Felician University in New Jersey recently revealed the results of their Aging in America study conducted with college age students. They found that college students anticipated living in their own home independently and being relatively active beyond the age of 85 but more than 70% of these survey respondents had not begun planning for their[...]
Did you know that in the aftermath of the 9/11 attacks, one of the most understudied aspects had to do with a lack of appropriate estate planning? The median age of the individuals killed in the World Trade Center attacks was 39. This is an age group that is already less likely to have wills[...]
Whether or not your stress rises or decreases after retirement depends on the job you had prior to leaving the workforce, according to a new British study published recently. Those individuals who have low status ad low level jobs are more likely to experience more stress around the retirement process than co-workers in a higher-level[...]
The most common estate plan today will leave assets equally to all of your children. In some situations, however, equal distribution is not desired nor does it make sense for your family members. Parents frequently have logical reasons for leaving behind differently-valued inheritances for their children. For example, a younger child may still have a[...]
For some people, thinking ahead about estate planning has little to do with their family and more to do with impact they intend to leave behind. When it comes to deciding what should happen with your life savings or your other assets, older individuals without grandchildren, stepchildren or children are facing a complex array of[...]
There are many different strategies that exist for passing wealth from one generation to another without having to encounter the estate tax. Many of these, however, may still be subjected to the generation skipping tax and other congressional measures. A novel strategy that may help you accomplish the goal of avoiding these consequences while passing[...]
The short answer that is for majority of estate planning tools such as putting together a will, is that you certainly don't need a lawyer. However, you should certainly hire an attorney if you have a fair amount of assets, multiple intended beneficiaries, and want to ensure that your will has been drafted in accordance[...]
A recent study from the Chicago-based BMO Wealth Management Company identified that up to 40% of adult parents had not had conversations with their children about their estate planning intentions. This can lead to confusion or worse, frustration, if and when a parent passes away unexpectedly. Approximately 28% of adult children indicated that they had[...]
Planning ahead for your future likely involves a sit-down meeting with a New Jersey estate planning attorney, and that conversation may include mention of estate planning tools such as a revocable trust. Known for its flexibility, the revocable trust empowers you to maintain control over assets placed inside and the trust itself over the course[...]
Setting up a consultation with an experienced estate planning attorney is strongly recommended, so that you have the opportunity to walk through your individual situation and determine strategies and tactics that will help you accomplish your estate planning goals. Putting together an estate plan and outlining the essential documents such as a will or a[...]