For those looking to avoid estate and inheritance taxes, New Jersey is currently not the ideal state for an individual to spend his or her last days. Additionally, the effects of unpaid estate and inheritance taxes could linger long after the owner’s death. New Jersey is one of only two states that impose an estate[...]
A revocable trust, also referred to as a living trust, is an estate planning tool that a person can use to pass his or her assets outside of probate after his or her death. A recent article explains how a person may benefit from a revocable trust. When a person puts property in a revocable[...]
Like most estate planning devices, a revocable living trust is not right for every estate. A recent article discusses several of the pros and cons of creating a revocable living trust. A revocable living trust is a trust that a person establishes during their life with their own assets. The terms of the trust can[...]
A single winning ticket was sold in Rhode Island for the $336M Powerball lottery drawing a little while back. The winner has stepped forward to claim her prize. Her name is Louise White and she is described as a "vivacious" 81-year old. Here is the news article. Ms. White claimed the prize on behalf[...]
One of the joys of having some success in life is your ability to do things for people you love — probably your children, first of all. For some New Jersey parents, that might include the ability to buy an apartment in the City (New York City) for their kids. What, you may be wondering,[...]
Just like the famous Google Ad about finding love in Paris, we've created our own Estate Planning Google Search Story. It's all about why searches on estate planning keep bringing up "www.JerseyEstatePlanning.com" as the top result and finally asks the question, "Who is www.JerseyEstatePlanning.com?" The answer, of course, is: Medina Law Group, YourLawyers4Life. Here is[...]
The term "trust fund" conjures up images of mansions, yachts and huge fortunes. But once the province of the very rich, trusts have found themselves into the lives of many families who've never thought of themselves as wealthy. Trusts come in myriad forms, but for middle-class families, the living trust is popular because the person[...]
We've become all too used to folks in media twisting a story to suit a certain purpose. When Michael Jackson's will was revealed, the media was reporting that he left everything to his Family Trust and then speculating as to what that meant. Of course, no one doing the reporting is an estate planning attorney,[...]
One of the black letter laws in the world of probate is that real property, that is land, homes, etc., must be probated in the state where they are. That means that if you own a primary home in New Jersey and a summer home or a second home in Florida or New York, you'll[...]
Will? Living Trust? - Neither! When people learn that I am an estate planning attorney, I usually get asked this question: "Should I have a will or a living trust?" Then, conversation usually turns to what the prospective client heard could or would happen with one or the other. It's as if I'm a surgeon[...]