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There’s a lot that goes into estate planning, but one often overlooked aspect is the potential need for long-term care. If you end up in a nursing home or long-term care facility without proper planning, then the costs of your care can quickly eat away your estate, thereby leaving your loved ones with little to nothing when you’re gone. And it can leave you at risk of being unable to obtain the care that you...

After a family member or loved one passes away, you may be appointed the executor of their estate. As an executor of an estate in New Jersey, you have many responsibilities. One of your first and most important tasks is locating the estate’s assets, so they can be distributed to heirs or creditors. Check the will first If your loved one had a will, this is the first place you should look for an asset...

The economic upheavals of the past few years have left many New Jersey small business owners struggling and worried about the future of their business. As a small business owner, you must try to find a balance between keeping your business afloat, while not sacrificing quality. Both the big picture and the small details matter There are many things you can do to increase your business’s chance of surviving through challenging economic times. It is...

Your small business may have just gotten off the ground, and you have yet to develop an employee handbook. Nevertheless, employees in your business may have disputes. Without a handbook, these disputes can lead to a lawsuit that could spell the end of your business. If you have an employee handbook, you can include dispute resolution processes in it that can hopefully help you avoid litigation. Mediation Your employee handbook can contain provisions stating employment...

The 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...

If 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...

Many 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...

Working 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,...

Estate 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 –...

Making 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...