Collecting art or other valuable items can be a passion for many people. Often such a pastime is more about enjoying the art or the medium itself than about ensuring financial gain. However, once you have accumulated a sizable collection, what do you want to happen to it after you pass away? It is important that your estate plan address your art separately from your other assets. The first step in estate planning Read More
How to Deal with an Estranged Child in Your Estate Plan
Unfortunately, not all families get along. If you are having problems with one of your children, you may not want them to benefit from your estate. There are several strategies for dealing with an estranged child in your estate plan. Depending on the level of estrangement and the reasons for the estrangement, the following are the main approaches for treating a child differently in your estate plan: Outright Read More
When Does a Will Become Outdated?
Estate planning is an important part of every family, no matter the size or structure. You should work with an attorney early on to make sure your wishes are carried out when you or another member of the family passes away. It’s imperative, however, to understand a will is not a “set it and forget it” situation. You will need to update your will as time passes. Your Family Structure Changes This should be the most Read More
What Happens To a Family With No Estate Plan?
Estate Planning is the process of working with an attorney to create a legally-binding plan for what will happen to your remaining belongings and assets after you pass away. The bedrock of an Estate Plan is a Last Will and Testament. It dictates what the individual wants, as well as how they would like it accomplished. So what happens when someone passes away without an Estate Plan? Let’s take the case of Sam as an Read More
3 Different Types of Trusts To Fit Your Needs
We’ve written before about the benefits of using Trusts in your Estate Plan. Estate Planning is the process of working with an attorney to create a legally-binding plan for what will happen to your belongings, property, and money after you pass away. Estate Planning can be accomplished through many methods, including Trusts. A Trust is a fund that is managed and protected by a third-party. It is funded by you, to be Read More
Your New End of the Year Estate Planning Habit
Last month, we wrote about the life events where you need to update your Estate Plan. If you’ve recently gotten divorced, welcomed a new child into your family, or even moved to a new state, you need to update your Estate Plan to reflect that. Estate Planning is the process of working with an attorney to create a legally-binding plan for what will happen to your remaining belongings, property, and money after you Read More
5 Times When You Need To Update Your Estate Plan
Estate Planning is the process of working with an attorney to create a legally-binding plan for what will happen to your belongings and property (known as your estate) and your remaining money (known as your assets) after you pass away. If you don’t create an Estate Plan, these decisions are made by a Judge in probate court, not by your family or loved ones. Estate Planning encompasses a lot of different methods, Read More
Wills vs. Trusts: What’s the Difference?
When most people think of Estate Planning, they think of a Will. Whether it’s written on a napkin, on a file on your laptop, or hastily told to someone you love when you get sick, a Will is the full extent that most people will think through their Estate Plan. However, these hand-written Wills often don’t hold up in court - and Wills are just one method of creating an Estate Plan. Estate Planning is the process of Read More
Estate Planning is Easier Than You Think
Most people know they need to make time for Estate Planning, but keep pushing it to the back of their To Do list. Especially if you have never done it before, Estate Planning can feel intimidating. Working with an attorney is something people normally only do if they’re in trouble, and seeking one out feels like a lot of work. Here’s the secret: Estate Planning is a lot easier than you think. Estate Planning is the Read More
How To Pick the Best Guardian For Your Children in New Jersey
One of the most important and often overlooked elements of a strong Estate Plan is guardianship. Estate Planning is the process of working with an attorney to create a legally binding program for what will happen to your property and belongings (known as your estate) and your money (known as your assets) after you pass away. The standard entry point to Estate Planning is writing a Will, but there is much more to the Read More
