New Jersey residents who want to leave assets to their loved ones after their death must do more than prepare a will. A will outlines who gets property that doesn't have a named beneficiary. Assets such as retirement accounts, life insurance policies and joint bank...
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Ridgewood Estate Planning Blog
How to start estate plan
On Behalf of The Manna Helmy Law Group | Nov 25, 2013 | Estate Planning
New Jersey residents who want to avoid intestacy and want their loved ones to receive a specific portion of their estate may consider creating an estate plan. An estate plan puts the power in these individuals' hands and avoids the state laws regarding who should...
Estate planning may go smoother by following professional tips
On Behalf of The Manna Helmy Law Group | Nov 21, 2013 | Estate Planning
For New Jersey residents wanting to preserve their legacy and provide for later generations, an estate plan is a vital tool. While estate planning can involve a multitude of different documents and legal tools, financial professionals make some basic suggestions that...
Do not get complacent about federal estate tax exemption yet
On Behalf of The Manna Helmy Law Group | Nov 18, 2013 | Inheritance And Estate Tax
U.S. citizens may be pleased that the federal government has offered generous estate tax deductions; however, they should not get too complacent yet. New Jersey is one of the 19 states that still levy death taxes. Several states, including Washington, D.C., assess...
Some benefits of estate planning
On Behalf of The Manna Helmy Law Group | Nov 13, 2013 | Estate Planning
New Jersey residents may wonder exactly what estate planning is, what it entails or how it might benefit them. At its most basic level, estate planning is a way of ensuring that a decedent's assets are distributed in accordance with the person's wishes. There are...
Planning for retirement spending
On Behalf of The Manna Helmy Law Group | Nov 11, 2013 | Medicaid Planning / Nursing Home Planning
New Jersey residents who are planning for retirement may find the case studies of estate planning individuals interesting. Nursing home planning is an example of an area that should be carefully considered in retirement years, and many couples face concerns about...
Michael Jackson’s estate facing lawsuit from Quincy Jones
On Behalf of The Manna Helmy Law Group | Nov 8, 2013 | Probate
Just when it seemed as if all of the fiasco surrounding Michael Jackson's death may have subsided, producer Quincy Jones has brought forth a lawsuit against the deceased King of Pop's estate. In a probate challenge that will likely be heard of from Bergen, New Jersey,...
Estate tax rules differ widely by state
On Behalf of The Manna Helmy Law Group | Nov 4, 2013 | Inheritance And Estate Tax
While the Federal government is giving beneficiaries a generous estate tax exemption, states like New Jersey are not. In fact, New Jersey imposes an estate tax and an inheritance tax on estates with a value about $675,000. Some attorneys who do estate planning for...
Common mistakes made when estate planning
On Behalf of The Manna Helmy Law Group | Oct 31, 2013 | Estate Planning
New Jersey residents may wonder about common mistakes people make when establishing their estate plans. Being aware of a few common estate planning errors can help people know how to better manage their affairs. A very common mistake that people make is thinking that...
Beneficiaries determination based on asset type
On Behalf of The Manna Helmy Law Group | Oct 28, 2013 | Estate Planning
It is important to know the disposition of assets upon the death of a financial account holder. In New Jersey, the Multiple Party Deposit Account Act applies to accounts at banks, and the payable-on-death determination takes precedent over the terms in a will. If...