Donnelly Ritigstein Law Offices
Call for a Free Consultation
Toll Free 866-907-6368 Local 856-324-6147

Trusts Archives

Actor's death shows how trusts can provide privacy

When a New Jersey resident is moving forward with estate planning, there will be many different aspects of the process that will take precedence. One that they might forget about is how a trust can provide privacy that wills do not. A will is a public document that can be seen by anyone when probate starts. That is not the case with a trust. People who are concerned about their privacy should think about the case of the late actor Jerry Lewis and how his estate plan is now part of the public record and rife for discussion among people who did not know him and are questioning decisions he made that are not their concern.

Considering a trust in New Jersey? Make sure to get legal help

Estate planning in New Jersey is not an easy thing to think about, especially since it involves the inevitable future when the testator is no longer here. However, protecting loved ones and making certain that assets and other properties are doled out as desired and shielded is also important. Therefore, it is imperative to understand how to formulate a trust and what kind is ideal for the individual.

A special needs trust can help loved one who is disabled

A common concern for New Jersey parents is what will happen to their children after they have passed on. This issue is magnified if there is an adult child with a disability or health issue. Estate planning can address these matters and make sure that the adult child is cared for. It is important to know what steps to take to ensure that this is the case.

Make the right choice when it comes to trust planning

Why do New Jersey residents make the choice to include a trust in their estate plan? Well, for starters, as previous posts here have mentioned, a trust can be a great way to make sure that your assets are passed on in the most efficient way. For some, the main goal is to avoid probate court. For others, it is to minimize tax exposure. Whatever the reason, in many cases trusts can be a great tool to include in an estate plan.

An overview of the "cy-pres doctrine" and charitable trusts

Many people in New Jersey are finding out that it can be very beneficial to establish a charitable trust as part of an estate plan. These types of trusts allow a person or family to make sure that a significant part of their assets are designated to help a cause in which they believe deeply. However, as with many things in life, sometimes the purpose of these trusts can be frustrated in some way. In estate planning law, issues with charitable trusts can sometimes invoke what is known as the "cy-pres doctrine."

What do you need to know about charitable trusts?

The overall benefits of establishing a trust as part of an estate plan have been discussed in previous posts here. But, as has also been mentioned previously, there are a wide variety of different types of trusts that New Jersey residents can consider. Charitable trusts, for instance, are gaining in popularity. So, what do our readers need to know about charitable trusts?

What are the different types of trusts?

Any of our readers who are familiar with previous posts here know that there is a wide variety of estate planning tools they could consider. However, this is dependent on their goals and specific situation. For instance, trusts are becoming quite popular with many New Jersey residents. But, what are the different types of trusts?

Basketball team owner places franchise in dynasty trust

Basketball enthusiasts in Moorestown keep track of their favorite teams, whether they have season tickets to games or whether they are watching the game in their living room with a snack and beer. Therefore, they may be interested to hear that the owner of the Utah Jazz has transferred both the basketball team and the arena where the team plays into a dynasty trust. Back in 1985, the owner and her late husband purchased the franchise. At the time, the purchase cost them $26 million.

Wills and trusts can be complementary to one another

The sheer number of estate planning options Moorestown residents have may be overwhelming. Deciding whether to include a will, one of the many varieties of trusts, health care directives and powers of attorney can be confusing. However, a comprehensive estate plan can include many of these documents -- it need not be an "either/or" situation. Today, we are going to take a look at wills and revocable living trusts, to see how these two documents compare.

How do testamentary trusts compare to living trusts?

The myriad of trusts out there, such as asset protection trusts, special needs trusts, spendthrift trusts and Totten trusts, can be overwhelming to those in New Jersey who do not have much estate planning knowledge or experience. However, trusts can be broken down into two basic categories that may make them easier to understand.

Moorestown Office
212 West Route 38
Suite 200
Moorestown, NJ 08057

Map & Directions

Haddonfield Office
132 Kings Highway E
Suite 105
Haddonfield, NJ 08033

Map & Directions

Linwood Office
327 Central Avenue
Linwood, NJ 08221

Map & Directions

Cape May Court House Office
618 Route 9 South
Cape May Court House, NJ 08210

Map & Directions

Gloucester, Cumberland and Salem County Offices
57 Euclid St.
Woodbury, NJ 08096

Map & Directions

Back To Top