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Estate planning is concerned with the use, conservation and disposition of a person’s property and wealth. This involves two elements: (1) minimizing the gift or estate tax consequences that occur when a person’s property is passed to another either during life or at death; and (2) provisions for taking care of the decedent’s spouse and [...]
New Jersey and Maryland levy both types of tax.
There are many other viable estate-planning tools and techniques that should be discussed with your tax adviser, but the key is to plan ahead.
If you are the executor of a will there are many things you must do to get that will ready for probate. Probate means the process by which the deceased’s assets are gathered; outstanding debts, taxes, and expenses of the funeral and the probate process are paid; and the assets are distributed to the beneficiaries [...]
The legal process of transferring of property upon a person’s death is known as “probate.” Although probate customs and laws have changed over time, the purpose has remained much the same: people formalize their intentions as to the transfer of their property at the time of their death (typically in a will), their property is [...]
Probate is the process whereby a Will is proved to be valid by a Surrogate, who has the authority to determine the authenticity of such a document. It also involves appointing an individual for an Estate when someone dies without a Will.
Probate is done when someone dies with assets in their name alone. The individual [...]
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 [...]
The procedures in an estate administration may take from six months to several years, and a client’s patience may be sorely tried during this time. However, it has been our experience that clients who are forewarned have a much higher tolerance level for the slowly turning wheels of justice.
The following is a portion of the [...]
A lawyer involved in a probate dispute must be able to advise his or her client both about the client’s legal rights and remedies and about the client’s options for resolving the dispute. If the lawyer advises the client only about the costs and chances for successfully litigating the dispute, the lawyer will not have [...]