Children’s Rights in New Jersey Estate Planning
When it comes to estate planning, many people assume their children—especially adult children—have automatic rights to manage financial matters or inherit assets. In New Jersey, that assumption can lead to confusion and unintended consequences. This article explains what rights children do and don’t have in relation...
Who Has Standing to Challenge a Will in New Jersey?
When a New Jersey resident passes away, their estate must go through the probate process before their assets are distributed in accordance with the terms of their last will and testament. During probate, the decedent’s will is verified and the estate’s debts are settled before any assets are distributed. Verifying...
The Different Types of Powers of Attorney
A power of attorney is an estate planning document that allows an individual to appoint a person to manage their financial and legal affairs if they are unable to do so. The person who drafts a power of attorney is called the principal, and the individual who is given authorization to manage legal and financial...
Can You Sue an Estate Executor in New Jersey?
The person tasked with administering a deceased New Jersey resident’s estate is called the executor. He or she is appointed by a probate court in the country where the decedent resided, and it is usually the person the decedent named in their last will and testament. If a deceased New Jersey resident did not leave a...
Pour-over Wills and Living Trusts
Understanding Pour-over Wills and Living Trusts People can place their money or property in a living trust on behalf of a beneficiary while they're still alive, which they often do to avoid probate and decide what happens to their assets. Even though estate plans are designed in part to help people protect their...
Debunking Common Excuses for Not Having an Estate Plan
Common Myths to Ignore Regarding Your Estate Plan According to a poll taken in 2021, 56% of respondents said that estate planning was something that should be taken seriously. However, that same poll found that, at the time, only 35% of Americans actually had some sort of written plan in place. Let's take a closer...
Is a Holographic Will Valid in Your State?
Is a Holographic Will Actually Valid? Over half of all states allow people to use a holographic will to bequeath their belongings to others. However, this type of will has some unique requirements if you want it to be legally valid. Whether it can actually be used after your death depends on a few factors. What Is a...
Everything You Should Know About Step-up in Basis
When you're creating an estate plan or inheriting certain assets from a family member, the step-up in basis rule will likely apply to most of the assets. Of the 40% of American adults who have created a will, many overlook what the step-up in basis means for inherited assets. Understanding how this guideline works...
Steps to Ease Your Children Into Estate Planning
Estate planning is a process that many people don't begin until they are in their 30s or 40s. Around 67% of Americans don't have any type of estate plan in place, which indicates that many people don't understand the importance of having one. Creating an estate plan early in your life can help you prepare for the...
The Single Person’s Guide to Estate Planning
If you're single, there are fewer automatic rules about who gets your assets or who helps with your healthcare. To avoid any issues, it's a good idea to create an estate plan that addresses these matters. The Single Person's Guide to Estate Planning The number of Americans choosing to stay single is on the rise, and...