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Two good posts coming from Leanna Hamill in Massachusetts and Tredway, Lumsdaine & Doyle in California on planning for children with special needs. Among the excellent suggestions are the following:Special Needs Trust – allowing parents, grandparents and guardians to provide funds for a special needs child without disrupting eligibility for government aid.Exploring the qualifications of [...]
Estate Planning in New JerseyYou can save a lot of money and potential chaos and hard feelings among those closest to you by preplanning how you want your assets managed when you are incapacitated, and how your property will be divided at your death.
Powers of AttorneyIn New Jersey, you can sign a durable power of [...]
You should name an executor in your will. In order to decide who is best to carry out this position, you need to know what responsibilities the position has.
The executor’s job is to start the probate process with the court, gather all of your assets, pay your debts, last expenses, and taxes, and distribute whatever [...]
Family Limited Partnerships, or more commonly now, Family Limited Liability Companies, are great vehicles for management and protection of family businesses, real estate, and investments. They also can be used to facilitate gifting, since interests in the entity given to junior family members typically qualify for minority interest and lack of marketability discounts. These discounts [...]
Trusts in General – A trust is a legal relationship that exists when one person or an entity (the Trustee) holds title to money or property for the benefit of one or more people (the Beneficiaries). The terms of the relationship are decided by the person providing money to the trust (the Grantor), and are [...]