Estate Planning During Divorce

Divorce is one of the major life events, after which both former spouses should update their estate plan. However, this recent article discusses why it is important for New Jersey residents to consider and revise their estate plans before, during, and after the divorce proceedings. Before The Divorce New Jersey law makes it difficult to[...]

Estate Planning: Lessons Learned From Mitt Romney

Whether you agree with the politics of former Republican presidential candidate Mitt Romney or not, there are many lessons to be gleaned from his complex estate plan. A recent article in Fox Business discusses several of these lessons.   Romney, who is worth $250 million, has in place a variety of trust funds that will[...]

Transferring The Title of Your Home Is a Dangerous Proposition

A common estate planning arrangement that many seniors have considered is transferring the title of their home to a child. According to a recent article, however, transferring the title of your home is a dangerous proposition.   Put simply, once you transfer the title of your home, the person you transfer title to is the[...]

Durable power of attorney: It’s a matter of trust

All of us in New Jersey just got a harsh, harsh lesson in preparing for emergencies. As my family and I left for the warmth (and hot showers at the homes) of family in Delaware, folks without a place to crash were left to fend for themselves as they tried to outlast the effects of[...]

Giving to Your Grandkids Without Sacrificing Your Retirement

Many grandparents desire to help their grandchildren financially, however the weak economy and job market has put many grandchildren in a situation where they need more than their grandparents can realistically give. According to a recent report in The Wall Street Journal, grandparents who are making financial gifts to grandchildren while living off their savings[...]

Cautious approach the wisest when it comes to reverse mortgages

Although reverse mortgages hold out the possibility of financial stability for older Americans, it is best to exercise a good deal of caution when considering this option. It might not be the panacea some people believe the concept to be. “The very loans that are supposed to help seniors stay in their homes are in[...]

Estate planning is vital for women

While estate planning had long been a field dominated by men, there’s a growing realization that it’s of even greater importance for women.   The reason is simple: They live longer. “Women live longer on average and tend to marry older spouses, making them three times as likely as men to be widowed at 65,”[...]

Tips On Choosing An Estate Planner

Once a person decides upon estate planning, that doesn’t mean all decisions will soon be turned over to a professional. For one thing, individuals must settle upon an estate planner, and that can seem to be a daunting task. “Make sure that your attorney knows what you wish to accomplish with your assets and is[...]

Protecting the Snowbird Estate

Many seniors do not think about how living in two states after retirement may impact their estate plans. A recent article discusses several ways that seniors who live in two states can protect their estate and ensure that their wishes will be carried out should they become incapacitated or pass away. Seniors must be sure[...]

Last Minute Gift Tax Exemption Planning for 2012

Unless you've been living under a rock, the news has been dominated by discussion of the fiscal cliff coming at the end of the year. One of the elements of the fiscal cliff includes a rollback of the estate tax laws to 2001 levels. That means there will be federal estate tax due when you[...]

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