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Estates and Trusts
Estate planning may include a variety of documents, depending on your
specific needs, among them: a will, living will, trust, pre-nuptial
agreement, power of attorney, guardianship, insurance plan, buy-sell
agreement or health care proxy. Creating an estate plan is an important
process at any stage in one's life, not just for the elderly. Starting
early affords you more time to rationally decide on all of the options you
may want to consider without the time pressures of an emergency like a
medical dilemma or the progression of an illness. An estate plan will also
need to be revised as your life changes, such as by marriage, the birth of
children, receiving an inheritance, building a successful business or
practice, or retirement, just to name a few factors. While we counsel
clients to plan ahead, we can also react quickly when there is an emergency
or situation demanding a speedy response.
Estate planning encompasses a broader, business oriented
concern if you own a business or practice. In these cases, it is important
to consider how the enterprise will go forward when you leave it. Who will
run it, own it and how should that transfer take place, are some of the
issues to be addressed. This aspect of estate planning, called 'business
succession planning', should be an integral part of your overall estate
plan. When your estate plan considers both personal and business assets you
will have a comprehensive strategy for dealing not only with the transfer
of those assets, but will also consider the best tax minimization effects.
The estate planning process starts with a consultation with
Peggy Sheahan Knee or Robert Knee, during which time you can jointly define
your estate planning goals, whether they are to minimize taxes, preserve
wealth, plan for the inheritance of your assets, or to set up trusts to
shelter or provide income. The attorney you confer with will explain
options you may have, and answer your questions and concerns. While a will
or trust is frequently the cornerstone document in an estate plan, other
documents such as a prenuptial agreement, health care proxy or living will
may also be part of your plan.
There are many new and important changes in the estate
planning, particularly for residents of the State of New Jersey. For
example, New Jersey substantially revised its estate tax to
"decouple" from the federal estate tax system. This means that
New Jersey residents will only be entitled to an exemption of $675,000 at
the time of death. In addition, new legislation was enacted in New Jersey
effective February 27, 2005 that substantially revises the New Jersey
Probate Code. Peggy Sheahan Knee has been a leader when dealing with these
important legislative changes, and she is equipped to guide you through a
comprehensive explanation and review as to how these important legislative
changes affect you.
The following is a list of our Estates & Trusts services:
- Business Succession Planning
- Estate Planning and Trusts
- Wealth Planning
- Contested Estates and Estate Litigation
- Pre and Post-Nuptial Agreements
- Estate Administration
- IRS Disputes
- Tax Minimization Strategies
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Elder Law
Our elder law services focus on the particular needs of people
over the age of fifty in areas that are often interrelated. In addition to
general elder law planning, services may include pre and post Medicaid
planning, guardianships, conservatorships, estate planning for the
community spouse, fair hearings and appellate work, contested estates,
estate administration and asset protection planning such as family limited
partnerships and the protection of a family's assets from nursing home
claims.We guide our clients through the difficult process of applying for
Medicaid and have made numerous, successful applications for our clients.
Peggy Sheahan Knee is Certified as an Elder Law Attorney by
the National Elder Law Foundation, an organization accredited by the
American Bar Association.
The following is a list of our Elder Law Services:
- Medicaid Planning, Fair Hearings
- Estate Planning for the Community Spouse
- Guardianship, Conservatorship
- Disabilities Planning, including Supplemental Needs
Trusts
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Estate Litigation
When a dispute arises as to the disposition of a loved
one’s estate, trust or other asset, The Knee Law Firm is well
equipped to handle the dispute. Our attorneys can challenge, defend and
institute proceedings that will protect your right to an inheritance. We
handle the case from filing, trial to appeal and have appeared before the
New Jersey Supreme Court in such matters. We handle will contests,
fiduciary litigation, interpretation and construction of wills and trusts
and accounting proceedings.
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Business Law
We help clients throughout their business or professional lives with
decisions and issues both large and small. If you are starting a business,
we can help you choose the best form of business entity (partnership,
limited liability company or corporation) to minimize taxes, liabilities,
and to maximize your business strategy. Throughout the life cycle of your
business or practice we act as your legal partner in all areas listed
below, as well as help you form the most advantageous contracts and
relationships with customers, clients, vendors and alliance partners.
Because we are also estate planners, we can assist you with your business
succession planning so that you are prepared for the future in terms of who
will operate or own the business when you leave or retire, or in the event
of an illness.
The following is a list of our business services:
- Business Formation
- Commercial and residential real estate transactions
- Business and real estate financing
- Wealth Planning
- Dissolutions
- Purchase or sale of a business or practice
- Business succession planning
- Tax strategies
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inheritance, wills, living will, retirement, New Jersey, NJ, Bergen County,
Peggy Knee, Peggy Sheahan, Knee, Robert Knee, Peggy Sheahan Knee
The Knee
Law Firm, LLC
21 Main Street, Court Plaza South, Hackensack, New Jersey 07601
Tel: (201) 996-1200 Fax: (201) 996-1202
info@kneelaw.com
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