You would do well to take every angle into consideration when you are putting your estate plan together. If you act in an informed manner, your heirs will receive their bequests shortly after you pass away. Conversely, if you do not take the right steps, a waiting game may ensue after you are gone Estate Administration Process You may be under the impression that the legal device called a last will is the simplest and most efficient estate planning tool. Trusts may seem like something that … [Read more...] about Will My Heirs Receive Their Inheritances Shortly After I Pass?
Elder law is one of the newest specialty areas of the law that has emerged in recent years. Although elder law is a relatively new area of law, it is fast becoming a much sought after and necessary area of the law. The reason for this is due, in large part, to the exploding elderly population in the United States. As the Baby Boomers move into their retirement years, the sheer number of older Americans has created a need for attorneys who specialize in legal issues that impact the elderly. … [Read more...] about Why Would I Need an Elder Law Attorney?
Estate planning can be an exciting process, but there’s no denying that it can be complex and confusing too. For many people who lack familiarity with estate planning techniques, various tools like powers of attorney and trusts can often seem like foreign concepts. Still, those tools can often mean the difference between an inefficient plan and one that can resolve a wide variety of different planning needs. And since the trust is one of the most important tools in any estate planning arsenal, … [Read more...] about What Is a Trust and How Can It Enhance My Estate Plan?
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?