As many in New Jersey consider how to pass on their wealth to loved ones, the issue of responsibility often arises. Parents and grandparents want to create an estate planning package that allows their heirs to access an inheritance, but also want to ensure that those...
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Ridgewood Estate Planning Blog
Estate planning for couples without children
On Behalf of The Manna Helmy Law Group | Nov 11, 2014 | Estate Planning
For the majority of New Jersey residents, the primary focus of their estate planning involves how to pass on their assets to children and grandchildren. However, there are many couples who do not have children, and their estate planning needs are somewhat different....
Estate planning tips: Common trust fund errors
On Behalf of The Manna Helmy Law Group | Nov 8, 2014 | Estate Planning
Most New Jersey residents are aware of the benefits of establishing one or more trusts. These flexible estate planning tools can help individuals protect assets from excessive taxation and can give families the ability to bypass probate. However, in order to access...
Addressing collections within estate planning
On Behalf of The Manna Helmy Law Group | Nov 6, 2014 | Estate Planning
Many New Jersey residents have amassed impressive collections. Some focus on more traditional items, such as stamps or coins, while others favor collections of a more esoteric nature. In fact, some collections are so unique as to lead others to wonder why anyone would...
DIY estate planning, is it worth it?
On Behalf of The Manna Helmy Law Group | Nov 2, 2014 | Estate Planning
The do-it-yourself lifestyle is alive and well here in New Jersey. An increasing number of people are interested in learning how to remodel homes, plant gardens or learn a variety of other valuable skills that will benefit themselves, their families and their...
Increase in estate tax exemption can help with gift taxes
On Behalf of The Manna Helmy Law Group | Oct 31, 2014 | Inheritance And Estate Tax
Each year, the IRS announces how much the estate and gift tax exemptions will be for the following year. Recently, the announcement was made that the estate tax exemption will rise to $5.43 million per person, and the annual gift tax exemption remains at $14,000 for...
How a vacation home factors into estate planning
On Behalf of The Manna Helmy Law Group | Oct 25, 2014 | Estate Planning
Some families are fortunate enough to have bought a vacation home, and can share that property with those they hold dearest. When the time comes to create an estate plan, some in New Jersey are unsure how to address their vacation home within the scope of their estate...
A sad but true estate planning and probate reality
On Behalf of The Manna Helmy Law Group | Oct 23, 2014 | Probate
Much has been written, here and elsewhere, about the need to create and maintain a thoughtful drafted estate plan. That said, the reality is that many in New Jersey and across the nation will not address this important need, and their heirs will be forced to go...
Estate planning during one’s younger years
On Behalf of The Manna Helmy Law Group | Oct 17, 2014 | Estate Planning
When many New Jersey residents consider estate planning, it is a topic that they believe is geared toward those who are nearing their retirement years. Younger people often fail to recognize the need to create a solid plan that can be used in the event of their...
Estate tax and college savings accounts
On Behalf of The Manna Helmy Law Group | Oct 15, 2014 | Inheritance And Estate Tax
Many New Jersey readers are aware of the tax benefits of establishing and funding a Section 529 college savings account. The money deposited within is allowed to accumulate interest tax-free, and there is no penalty for withdrawing funds to cover the cost of tuition...