Probate Basics
The legal process of transferring of property upon a person’s death is known as “probate.” Although probate customs and laws have changed over time, the purpose has remained much the same: people formalize their intentions
President-elect Obama’s tax plan
Tax-Plan Highlights Here are some of the details of President-elect Obama’s tax plan. INCOME TAXMaintain current tax rates of 10% to 28% for most Americans. Reinstate top tax rates of 36% and 39.6% on joint
2008 Year End Estate and Trust Taxes and Planning: Before It’s Too Late!
Although year-end tax planning generally focuses on income taxes, a thorough year-end tax assessment should include reviewing your estate plan and estate tax situation as well. In 2008, the highest marginal estate tax rate is
10 Costly Mistakes to Avoid in Helping Families with Special Needs
This article examines the unique planning requirements of families with children, grandchildren or other family members (such as parents) with special needs. There are many misconceptions in this area that result in costly mistakes in
The Secret Stretch IRA
It may seem like a contradiction, but there is a way to leave a lot of money to your heirs even if you’re not rich. Individual retirement accounts (IRAs) were established to let you save
THE PROBATE PROCESS IN NJ
Probate is the process whereby a Will is proved to be valid by a Surrogate, who has the authority to determine the authenticity of such a document. It also involves appointing an individual for an
McCain & Obama’s Estate Tax Plans
From Wall Street Journal: Stayin’ Alive: How to Cheat The Estate Tax, by Tom Herman: The Obama Plan. Sen. Obama proposes a $3.5 million exclusion in 2009 and thereafter, with a top rate at 45%.
Estate Planning: More Than A Will
By Parag P. Patel, Esq.www.patellawoffices.com During our lifetime, most of us strive to create and build upon our net worth. We generate savings, purchase a home, and eventually invest in stocks, bonds, mutual funds, IRAs
Estate Planning Checklist
This initial estate planning questionnaire is presented in a narrative form. The detailed explanations and the space provided for answers are designed to garner more complete and helpful information than would be afforded by merely
Guardianship of Children With Special Needs
Two good posts coming from Leanna Hamill in Massachusetts and Tredway, Lumsdaine & Doyle in California on planning for children with special needs. Among the excellent suggestions are the following:Special Needs Trust – allowing parents,
Estate Planning in New Jersey
Estate Planning in New JerseyYou can save a lot of money and potential chaos and hard feelings among those closest to you by preplanning how you want your assets managed when you are incapacitated, and
Naming Your Executor
You should name an executor in your will. In order to decide who is best to carry out this position, you need to know what responsibilities the position has. The executor’s job is to start