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When 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...

Drafting 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...

No 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...

Deciding 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...

Many businesses in New Jersey provide similar services or products as other businesses. Due to this they compete with each other for clients and customers. There are differences between companies who compete with each other though and those differences are what set them apart from their competition. It is important that these differences are kept with the company to protect them to continue to give them an edge over their competition. It is also important...

In New Jersey, people who have created a product or formulated an idea will want to benefit from it financially. This is true regardless of whether they began their work to build a business, benefit others or both. That will include understanding the various legal issues that can arise when protecting their property and keeping it from being used against their will or outright stolen. Understanding the arcane details about protecting intellectual property can be...

It seems like every time we turn on the news, we hear about a new cryptocurrency making early investors millions. Indeed, Bitcoin or Dogecoin seem to be in the news at least once a week. These are the digital assets that most people are familiar with: cryptocurrencies. However, there is an entire world of other digital assets that need to be included estate plans. Social media is a digital asset What happens to our social...

When a person dies in New Jersey, and they have a will, their estate enters Probate Court. Probate is a concern for many estate planners. Planners seek to avoid it for a variety of reasons, including the fees and the lack of privacy it affords. Thankfully, New Jersey residents have a variety of ways to avoid probate court. Revocable trusts A revocable trust is an effective way to avoid probate. All assets transferred into the...

Your parents have always been a source of guidance and wisdom but once they pass away you may be left in charge of probating their estate, something you have never done before. It is natural to be confused by the New Jersey probate process. If your parents left a will naming you as executor or if they died without a will and the court appointed you as administrator, you must ensure the estate is properly...

Estate planning is about more than just what happens when you die. It also includes things like trusts and Medicaid planning, which can be important tools while you’re still running around and enjoying life. Advance healthcare directives are yet another prong of good estate planning, to take care of those situations when you are unable to handle them yourself. What is an advance directive? Simply put, an advance directive is a choice, or series of...