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Phone: 201-345-3018

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Posts tagged "property"

Don't put off estate planning

Some residents of New Jersey may feel that estate planning is not necessary because they do not have complicated finances or all of their assets are held jointly with their spouse. However, estate planning only needs to be as complicated as someone's finances are, so those with basic planning needs will only need basic documents. Estate planning is important because not only does it distribute people's property after their passing, but it also can be used to put directives in place for someone's care while they are still alive. If someone is not able to care for themselves when they are older, a Power of Attorney and Health Care Proxy can ensure that individuals are taken care of in the manner they prefer. These documents can also determine who will be in charge of making choices if someone is not able to do so themselves.

What happens when a deceased person's estate owns out-of-state real property?

Out of state real property carries extra challenges in probate court when compared to other assets. Because such property cannot be transported across state lines, the state in which it resides has an interest in its administration, and a separate probate process is usually required to ensure that the proper parties receive title.

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