Estate Planning
Beware of the Possible Expense of a Surety Bond in Estate Planning
Purchasing a surety bond is among many of the tasks that may need to be completed when administering an estate in New Jersey. When a person is given the responsibility of representing an estate and distributing the deceased’s assets, normally there must be something in place to secure the faithful performance of the representative’s duties. […]
Read More....When and How to Challenge a Will
There are various reasons for wanting to challenge a will in New Jersey. It is important to consider the required criteria and time limits when challenging any will. You will want to consider contacting an attorney before taking any steps, as they will have suggestions as to the potential success of the claim and be […]
Read More....Why a Power of Attorney Is an Important Step in Your Estate Planning You Should Not Ignore
There are many aspects of estate planning that may call your attention as you are considering who will manage your assets, what medical treatments you want in the event of an accident, or who will inherit your estate. One aspect you want to consider is establishing a Power of Attorney. This is an essential step […]
Read More....Is the Promise of a Gift Enforceable?
The promise of a gift is a very tricky thing, in the recent New Jersey Appellate Division case of Filippelli v. Ingis regarding the proceeds of a decedent’s IRA funds, two siblings fought over $75,000 allegedly promised from one to the other. In Filippelli, an aunt chose to pass her IRA funds to her niece, […]
Read More....Insolvent Estates in New Jersey: What You Need to Know When the Estate Has No Money
One important responsibility for the executor or administrator of a New Jersey estate is to deal with insolvent estates, that means to pay the deceased person’s debts. Debts can include credit cards, mortgages, loans, funeral costs, and medical expenses among other things. Some creditors may make formal claims against the estate while others may forgive […]
Read More....Specificity is Key in Estate Planning
A Will and other estate planning documents provide you with the opportunity to make decisions that will affect your loved ones and beneficiaries after you have left this earth. You decide who gets what and you decide how much each person gets. You can even decide to leave something or everything to charity. A Will […]
Read More....Do You Have a Will? You Should.
Do You Have a Will? You Should. No one enjoys talking about death, but it is an inevitable fate everyone will eventually face. Having your affairs in order through the drafting of a Last Will and Testament will help to ease the stress in administering your estate. A Will is an organized document that outlines […]
Read More....Ancillary Probate: Are additional steps required to sell a decedent’s property located in another state?
Handling the loss of a loved one is already a difficult time, but there can be additional stress if you find yourself appointed as executor in the decedent’s Will, or you must apply to be an administrator if there is no Will. Probate is the court-supervised process an executor or administrator takes in settling a […]
Read More....Tiger King Highlights Intriguing Estate Planning Issues
From a legal perspective, the hit documentary ‘Tiger King’ is intriguing due to the twisted legal, criminal and ethical issues raised throughout the show, among other things, of course. One of the more interesting legal issues is the claim that a husband’s estate planning documents, including a will and power of attorney, disappeared at the […]
Read More....Yes, You May Have to Pay Taxes Even After Death
Estate planning can be tedious, but it is incredibly important. Without an appropriate plan in place, your heirs may not receive an appropriate distribution of assets, and poor planning could have unintended monetary impacts on your loved ones. Estate tax and inheritance tax are two considerations that you should always factor into your estate plan. […]
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