When you actually look into the subject of estate planning you will find that it is more directly relevant your family's long-term interests than it may seem to be on the surface. There can be a great deal of money in the balance, and many people are simply not aware of the various ways that your assets can be eroded if you do not take the appropriate actions. We understand the fact that the typical layperson may not know where to find a comprehensive source of estate planning information. As … [Read more...] about Free New Jersey Estate Planning Report
Trusts
Estate Planning as a Grandparent
Estate planning as a grandparent can include providing educational opportunities if you have grandchildren who are still of school age. People who are exposed to the federal estate tax can gain tax efficiency by doing this, and of course providing your grandchildren with the opportunity to help themselves is certainly a good investment. Why would paying for education provide tax benefits? This is because of the fact that you may pay the college tuition of students without incurring any gift … [Read more...] about Estate Planning as a Grandparent
Remarrying? Adjust Your Estate Plan
It is a good idea to develop a long-term working relationship with your inheritance planning attorney because it is very likely that your plan is going to need adjustments along the way. There are various things that can happen within the life of an individual that make an estate plan alteration necessary. Significant changes in financial standing and additions and subtractions to the family are life-changing events that can render your existing estate plan obsolete. Another thing that can … [Read more...] about Remarrying? Adjust Your Estate Plan
Providing for Individuals With Disabilities
Deciding how you will arrange for asset transfers for the benefit of those that you love is part of the estate planning process. You don't have to give direct inheritances to each individual, and in many cases this is actually not the best course of action. Every family is unique, and this is why it is important to discuss your future with a good central New Jersey estate planning lawyer. Experienced professional guidance is the key to a well constructed estate plan that covers all your bases … [Read more...] about Providing for Individuals With Disabilities
Creating a Trust? You Still Need a Will
As you engage yourself in the process of estate planning in earnest you would do well to recognize the fact that there are choices that must be made with regard to vehicles of asset transfer. Depending on your resources, your intentions, and your family dynamic any number of different approaches may be appropriate. This can sometimes get complex for some individuals. However, the ideal solution exists regardless of your circumstances, and putting together the perfect packages for high net worth … [Read more...] about Creating a Trust? You Still Need a Will
Leaving Direct Inheritance Not Always Best Choice
There are some pleasant problems that can present themselves as you are engaged in the process of estate planning. You may have to look for creative solutions as you are arranging for asset transfers with the well-being of your heirs in mind. Individuals who are in a position to leave behind significant sums of money to their loved ones are going to be people who understand how to handle financial resources effectively. This does not necessarily mean that all of your heirs will share this … [Read more...] about Leaving Direct Inheritance Not Always Best Choice
Self-Settled Alaska Trust Can Be a Good Choice
Anyone can be the victim of a lawsuit, and certain business dealings can result in creditors seeking to attach your personal resources. People who are in particular fields such as physicians and those who invest in real estate are especially vulnerable. Given the above, asset protection is something to take seriously if you are in possession of a significant store of financial resources. If you have access to assets that you put into a trust they are usually going to be unprotected because you … [Read more...] about Self-Settled Alaska Trust Can Be a Good Choice
Estate Administration Requires People Power
Depending on the specifics of your case the administration of your estate may require quite a bit of expertise. People who use a Last Will to direct asset transfers will have to appoint an executor to handle all the details, and they can be considerable. The executor must make sure that final debts are paid and this includes taxes. As a result he or she may have to engage the services of an accountant. Property liquidation may be necessary as well and this could require appraisers, realtors, … [Read more...] about Estate Administration Requires People Power
Transferring Policies Into an ILIT
Central New Jersey estate planning attorneys are always going to emphasize the importance of planning ahead even as a relatively young adult. One of the reasons is because of the fact that there are no guarantees and you never know exactly how long you will live. Unfortunately, people of all ages pass away every day and they leave families behind. But in addition to protecting your family in the event of an unexpected catastrophic accident or illness planning ahead can provide certain logistic … [Read more...] about Transferring Policies Into an ILIT
Supplemental Or Special Needs Trusts
Obtaining personalized attention from an experienced professional is the key to crafting an estate plan that is ideally suited to fit the needs of your family. There is no universal course of action, and this is something to keep in mind when you hear entities claiming that estate planning is something that you can do for yourself with the benefit of some generic template documents. Depending on the specifics of your situation any number of approaches may be optimal. One specialized … [Read more...] about Supplemental Or Special Needs Trusts
