Category Archives: Estate Planning
Estate Planning for Small Business Owners
Small business owners in the Summit area and elsewhere in New Jersey often spend a significant amount of time and money to create the market value and sweat equity associated with their small business. For many small business owners, the services they provide and the goods they sell are a central part of their… Read More »
Putting Your Home in a Trust: What to Consider
If you have never considered estate planning and asset protection with a lawyer in Summit who handles estate planning and elder law matters, it might sound like a strange idea to you to put your home in a trust. However, there are multiple benefits to placing your house in a trust, and those benefits… Read More »
Estate Planning in New Jersey for Unmarried Couples
Fewer adults are getting married than they used to, according to the Pew Research Center. While nearly 40 percent of adults are now living without a romantic partner altogether, there has also been an increase in the number of couples who cohabit and share lives without getting married. There are many different reasons that… Read More »
Estate Planning for Blended Families
Blended families are extremely common in New Jersey. If you are newly in a blended family, or if you became part of a blended family some time ago, it is important to consider key issues for blended families in estate planning. Whether that means revisiting an old estate plan or creating new estate planning… Read More »
Reasons to Consider a Spendthrift Provision in a Trust
Many New Jersey estate plans contain one or more trusts. Trusts are important legal arrangements through which assets can be placed by one party (the “grantor” or the “trustor”) for the benefit of another party (the “beneficiary”). The trust is then managed by a party with the title of “trustee.” A trustee may in… Read More »
Who Should Consider a Special Needs Trust?
Have you already created an estate plan in New Jersey and are wondering about the addition of one or more trusts? Or are you just beginning to think about estate planning and want to find out about creating a trust? Under either circumstance, you might have started looking into the types of trusts that… Read More »
What Are Charitable Remainder Trusts?
For many Summit, New Jersey residents, establishing a trust is an important part of estate planning. While estate plans have various components that almost always include a will and advance directives, numerous estate plans also include one or more trusts. Depending on an individual’s circumstances, a trust can be necessary to provide for a… Read More »
Why All Single Parents Need an Estate Plan
For single parents in Summit who have minor children, it is especially important to have an estate plan in place so that you can have the certainty that your kids will have the care and support they need in the event that you are not here to provide it. There are different ways in… Read More »
Inheritance and Estate Taxes: What to Know for Estate Planning
If you have a high net worth estate, it is essential to discuss inheritance and estate taxes with your estate planning lawyer in Summit. New Jersey has a state inheritance tax, and a federal estate tax may apply, depending on the value of your estate. Some people and entities are exempt from the inheritance… Read More »
Guardianship Versus Conservatorship
Estate planning involves a wide range of considerations, and each person or family will have specific estate planning considerations that are particular to their circumstances, including tools for leaving assets to loved ones, ensuring that health care wishes are respected, and identifying a guardian for minor children in the event of an unexpected death…. Read More »