Understanding what makes your estate planning complete can be difficult, especially if this is your first time through the process. As you consider your options and put together your choices for wills, trusts, and other pieces of your larger estate planning picture, it is also important to think about your decisions about end of life care. While some people do not develop strong feelings about the measures used to preserve their lives during a medical emergency and choose to let the doctors' recommendations stand, many people wish to set limits on the treatments they will endure if they move past a certain point of physical incapacitation.
Many of us in New Jersey have some very specific requests for the ends of our lives, but if we want them fulfilled, we have to let our families and loved ones know about them now. It is important to work with both an estate planning attorney and family members to ensure that our final wishes are not ignored.
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 the length of the will, specifically the number of pages, and have no connection to the value of the estate. This is something to keep in mind when doing estate planning, as is the fact that spending money to establish a revocable trust does nothing to save on death taxes.
A recent article out of the Wall Street Journal addressed the interesting topic of the place of religion in estate planning. One of the messages of the article was that you can't do adequate estate planning without at least asking the question of how/whether religious beliefs factor into your estate plan.
In our previous post, we began looking at CNN Money's recommendations and advice concerning basic estate planning. Here we continue that discussion.
On this blog, we often provide our readers with advice about simple estate planning and basic things to keep in mind when going through the process. CNN Money recently posted a top ten list of things to keep in mind regarding estate planning, along with a number of other articles discussing particular aspects of 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 these planning documents.
The beginning of a new year is a natural time to look out and think about what the future has in store for you and your family. For those with young or newborn children, the immediate future may include lack of sleep, warming bottles, plenty of diaper changes, and little time for much else; but the long-term future needs a little attending to as well.
Advance care directives are detailed requests for specific medical treatment, or the withholding of certain treatment, in the event that you become disabled and are not capable of giving such direction.
More often than not, estate planning is looked at as a way to ease the transition of an individual's assets to the custody of friends and loved ones. This is, indeed, what estate planning can and should be used for, but should it be the first priority of the forward-thinking estate planner?