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Posts tagged "trusts"

Conditions are favorable for estate planning

At present, several factors are combining to make for wonderful conditions for wealth preservation in estate planning. Those factors are favorable tax laws, a struggling economy, and low interest rates. Taking advantage of the current estate planning environment

Clarifying religious beliefs can assist with estate planning

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.

Problem heirs require extra planning

Inheritance can be a tricky issue in more than one way. There are often hard feelings and rivalry often at play in decisions about who gets what or how much and how they will spend or use their inheritance. There are also practical considerations concerning the potential for complications down the road. Among those who may become problem heirs are adult children, caregivers, and children-in-law.

In New Jersey, tax planning includes inheritance tax, P.1

Though inheritance tax is something many New Jersey residents may not be aware of, it is part of the reality of estate planning in this state. Inheritance tax is basically a tax imposed on an estate based on who inherits the assets. New Jersey's inheritance tax is additional to the estate tax at the federal and state level.

10 important matters to consider in estate planning, P.3

In our previous two articles, we have been discussing important areas to be aware of when thinking about estate planning. So far, we have mentioned the potential importance of maintaining harmony in the family, avoiding probate, taking advantage of asset protection opportunities, tax planning, keeping attorney's fees manageable and making sure to select successor fiduciaries and contingent beneficiaries in your estate plan. Here we offer some final suggestions.

10 important matters to consider in estate planning, P.1

Proactivity, as can be imagined-as opposed to acting out of necessity-is an essential aspect of effective estate planning. But it isn't always easy to decide which aspects of estate planning deserve the most or immediate attention.

Remarriage can complicate estate planning, P.2

In our previous post, we began looking at the types of complications remarriage can pose for estate planning. We noted that one potentially difficult situation is remarriage to a noncitizen, and that encouraging the establishment of an independent trustee and giving one's children the right to periodic accounting of trust assets can help allay their fears of the noncitizen spouse leaving the country and complicating the estate plan after the death of their parent.