In our previous post, we began discussing the changes in the gift and estate tax system for 2011 and 2012. Here we continue that discussion. Beyond the financial and political considerations of making large gifts over the next two years, there are certain emotional...
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Ridgewood Estate Planning Blog
Probate overview: gathering assets and paying creditors
On Behalf of The Manna Helmy Law Group | Feb 8, 2011 | Probate
In our previous post, we looked briefly at the process of gathering together estate assets and paying off debts and taxes of the estate. In this post, we'll look at the final step of distribution of estate assets. The final step of probate administration is to...
Probate overview: distribution of estate assets
On Behalf of The Manna Helmy Law Group | Feb 8, 2011 | Probate
In our last post, we looked at an article which gave an overview of the first steps in the process of estate administration, specifically establishing the authenticity of an estate and appointing a legal representative. In this post we will look at a brief overview of...
Overview of probate administration in New Jersey
On Behalf of The Manna Helmy Law Group | Feb 4, 2011 | Probate
A recent article on NJ.com explored the basic process of probate administration in New Jersey. Firstly, if there are no assets that are titled in decedent's name alone, there is generally no need for probate. But a will needs to be probated if there are any assets...
Estate planning for one’s elderly parents
On Behalf of The Manna Helmy Law Group | Feb 1, 2011 | Estate Planning
It is quite common for individuals to start thinking about building an estate plan once they have children, as they naturally begin to consider who will manage the assets left to the children and who will act as guardian in the event of untimely death. However, adults...
Mental illness a barrier to some in the creation of estate plans
On Behalf of The Manna Helmy Law Group | Jan 28, 2011 | Estate Planning
Last week we discussed a study that found African Americans were less likely to have certain estate planning documents in some situations. Specifically, they were less likely to have advance directives or living wills when they were residents of a nursing home or...
Are Reverse Mortgages a Sound Estate Planning Tool?
On Behalf of The Manna Helmy Law Group | Jan 26, 2011 | Estate Planning
Is a reverse mortgage a good financial move? Well, the answer to that question is the same as just about all legal questions - it depends. For some people, a reverse mortgage may turn out to be a good estate planning decision that allows them to use their home equity....
Lawsuit Filed in Connection With the Will of a Music Icon
On Behalf of The Manna Helmy Law Group | Jan 21, 2011 | Estate Planning
When someone famous passes away, it is still possible for his or her estate to continue earning money. Consequently, the deaths of many celebrities give rise to litigation based on estate planning documents, such as wills and trusts, because their beneficiaries often...
Study Shows Racial Gap in use of Living Wills, Advance Directives
On Behalf of The Manna Helmy Law Group | Jan 20, 2011 | Estate Planning
A recent study seems to indicate that a growing number of people are utilizing documents such as living wills and advance directives. However, in an interesting twist, there also seems to be a gap between black individuals and white individuals when it comes to using...
State Governor Signs Pet Trust Legislation
On Behalf of The Manna Helmy Law Group | Jan 15, 2011 | Estate Planning
Some Massachusetts pet owners breathed a sigh of relief last week after Governor Deval Patrick signed a much anticipated piece of pet trust legislation. The legislation authorizes trusts to be created for the care of a pet or pets after if pet owner were to die or...