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September 2013 Archives

Expert witnesses may testify in Cohen estate dispute

A Hackensack courtroom was the scene of the latest episode in the long running legal battle over the estate of Robert Cohen. Mr. Cohen's granddaughter claims that her uncle James Cohen, the son of the founder of Hudson News, exercised undue influence over her grandfather in the waning years of his life, causing him to change the will in such a way that James seized control of the estate and family business and left her disinherited. She has retained the services of two expert witnesses to help make her case.

Financial planning for Alzheimer's patients

New Jersey residents who are older sometimes end up developing Alzheimer's disease, and as the population continues to age, the number of Americans with this disease is expected to rise. Currently, more than five million people have Alzheimer's, and the rate of individuals with this disease doubles every year after the age of 65. Since this medical condition leads to decreasing memory and abilities, financial and nursing home planning are essential.

Estate planning is not just for the wealthy

When most New Jersey residents consider estate planning, they usually think about wealthy people with considerable assets to protect and high powered legal teams to provide that protection. However, making estate decisions earlier rather than later makes sense for people of all ages and income levels.

Estate planning a kind move to make for New Jersey families

One of the most thoughtful acts that an older person in New Jersey can take part in for his or her family is to relieve them of the stress and heartache that comes with having to figure out their dying wishes. Estate planning is not always comfortable for the person doing it, experts say, but that's why it's such a valuable gift to one's family.

What happens if witnesses to a will signed long ago?

New Jersey residents looking pass on their estates after they die may have made wills that they wish to be upheld. However, depending on how long ago the wills were written, witnesses may need to be tracked down to confirm that they witnessed the signing. This is the case for all wills written before Sept. 1, 1978. Wills written after that date are considered to be "self-proving," and further confirmation at a probate court is not necessary.

NJ residents need estate planning now more than ever

New Jersey residents may be interested in learning how some information may affect them as far as estate planning is concerned. Many people may believe they do not need estate planning because their estates are not large enough to be affected by federal taxes. However, there are many valid reasons for people to plan for who should receive their assets when they die.

IRS issues new guidance for same-sex married couples

New Jersey same-sex couples may be interested in new policies from the Internal Revenue Service that may open up new avenues for smart estate planning. The Treasury Department announced on Aug. 29 that the IRS will now recognize legal same-sex marriages for the purposes of calculating federal taxes. The ruling will mean significant changes to tax planning and asset protection planning for same-sex couples. New guidance on same-sex couples had been expected after a portion of the Defense of Marriage Act was defeated on June 26.