Mitt Romney, in an effort to garner support from farmers in the Midwest, promised to abolish the estate tax earlier this week during a campaign in Iowa. As our New Jersey readers may know, the Bush-era tax cuts are set to expire at the end of the year, and there has...
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Ridgewood Estate Planning Blog
It pays to be savvy when setting up a trust
On Behalf of The Manna Helmy Law Group | Oct 6, 2012 | Trusts
Even as we age, we never stop filling out paperwork. This is especially true for parents of children with disabilities seeking to set up a trust for their child. Decisions about this process may affect the parent's own eligibility for Medicaid. To qualify for Medicaid...
Is there a payoff to establishing a living trust?
On Behalf of The Manna Helmy Law Group | Oct 5, 2012 | Trusts
Establishing a living trust has its benefits, but not necessarily all those typically hoped for. While some people may want to avoid probate court by having a living will in place, this may not be the best reason. In New Jersey, the costs of probate relate directly to...
What should boomers keep in mind about estate planning
On Behalf of The Manna Helmy Law Group | Sep 27, 2012 | Estate Planning
We like to point out from time to time on this blog that estate planning is not primarily a task or an event, but rather an ongoing process. While an initial estate plan may take a matter of weeks or months to put together, estate planning itself is not something that...
Keeping estate plan simple is often best
On Behalf of The Manna Helmy Law Group | Sep 26, 2012 | Estate Planning
While estate planning it can be a very involved and complicated process, it does not have to be that way. In fact, it's often better to keep things simple. This is especially true in the area of children-grandchildren relationships. Many people are concerned about how...
Actor’s body put on ice due to will dispute
On Behalf of The Manna Helmy Law Group | Sep 21, 2012 | Probate, Wills
Probate disputes can get pretty personal, but they don't often involve disputes over what to do with the estate owner's body. That is the case presently with the estate of Sherman Hemsley, the actor who played the curmudgeonly George Jefferson on the television series...
What to consider in selecting a trustee, P.2
On Behalf of The Manna Helmy Law Group | Sep 19, 2012 | Trusts
In our previous post, we began looking at some things to take into consideration when selecting a person to manage trust assets. As we've already mentioned, the size and complexity of trust assets can be a large factor in determining who will be the best selection....
What to consider in selecting a trustee, P.1
On Behalf of The Manna Helmy Law Group | Sep 14, 2012 | Trusts
Trusts are a common instrument used in estate planning, and are very versatile. Trusts can be used for businesses, protecting children, and tax planning benefits, but regardless of the reason a trust is set up for, a trustee will have to be selected to be in charge of...
Survivorship insurance allows heirs to avoid having to sell illiquid assets to pay estate taxes
On Behalf of The Manna Helmy Law Group | Sep 12, 2012 | Estate Planning
Estate planning can be a complex process, with many things to take into account. One of the issues in estate planning that is sometimes overlooked is the importance of providing funds for an estate to pay its estate taxes. When that happens, heirs may be forced to...
Season tickets for University of Georgia cause long-time estate dispute, P.2
On Behalf of The Manna Helmy Law Group | Sep 8, 2012 | Probate
In our last post, we began to look at an ongoing dispute between the children Frank Lumpkin Jr., who was by all accounts a die-hard Georgia athletics fan. We left off noting that disputes over season tickets are not all uncommon in probate. For die-hard fans like the...