Estate Planning
What the Jimmy Buffett Estate Fight Can Teach Families
Know what’s definitely not a cheeseburger in paradise? A drawn-out legal battle between family and trusted advisors. Yet that is exactly what’s happening in the wake of Jimmy Buffett’s passing and it’s a reminder of how even the best intentions can lead to family conflict without careful estate planning. Buffett, whose estate is worth an […]
Read More....Revocable Trusts vs. Irrevocable Trusts: What is the Difference?
Both revocable and irrevocable trusts are used in estate planning, but they serve different purposes and offer different advantages and disadvantages. A revocable trust allows the person who sets up the trust (the grantor) to change or revoke the trust at any time during their lifetime. At the time of your death, a revocable trust […]
Read More....What Is New Jersey Medicaid Planning?
New Jersey Medicaid planning is a legal and financial strategy designed to help individuals qualify for Medicaid benefits while preserving as many of their assets as possible. Medicaid is a federally funded program administered by each state (known as NJ FamilyCare in New Jersey) that provides health coverage to individuals with limited income and resources. […]
Read More....Understanding the Medicaid Look-Back Period in New Jersey
If you’ve started researching Medicaid planning, you’ve likely come across the term of the Medicaid look-back period in New Jersey. But what exactly does it mean, and why is it so important? What Is the Medicaid Look-Back Period in New Jersey? In New Jersey, the Medicaid look-back period is a five-year timeframe during which Medicaid […]
Read More....Revocable Living Trust: A Flexible and Practical Estate Planning Tool in New Jersey
When it comes to estate planning in New Jersey, a revocable living trust is a versatile option that can help you manage your assets during your lifetime, and simplify the process of passing them on after your death. Please note that a revocable living trust is not appropriate in every circumstance, and should only be […]
Read More....5 Common Medicaid Planning Mistakes in New Jersey Families Should Avoid
Navigating Medicaid planning mistakes in New Jersey can be challenging, especially when it comes to planning around long-term care. Whether you’re preparing for your own future or helping a loved one, avoiding these common mistakes can make a significant difference in protecting your assets and ensuring peace of mind. 1. Delaying the Planning Process One […]
Read More....What Could Happen When a New Jersey Resident’s Will Is Lost
A caution on what could happen when a New Jersey resident’s Will is lost at the time of their death. When a loved one passes with a valid Will, their intentions for the disposition of their assets passing through their estate are usually clear. Issues arise with many Wills when the intentions are not clear […]
Read More....Burial Disputes Between Parents in New Jersey
How does NJ settle burial disputes between parents when a child passes away? Every parent’s worst nightmare is to have to bury their child. And a process like that, which seems like it could get no worse, actually can. In cases where parents dispute how to honor their deceased child, the endeavor becomes not only […]
Read More....The Probable Intent Doctrine in New Jersey
The doctrine of probable intent guides courts in construction of a will or trust. It is crucial to use clear, unambiguous language when creating your estate plan. The terms of your will or trust should provide specific instructions on how your estate will be administered. Without precise directions, the possibility of a contest or dispute […]
Read More....What is Per Stirpes and How Can You Use it in Your Will?
Per Stirpes is a simple method of adding contingent beneficiaries to your will. Deciding who will inherit your assets and estate after you pass away is an important, sometimes difficult, decision. It can be more complicated in cases of large estates or those with many beneficiaries. One way to simplify this process is to use […]
Read More....
