Category Archives: Estate Planning
Revocable or Irrevocable Trust: Which Type is What I Need?
If you have been thinking about creating an estate plan or expanding your estate plan by creating a trust, you likely have questions about the wide range of trusts that are available to be established in New Jersey. For many New Jersey residents, questions arise about the differences between revocable and irrevocable trusts, and… Read More »
Estate Planning for Retirees in New Jersey
Any retiree (or someone nearing retirement) who does not yet have an estate plan should begin working with a New Jersey estate planning attorney as soon as possible. Your age at retirement depends on your individual circumstances, as well as the year you were born as far as Social Security retirement goes. Generally speaking,… Read More »
Can I Make a Handwritten Will in New Jersey?
Are you ready to sit down and make a will? If so, you might be wondering if you can simply write out a will yourself and let your loved ones know where it is so that your wishes can be carried out when you die. But can you simply create a handwritten will and… Read More »
Why a Divorce Requires Updating Your New Jersey Estate Plan
When you are planning for a divorce or currently going through one, it can be difficult to focus on issues outside the legal ones related to the distribution of marital property and matters pertaining to child custody. Yet another major legal issue that you will need to address in connection with your divorce is… Read More »
Leveraging the Gift Tax Exclusion
As of January 1, 2026, the federal estate tax threshold is set at $15,000,000. That exemption amount means that an individual will only need to file an estate tax return, and may be assessed federal estate tax, if their estate exceeds $15 million. For individuals in Summit and in the nearby New Jersey area,… Read More »
Business Succession in Your New Jersey Estate Plan
Do you currently own a business or have substantial business interests that you want to pass down to your children, grandchildren, or other loved ones or trusted associates? If so, business succession strategies should be part of your estate planning process. What does business succession look like in New Jersey, and what will you… Read More »
Gift Tax Exclusion Remains at $19,000 for 2026
Part of the estate planning process for many residents of Summit and the surrounding area in New Jersey involves strategizing about ways to minimize estate taxes. Changes made through the One Big Beautiful Bill Act (OBBBA), which was passed in 2025, set the federal estate tax exemption for 2026 at $15 million per person,… Read More »
Should I Consider Putting My Real Property Into a Trust?
Trusts are a central component of many New Jersey estate plans. There are various benefits that trusts provide in general, such as allowing beneficiaries to receive assets without having to go through probate. There are also many specific types of trusts that a person can establish in New Jersey for particular purposes, such as… Read More »
Protecting Your Assets from Medicaid through Estate Planning
The idea that estate planning involves asset protection is somewhat common. To be sure, many New Jersey residents work with an estate planning lawyer to make sure that their assets are inherited by the family members or entities of their choosing, or to minimize estate taxes when it comes time for their estate to… Read More »
What Are the Essential Components of a New Jersey Estate Plan?
If you are beginning to think about estate planning, it is important to have a broad sense of some of the essential components of an estate plan in New Jersey. Every person’s estate plan will be tailored to their specific needs, so it is essential to work with an estate planning attorney in Summit… Read More »