Your Information source for wills, trusts, estate tax minimization,
powers of attorney, living wills, health care directives, special needs trusts,
asset protection, charitable giving, guardianship, succession planning,
retirement and estate administration. |
Estate planning affects women more profoundly, so they should take charge of this process, or at least be equal participants. Among Americans 65 and older, 42% of women, but just 14% of men, are widowed. Women’s longer life expectancy, combined with their tendency to marry older mates and their lower lifetime earnings means they are far more likely to [...]
With the ever-growing presence of online and electronic documents, records and accounts, it is becoming essential to keep track of your passwords. Consumers have had access to military grade cryptography for decades, and while it offers an amazing level of protection during life, it can have unintended consequences upon your death, possibly preventing your heirs [...]
The best way to address concerns raised by assets in the electronic age from an estate planning and estate administration perspective is to employ some practical advice: •Each spouse keeps a spreadsheet of Institution Name, Website, Account Number, User Name, Password •The spreadsheet is updated WHENEVER a change is made •Save the spreadsheet to a [...]
The greatest fear for any parent is hearing that their child is having a medical emergency. Whether it be a car accident or a physical or mental catastrophe, the parents are immediately notified and rush into action. Did you know that if your children are age 18 or older, that you are no longer able [...]
The New Jersey estate tax is now imposed upon the transfer of the estate of every resident decedent which would have been subject to a Federal estate tax under the provisions of the Internal Revenue Code in effect on December 31, 2001.
On December 17, 2010 President Obama signed into law the “Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010.” The new law: • Extends for two years the current income tax rates and other income tax rates commonly called the “Bush Tax Cuts.” • Provides tax incentives to businesses • Cuts federal estate [...]
Estate administration in New Jersey is the process by which a deceased person’s property, known as the ‘estate,’ is passed to his or her heirs and legatees (people named in the will). Estate administration encompasses all assets of the decedent – real estate, joint accounts, insurance, IRA’, etc. – anything and everything a decedent had [...]
1. Disinheriting the child. When a special needs child is disinherited, that child will need to depend on government benefits such as Medicaid and Supplemental Security Income (SSI). While these programs can be greatly beneficial, it is not wise to rely solely on them to provide security. Instead, establish a special needs trust (SNT) which [...]
1) How do I begin the probate procedure? The person that wishes to be appointed to represent the Estate will bring a certified copy of the death certificate and the original Will. The probate cannot be completed until 10 days after death. 2) Who has the right to be appointed when a person dies without [...]