An estate plan can be as simple or as complex as you need it to be but unfortunately it is not something that you should put together without the help of a knowledgeable attorney. This is for several different reasons, but primarily because many people who make these mistakes may leave behind a mess for[...]
Although many wealthy individuals are relatively business and financially savvy, according to a recent survey on CNBC.com, approximately one third of these high net worth families have not even taken the most essential steps for providing for protecting loved ones after death. The CNBC Millionaire Survey concluded that 38% of those individuals with investible assets[...]
6 Estate Planning Tips You Should Never Forget Despite the fact that there are plenty of news reports about estate planning blunders made by celebrities, there are still many members of the public who make these mistakes and often it is the family members and other beneficiaries dealing with the outcomes after that person passes[...]
Don’t fall for the impression that estate planning is something you can approach once and then forget about. All the recent changes to the New Jersey estate tax, which is currently entering a phase out, highlights just why you need an experienced lawyer helping you with your estate planning on an ongoing basis. Estate tax[...]
New Jersey lawmakers delayed making a decision on the gas tax hike that has raised concerns around the state. The state’s gas tax may be raised as high as 23 cents per gallon. In a recent compromise Chris Christie and Democrats reached a compromise that might also put New Jersey’s estate tax on the chopping[...]
One of the most challenging aspects of passing on property to your loved ones has to do with tax planning. This is because it is sometimes expensive and frequently complicated to figure this out. many assets receive what is known as a step up in basis when the owner of this asset passes away This[...]
Ease of transferring assets can have a tremendous impact on your heirs. Remember that when you pass away, your heirs will likely be struggling with grief and all the aspects of managing a funeral and following your burial wishes. During this time, processing your personal property and complying with any estate planning administration can be[...]
As shared in the previous blog post, sentiment is one of the primary reasons and factors that should always be considered when passing on assets to future generations. The second in this four-part series is liquidity. A liquid asset refers to any asset that can be changed to cash quickly with little influence on the[...]
There are many different considerations when thinking about leaving behind your assets to your loved ones. Read on to learn more about the first of the four major reasons you should consider in this four-part blog post series. Most people do not realize just how many belongings and assets they have until they sit down[...]
Plenty of estate planning guidance relies on avoiding taxes, and while this is a worthwhile goal, life insurance can be an important part of your estate planning options. One of the most popular tools to handle this is known as an irrevocable life insurance trust. When you select a trust to hold the title to[...]