Being a trustee comes with enormous responsibilities. These individuals are responsible for administering the trust upon the grantor’s demise. This involves ensuring that the grantor’s wishes are executed per the provisions of the trust instrument. To effectively...
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Estate Planning
3 reasons your heirs can challenge your estate plans
Your estate plan is more than just a will. It includes multiple documents that outline what should happen to your estate after you pass away, and if you have advance directives or living wills, it outlines what your heirs can do while you are living. What you include...
Would a reversible trust fit into your estate plan?
Older Americans sometimes delay their estate planning for far too long. This can backfire on them -- and even more so on their surviving spouses and any dependent children. You want to do the right thing for your heirs and beneficiaries, but in these uncertain times,...
What to know about special needs trusts
If someone in your family has certain disabilities, they may qualify for Medicaid and other government benefits based on their financial situation. However, to ensure they continue receiving the care they need, you may want to give them an inheritance after you pass....
A POA can have uses while you’re still alive and well
You just found the perfect property to invest in. Unfortunately, you won’t be around to finalize the purchase. Now you’re conflicted about whether you should stay home to finalize an investment or go on your overseas trip. Instead of being split between traveling and...
3 ways to add real estate to your estate plan
You may have started your estate planning by looking at the financial assets and the sentimental items that you know your children are going to want. However, you also need to deal with your real estate in your plan. This could be a family home, for instance, or a...
What makes a will valid in New Jersey?
A will is one of the most important legal documents you can ever create during your lifetime. If you die without one (intestate), the New Jersey laws will determine how your hard-earned assets are distributed. A properly written will, on the other hand, can give you...
What is a no-contest clause and do you need it in your will?
When you create a will, you do so to eliminate potential confusions and conflicts that may arise regarding the fate of your assets. However, if you have concerns about someone disputing your will, it helps to figure out how you can protect it. One of the steps you can...
Should you add a transfer-on-death deed to your estate plan?
Planning your estate gives you control over what happens to your property and also allows you to provide support for your loved ones when you can no longer physically be with them. What happens to your home will matter to the people who live with you and to those who...
How do I discuss my will with my loved ones?
Talking about your mortality and what you want to happen to your wealth when you are gone may seem awkward. In fact, talking about death and money at the same time can be taboo in most households – so this conversation rarely happens. However, no matter how...