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Phone: 201-345-3018
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Phone: 201-345-3018

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November 2015 Archives

Estate planning and the storage of digital assets

When most people think about digital assets, they consider the sentimental value of those items. This includes family photos that are stored online, blog entries and social media postings. While many New Jersey family members would love to have access to those memories, there is another side of estate planning that concerns digital assets that hold significant monetary value.

How insurance plays into the estate planning process

New Jersey residents have a number of tasks to address while creating an estate plan. One of the aspects of estate planning that is often overlooked involves life insurance and the role that this coverage plays in providing for loved ones who are left behind. While not every family will need life insurance coverage, it is a good fit for any family in which the income of one or more parties is needed to maintain the current standard of living.

Reduce the risk of business estate planning strife

For many New Jersey business owners, every reasonable attempt is made to keep emotion outside of business decisions. While this approach is laudable, it is very rarely successful. Businesses involve people, and when people are part of any equation, emotions are part of the package. Whether a business is family-owned, closely held or publicly held, a wide range of problems can arise when an owner dies. The following estate planning tips can help business owners create a plan that can minimize those areas of contention.

Broaching estate planning during the Thanksgiving holiday

Thanksgiving is a time to reflect on all of the aspects of our lives for which we are thankful. It is also a time when families gather under the same roof, which can be a rarity for New Jersey families with loved ones who live far away. Having the family together and in a frame of mind to focus on gratitude is a perfect opportunity to broach the subject of estate planning.

Is it possible to write your own simple estate plan?

New Jersey residents work hard for their money, and many of us look for ways to save a dollar or two whenever possible. The Internet has been invaluable for penny-pinchers, and information is now readily available for a wide range of tasks. Many people are more likely to try their hand at changing their own oil, addressing a leaking faucet or making their own bread, all because there are informational videos and websites that can outline the proper steps. When it comes to creating a simple estate plan, many do-it-yourselfers wonder if this is another area in which they can cut costs.

Not everyone in New Jersey has considered estate planning

New Jersey residents are not unlike others in that many prefer to secure financial plans for their futures. However, some fail to include estate planning as part of those considerations. For those who have questions about the key elements of developing an adequate estate plan, there is legal help available in the area that may be of benefit to them.

How to handle an IRA with estate planning

Many New Jersey residents wish to pass down their retirement savings to their surviving spouse. In order to make the best possible estate planning choice, it is important to understand how investment vehicles such as IRAs are handled with estate plans. Making the right choice can give a surviving spouse a great deal of financial peace of mind, which is truly a gift of love that one spouse can provide to the other.

Wealth preservation and real estate for New Jersey residents

Many New Jersey families have worked very hard to purchase their primary residence, and some are also fortunate enough to have vacation property. When creating an estate plan, it is important to understand how real estate is handled. Making the best possible choices can aid in wealth preservation and can ensure that property is passed down in the manner that is intended.

Nursing home planning is a gift to loved ones

When many New Jersey families consider planning for the chance that loved ones might need nursing home care, the focus is on giving family members the care and respect they deserve. It is important to note, however, that taking care of nursing home planning is also a gift to the rest of the family. This is especially true for individuals who have played pivotal roles in caring for elderly loved ones.