more about the process and how various laws impact your decision-making. Here are six things that you should … [Read more...] about Six Things to Remember About New Jersey Estate Law
Hopefully, you recognize the need to have a well thought out estate plan in place to ensure that your assets are distributed according to your wishes when you are gone. Your estate plan, however, should accomplish much more than simply creating a roadmap for the disposition of your estate assets upon your death. For example, have you considered the very real possibility that you, or a spouse, will need long-term care (LTC) at some point during your retirement years? If you do need nursing home … [Read more...] about Do I Need a Nursing Home Planning Attorney?
You’ve worked hard all your life to build up your assets. You’ve finally managed to acquire a decent asset portfolio. Now you need to protect those assets. One of the biggest estate planning mistakes people make is failing to recognize the need to consult with an asset protection attorney. They typically make this mistake because they do not realize how at risk their assets really are. After you take the time to consider the following ways in which your assets might be at risk, you will … [Read more...] about Do I Need an Asset Protection Attorney?
For many Americans, individual retirement accounts (IRAs) and other retirement plans and pensions often represent their most valuable assets. Along with the home, these retirement vehicles are the most likely assets to avoid consumption or loss of value over the course of the owner’s life. Unfortunately, many Americans often neglect to calculate their retirement account’s impact on their overall estate planning efforts – and that can lead to unexpected negative outcomes when they die. Unless you … [Read more...] about Coordinating Your IRA with Your Estate Plan
If you live in New Jersey and even think that you might one day find yourself in need of long-term care, then you owe it to yourself and your family to start planning for that eventuality now. Naturally, none of us want to really contemplate that sort of future for ourselves, since we’d all like to think that we’ll be healthy, vibrant, and self-sufficient until the day we die. Realistically, though, that’s simply not the case. A large percentage of us will one day end up in a nursing home or … [Read more...] about Learn How Your Medicaid Attorney Can Help with Long-Term Care Costs
Before you decide that you should use a last will as your estate planning vehicle of asset transfer, you should carefully evaluate the benefits that you would gain if you utilize a living trust instead. The first thing to understand about a living trust is the fact that it is revocable. You do not have to worry about losing access to the resources if you need to take them back, because you can revoke the trust entirely at any time. Plus, you can act as the trustee and the beneficiary. As a … [Read more...] about How Do You Transfer Assets Into a Living Trust?