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Phone: 201-345-3018

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Estate Planning Archives

The role of gun trusts in estate planning

The number of Americans who purchase and own firearms has been on the rise in recent years. Statistics compiled by the National Instant Criminal Background Check System, which is run by the FBI, indicate that the number of firearm purchases has risen since 2012, and that last December's numbers were also higher than the year prior. This means that more and more households contain guns, many of which are highly valuable. For those in New Jersey who have a valuable firearm collection, the topic of gun trusts within estate planning may be of interest.

Family conflict can make estate planning complicated

At a recent conference of the American Institute of Certified Public Accountant's Personal Financial Planning, a session was held that focused on the tensions within families that can make it difficult to address inheritance issues. The speaker was able to illustrate many sources of tension and strife that can impact the estate planning process. These matters may be of interest to many New Jersey families who are addressing estate planning needs.

Single parents can benefit from even a simple estate plan

Parents typically have just about anything but free time on their hands. This may be even more true for single parents in New Jersey. While it's understandable that some single parents feel as though they don't have a spare second to consider what might occur should anything happen to them, it's actually critically important that they give this considerable thought. When an individual is the only parent a child knows, even a simple estate plan can help protect his or her future.

Three keys to a solid estate planning package

When considering the best way to construct one's estate plan, many in New Jersey are unsure of where to start. Estate planning is a highly personal matter, but there are certain elements that can benefit virtually everyone. Among these are a basic will and two different types of power of attorney documents.

How does Facebook factor into estate planning?

New Jersey residents who are beginning the process of planning their estate often work with a series of lists. These may include lists of assets, lists of heirs and lists of the documents required to put their wishes into a cohesive estate planning solution. Often absent from those lists are details about social media accounts, which, in our digital age, is a topic that deserves attention.

Including faith within one's estate planning

Many New Jersey residents hold their religious beliefs as one of the most fundamental aspects of their lives. Faith plays a major role within many families, and shapes the choices that are made throughout the lives of individual family members. When it comes to estate planning, however, many people fail to include their faith within their overall plan.

Farms often require a complex estate plan

When parents have built a business and raised a family under the umbrella of that enterprise, they often expect that their children will want to follow in their footsteps. This, however, is often not a dream that becomes realized, as adult children tend to have their own ideas about how to chart their course within the world. For farm families in New Jersey, this can be especially true, as choosing an agrarian life is not something that everyone desires or is equipped to handle. When considering how to pass along an asset as complicated as a family farm, a complex estate plan is often required.

Sibling rivalry to be anticipated during estate planning

Some level of sibling rivalry exists in most families. New Jersey readers may identify with one sibling believing that the brother or sister always received more attention, more money and nicer clothes. Such feelings can resurface upon a parent's death, and it is not uncommon for one sibling to contest a will that leaves more to the other sibling. In many cases, the "favored" child is appointed as the administrator or executor of the estate. Sometimes, parents fail to keep sibling rivalry in mind during their estate planning.

How do frozen eggs and fertility factor into estate planning?

When considering various estate planning options, many in New Jersey follow a similar path of the loved ones who have gone before. While there are many and varied virtues to be found in tradition, estate planning requires a far more forward thinking approach, especially in regard to advancements in medicine and technology. A prime example lies in the issue of fertility treatments, and how new approaches could create complicated genealogical lines.

Discussing estate planning during New Year celebrations

For many in New Jersey, the prospect of discussing end-of-life planning with loved ones is distressing. Few people want to look this particular reality of life directly in the eye, which leaves many families with little idea how to handle the affairs of their deceased loved ones. While Thanksgiving and Christmas may not offer ideal settings to discuss estate planning  issues, many people find the New Year's gatherings are far less emotionally charged.