- What happens in probate court?
Apr 15, 2022The estates of New Jersey residents who die without a will must go through the probate process. Concerns about the cost and length of the probate process are common, and many people may also have concerns about what happens at probate hearings. If you die without a will, a probate court must decide who gets your assets, and how any of your debts will be paid. Your assets are distributed to heirs in accordance with...Read More
- What to consider when drafting a living will
Apr 1, 2022If you have a valid will, you have already taken an important step in the estate planning process. You have a legal document stating what happens to your estate after you die. However, what happens if something happens to you that renders you incapacitated and unable to make your own medical decisions? Having a living will can help. What exactly is a living will? A living will is a written document that allows you to...Read More
- Why is business succession planning so important?
Mar 24, 2022Many New Jersey residents have invested a lot of time and wealth into their family business. When they retire, for many reasons they may want to keep the business running. Perhaps they wish to hand responsibility for it down to the next generation. Even if that is not the case, though, they still will likely want to be sure that their loved ones get some financial benefit from the business. Without a good business succession...Read More
- Using a trust in business succession planning
Mar 10, 2022Working for one’s family may seem like an easy career to maintain; however, even small family-owned business can face the same complex matters that major corporations do. The longevity of a business is continually monitored, and if a business in New Jersey or elsewhere seeks to change hands to ensure the business continues well into the future, succession planning is essential. While specific documents can be drafted to address this business matter, for some companies,...Read More
- Notable intestate deaths show importance of estate planning
Feb 25, 2022Estate planning is a necessary but often neglected aspect of life. In New Jersey and across the nation, people may understand how vital it is to create even a rudimentary estate plan, but fail to follow through. This can lead to problems if the unexpected happens. Evidence of the litany of challenges that can arise if a person dies without a will have been shown with prominent people in recent years. While those individuals –...Read More
- Questions to ask your parents to help them start estate planning
Feb 22, 2022Making an estate plan is important for everyone to do. There are many good reasons to have an estate plan and it can be helpful for family members to know what they are and how to talk to their loved ones about estate planning. Questions to ask to help parents begin the estate planning process There are several things to think about when estate planning and when considering the importance of estate planning. Questions adult...Read More
- Probate and the current issues with the probate system
Feb 9, 2022When it comes to the administration of an estate plan in New Jersey and elsewhere, individuals often believe that probate is something to avoid. While many will consider ways to avoid probate when drafting and updating an estate plan, the reality is that probate is not always avoidable. Moreover, probate is essentially not a bad thing to go through. Nonetheless, the probate system is not perfect and could be fixed to benefit many individuals throughout...Read More
- What happens if I die without a will?
Jan 26, 2022Drafting a will is often something that people talk about, but never get around to doing. Although having a will is recommended, the reality is that it not a priority for many people. There are many reasons for this. Young people may think estate planning is not something they need to do yet and thinking about your own death is not something most people want to do, no matter their age. If you die without...Read More
- What estate planning steps should parents take?
Jan 19, 2022No matter your child’s age, you want to provide for them and ensure that they have the support they need to flourish. One important step that you can take is creating an estate plan. this can be especially important if your child is under 18 and will need additional support if you pass away unexpectedly. What should you consider when creating your plan for the future? Naming a guardian for your child can provide both...Read More
- Should an incentive trust be part of your estate plan?
Jan 12, 2022Deciding how to leave your assets to your loved ones can be a challenging endeavor. After all, your familial relationships and your loved ones’ individual needs may justify something other than equal distribution of your assets. In some instances, estate planners find themselves concerned about how their assets will be used once handed down. If you find yourself in this position and are worried about your estate being squandered away, then you may be wondering...Read More
MEET ATTORNEY MICHAEL D. RITIGSTEIN
Michael Ritigstein is a Founding Partner of the firm concentrating his efforts in supporting the firm's litigation, corporate and estate matters. Mr. Ritigstein graduated from the University of Delaware in 1996 and Seton Hall University School of Law in 2000. In 2007 he received a Masters of Law in Taxation with a concentration in Estate Planning, from Temple University's Beasley School of Law.
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