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Phone: 201-345-3018

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September 2011 Archives

Disabled children benefit from special needs trusts, P.1

A recent Wall Street Journal article drew attention to the usefulness of special needs trusts for parents with disabled children. Because disabled children often have diminished earning power or cannot manage their own affair, they present unique challenges for parents and caregivers.

Clarifying religious beliefs can assist with estate planning

A recent article out of the Wall Street Journal addressed the interesting topic of the place of religion in estate planning. One of the messages of the article was that you can't do adequate estate planning without at least asking the question of how/whether religious beliefs factor into your estate plan.

What can you do to avoid a will contest between children? P.3

In our previous post, we began looking at an article discussing possibilities for a parent looking to leave unequal inheritances to their children. As we noted, this can be a potentially problematic situation when one or more children feel they haven't received what they feel their parent would really have wanted them to receive. This may give rise to a will contest, which can be not only time-consuming and expensive, but stressful for the family. It is much better to take steps to avoid such things while there is still time.

What can you do to avoid a will contest between children? P.2

In our previous post, we looked at the difficulty some people face when determining which child gets what part of the estate. The fact is that it is often difficult and/or undesirable to give each child an equal inheritance. In cases where the inheritance setup is unequal, parents need to consider the very real possibility of legal problems down the road.

Problem heirs require extra planning

Inheritance can be a tricky issue in more than one way. There are often hard feelings and rivalry often at play in decisions about who gets what or how much and how they will spend or use their inheritance. There are also practical considerations concerning the potential for complications down the road. Among those who may become problem heirs are adult children, caregivers, and children-in-law.