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Estate Planning Archives

Changes to the estate tax will affect New Jersey's wealthy

For New Jersey residents who have significant assets, the United States government's plans regarding the estate tax will never be far from their minds. When crafting an estate plan, this is one of the most important issues they must confront. The amount that is shielded from the federal estate tax is constantly up for debate, and it is imperative to keep track of certain changes and proposals to ensure that the estate plan addresses this.

Taking care of your health care with a health care proxy

It is impossible to know and control the future, but there are certain steps you can take to ensure that you have protected your interests for the months and years ahead. You may know that you could benefit from a will and other estate planning tools, but you would be prudent to consider a health care proxy as part of your plan.

Many fail to protect their estates with an estate plan

A frequently forgotten document for even the most conscientious people in New Jersey is an estate plan. Most people will organize everything including insurance, health coverage and more, the estate plan is left in the background. Perhaps it is something they think can wait. It might be a pure lack of willingness to admit that the inevitable will occur and the inheritance for loved ones through an estate plan must be accounted for after death. Regardless, it is imperative to think about wills, trusts and other alternatives with an estate plan as soon as possible.

Wealthy people should update their estate plans regularly

The importance of an estate plan should be clear to everyone regardless of their assets and financial situation. However, people in New Jersey who have substantial assets have more to think about because there is more at stake. An estate plan governs who will receive the inheritance, how much they will get and other factors. It is a mistake to think that an estate plan is final when it is first completed. Changes will inevitably be necessary.

Wills, trusts and a valuable home when estate planning

Property can be one of the most contentious issues when a loved one dies and the estate is passed along to heirs. For those in New Jersey and the Metropolitan area, this is growing into a larger problem because of the rising value of property. Frequently, the home is a person's most valuable asset in his or her portfolio. How to navigate this when the property is rising in value and the estate plan is being formulated can be complicated.

Important reminders when dealing with estates and the future

For people in New Jersey who are being conscientious about the future and are concentrating on estate planning, there are certain basics that they will understand including writing wills. This is something that addresses issues after death, but does little if there are needs while the testator is still alive, becomes incapacitated and cannot make his or her own decisions. There are other documents that should be completed to ensure that the necessary preparations are made for any eventuality.

The importance of estate plans with an inheritance -- Part II

Estate plans are complex instruments that can be confusing to a great number of people. There are multiple subsets to any estate plan and dealing with wills, trusts, inheritance and other matters related to it can leave family members in dispute. A recent post discussed the importance of inheritance estate plans. This post will follow up by discussing other issues that should be accounted for by New Jersey residents as they formulate this crucial document and decide on how it should be done.

The importance of inheritance estate plans -- Part 1

An estate plan is a vital part of the future for people in New Jersey. It is often overlooked, but especially for those who do not have significant means. They might be under the impression that since there is not substantial assets to divide, wills are unnecessary. However, that is a mistake.

Protecting estates and children if there is a remarriage

New Jersey residents will want to make certain that they formulate a coherent and well-crafted estate plan to ensure that their loved ones are cared for after they are gone. These documents can address many different aspects of a person's life. Wills, trusts, the estate tax, to whom the inheritance will go - all are important. While it might be difficult to think about, a person who is creating an estate plan must account for the possibility that a spouse will remarry. Going beyond the emotional reality of this, there are financial ramifications to it and it can affect other heirs.

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