Do You Need to Revise Your Estate Plan?
If your will is over 5 years old, you probably need to revise the documents. Why Do You Need To Revise or Update Now? Because the laws that effect your estate plan change frequently. For
Letters of Instruction, or Ethical Wills
Most people are aware of the importance of establishing a will, but a legal document like that does not necessarily allow you to convey an array of important details and thoughts to your loved ones.
Adding Beneficiaries to an Irrevocable Life Insurance Trust
If the owner and beneficiary of the a life insurance policy is an irrevocable life insurance trust (“ILIT”), the proceeds from the life insurance policy would not be included in her estate and could be
Beware PODs and TODs
Virtually any bank or brokerage account can provide that it is paid on death (“POD”) or transferred on death (“TOD”) to named beneficiaries. And IRAs, 401Ks, pension plans and insurance policies are typically made payable
Estate Tax in 2010
The federal estate tax, or “death tax” is in the news these days. This year (2010) there is no federal estate tax. It was repealed, but only for one year. The federal estate tax will
Varieties of Powers of Attorney
A power of attorney is a very important estate planning tool, but in fact there are several different kinds of powers of attorney that can be used for different purposes. Before executing this crucial document,
NJ Inheritance Tax
Inheritance Tax, also referred to as the death duty, is the set of taxes which has to be paid by the heir on inheriting the estate of a deceased person. This tax is calculated after
Tangible personal property: plan well to avoid family disagreements
People who provide for their beneficiaries in their estate planning documents generally do a good job with their financial assets but are oftentimes remiss in providing detailed instructions regarding their tangible personal property (ie. household
New Jersey inheritance tax
If you live in New Jersey, then you’re lucky enough to live in one of the two states that collects both a separate state inheritance tax and estate tax (the other is Maryland). Currently the
Asset Protection for Physicians
Where physicians are most likely to lose wealth is through bad marriages, bad investments, bad tax planning, or a combination thereof.
Life insurance for disabled or special needs children
When a child is born, many people purchase a life insurance policy for him or her. The parent is typically the owner and beneficiary of the policy, and many of these policies are known as
The questions most frequently asked about probate in New Jersey.
1) How do I begin the probate procedure? The person that wishes to be appointed to represent the Estate will bring a certified copy of the death certificate and the original Will. While the Surrogate