New Jersey residents who are married may wonder about the process of setting up an estate plan for a spouse. Some spouses simply hold assets jointly, titled so that a spouse automatically inherits them at the time of death, or they have a basic will that leaves...
Many people may believe that estate planning only benefits the elderly or the very wealthy; however, estate planning is important for everyone, even those with limited assets. Estate planning includes wills, but it also includes living trusts. If an individual dies...
When planning an estate, most people automatically think of the very rich since the exemption for an estate tax is more than $5 million. However, an estate tax is not the only issue involved in estate planning. Most people, no matter their social status, need to make...
Over the years, the American people have moved huge portions of their lives to the Internet. From socializing with friends and business associates to shopping and banking, people spend a great deal of time on the Internet. As part of this shift, "digital assets" have...
Since 2001, there have been many changes to federal tax laws regarding estates. In the complicated world of estate planning, the focus has been on exemption amounts and the tax rate above it, even in New Jersey. From 2001 to 2010, the exemption rate continually rose...
New Jersey residents may be interested in to hear that in 2012, a 97-year-old Holocaust survivor and real estate developer passed away, leaving no relatives and no heirs. He also apparently did no estate planning - and left an estate worth nearly $40 million. A...
Some people think that only "old" people die, or that estate planning is unnecessary for the young. On the contrary, estate planning is essential for people of all ages. An estate plan will help ensure that a person's wishes are respected should the person pass away...
It's important for New Jersey residents to plan how their estates will be distributed when the time comes, but many of them may not know the importance of the estate planning process. Without a solid estate plan, their children don't always know what assets they own,...
A unique trend is emerging among Baby Boomers as they plan for retirement. Many are now attempting to position themselves through a process known as Medicaid planning to be more likely to qualify to receive Medicaid while still preserving their assets.Medicaid, a...
Medical care is expensive, and this gets even truer as people get older, especially if they develop a serious illness or have to move into a nursing home. In these situations, even people who have set aside a significant amount of assets for retirement may have a hard...
