Will an asset protection trust protect your assets from creditors, lawsuits, or other financial risks? If you’re considering an asset protection trust or want to learn more about how it can fit into your estate plan, this article will guide you to the next step.
At some point, you’ll want to share your estate plans with your loved ones—and the first step in this process may be to hold a family meeting.
A letter of testamentary is created by the probate court for the executor or personal administrator of an estate.
Discover essential estate planning tips for blended families! Ensure fair asset distribution and protect your loved ones with these valuable strategies.
The loss of a loved one is a difficult time, often compounded by the necessity of addressing estate settlement and the liquidation of assets. In this guide, we’ll explore the key steps involved in liquidating assets after death, focusing on estate settlement processes and related legal considerations. Understanding the Role of…
A recent New Jersey Appellate Division decision should remind you to keep track of the designations of all non-probate assets to ensure that they pass in accordance with your testamentary intentions.
In an era where living to 100 is becoming increasingly likely, financial planning for retirement takes on a new level of complexity. The Yahoo Finance article, “Retirement Planning: Here’s How Much You’ll Need To Save If You Live to 100”, offers a comprehensive look at this challenge, highlighting the need for a radical shift in our approach to life and financial planning. Understanding the Longevity Revolution The “longevity revolution” concept discussed by Laura L. Carstensen, director of the Center for Longevity, suggests a significant societal shift. This revolution impacts various aspects of life, including health care, personal finance and retirement…
The sweeping tax overhaul enacted in 2017, known as the Tax Cuts and Jobs Act (TCJA), provided a number of income and estate tax reductions and changes.
In the contemporary world, digital assets have evolved to become an essential component of our lives. From emails and photos to online financial portfolios, these assets play a vital role and are of significant value. However, what happens to these assets when we are no longer around? Integrating digital assets in your estate planning is a step towards ensuring that these assets are managed and passed on according to one’s wishes. What is a Digital Asset? A digital asset is any content owned by an individual in digital form. This can include everything from email accounts and online accounts to…
Estate planning is a critical component of financial stability, ensuring that your wishes are honored in life and after death. In this digital age, online platforms offering do-it-yourself legal documentation have gained popularity, tempting many to wonder, “Should I use a DIY trust?” While these services seem convenient and cost-effective, they often fall drastically short of a reliable estate plan created by a seasoned attorney. Using a DIY trust can lead to numerous legal complications, emotional distress and financial loss. Do You Need a Will or a Living Trust? Understanding the Difference A living…