40% of People Say They Don’t Have Enough to Make a Will
Four in 10 people believe they do not have enough assets to make a will, according to Caring.com’s 2024 Wills and Estate Planning Study, which surveyed more than 2,400 individuals. This statistic reflects a common misconception [...]
Who Gets Copies of the Will After a Person Dies?
Many movies and television shows feature a scene where family members gather after a relative has died to listen to the reading of the will. While this makes for a dramatic scene, it is one [...]
Your Will Can Protect Your Children With Disabilities
August signifies National Make-a-Will Month. For the one in five families who care for children with special needs, estate planning is crucial. Parents of a child with a disability face numerous challenges and concerns. One 2022 study found [...]
What Not to Include in Your Will
If you are considering preparing a will, this is a great first step in planning for the future. After reflecting on the basics, such as whom you want to be in charge of administering your [...]
Do You Need a Lawyer to Write a Will?
While you aren't technically required to hire a lawyer to draft a will, failing to do so can lead to costly problems for your family and other heirs. A will is a legal document that [...]
Management of an Insolvent Estate in New Jersey
Traditional estate planning is primarily designed to ensure that your belongings and assets pass in an orderly manner after your death, and that they reach the people you intend. That’s an important and admirable goal, [...]
What Role Does a Letter of Instruction Play in Estate Planning?
Unlike a will, trust document, nomination of guardian, or advance healthcare directive, a letter of instruction is not a binding legal document. You may not see “letter of instruction” on an estate planning checklist, and [...]
Options for Updating Your Will in New Jersey
For most people, writing a will isn’t a one-and-done event. Unless your will is drafted very near the end of your life, chances are good that changes over your lifetime will make it necessary to [...]
Digital Estate Planning for the 21st Century
The need for digital estate planning is fairly new, but it’s a significant and growing issue. From ownership of digital assets to control of email and social media accounts, the modern estate administrator has a [...]
5 Reasons to Avoid Probate (even in New Jersey)
When you hear about an alternative estate planning option such as a living trust, one of the key selling points mentioned is often that you can “avoid probate.” However, if you don’t know much about [...]
Your Will
Your will is a legally-binding statement directing who will receive your property at your death. It also appoints a legal representative to carry out your wishes. However, the will covers only probate property. (Probate is [...]
Choosing a Personal Representative for Your Estate
When you prepare a will in New Jersey, you’ll choose a personal representative to handle administration of your estate. You will typically also choose a successor, in case the personal representative you chose is unable [...]
Is a Handwritten Will Valid in New Jersey?
A handwritten will, also known as a “holographic will,” may be valid if certain requirements are met. In fact, it may seem that a handwritten will has advantages. For example, a holographic will can be [...]
Estate Planning for Mixed Families
Estate planning for mixed families is a bit more complicated, and requires specific consideration of the treatment of stepchildren and the path assets will follow after the death of one spouse. When one or both [...]
How Do I Change a Will in New Jersey?
Creating a will is an important step in estate planning, but circumstances change. It is important to review your will and other estate planning documents periodically, and to assess whether or not they are still [...]
What is a Pour Over Will?
When you start thinking about protecting your loved ones with an estate plan, the terminology you encounter may be confusing. Maybe you’re thinking about creating a will, but then you see mention of self-proving wills [...]
What is a Self-Proving Will?
The phrase “self-proving” will suggests that no further evidence of the document’s validity is necessary. While that’s true in a sense, a self-proving will is subject to the same witness requirements as any other written [...]
Identity Theft Can Reach Beyond the Grave
When you lose a loved one, identity theft is probably the furthest thing from your mind. Clearly, it’s not an issue that you want to or should have to concern yourself with when a family [...]
What To Do When a Loved One Passes Away
Whether your spouse has just passed away or you have lost your mom or dad, the emotional trauma of losing a loved one often comes with a bewildering array of financial and legal issues demanding [...]
Use Your Will to Dictate How to Pay Your Debts
The main purpose of a will is to direct where your assets will go after you die, but it can also be used to instruct your heirs how to pay your debts. While generally heirs [...]
The Elective Share and Other Rights of a Surviving Spouse
Most people know what when a married person dies without a will, the surviving spouse is entitled to a significant share of the deceased’s estate. Depending on the family structure and other natural heirs, the [...]
At What Point Do I Need a Will?
If you’re over the age of 18 and are thinking about the right time to create a will, chances are good that the answer is “now,” or even “you should have taken care of that [...]
What to Expect from the New Jersey Probate Process
Most people know that when a person passes property through a will or dies without having made provisions for distribution of the property he leaves behind, the estate must pass through probate. However, many don’t [...]
DIY Will Pitfalls
You’ve undoubtedly heard that it’s important for all adults to have a will or other legal plan for passing assets and getting debts settled when they pass away. You may also have heard that, despite [...]
Single and Childless? You Still Need a Will
Most American adults don’t have wills. Reasons vary, including procrastination, believing they’re too young to need a will, not thinking they have enough property to bother with estate planning and discomfort thinking about end of [...]
What are the Duties of the Administrator of a New Jersey Estate?
Serving as the administrator of an estate is more complex than many people anticipate. Whether you’re choosing the administrator you’ll name in your will or have been appointed administrator and are unsure of your responsibilities, [...]
Who Inherits When There’s No Will?
Many people assume that their spouses or children will automatically be provided for upon their deaths. With that expectation, it’s easy to view a will or living trust as a tool that may make the [...]
Estate Planning: Why Me, Why Now, and Is a Will Enough?
You have worked hard for years, have family members and friends you care about, and have approached a time in your life when “estate planning” sounds like something you should do, but you are not [...]
Plan Your Estate to Avoid New Jersey Probate Conflicts
The loss of a loved one puts stress on individuals and on the family dynamic. Adding money and property to the mix can be a recipe for conflict—conflict that sometimes ends in estate litigation. When [...]
Managing Estate Debts for the Good of Your Heirs
Very few of us manage to plan our finances neatly enough that we die with zero debt. Even if you live largely debt-free, timing alone will typically result in a least a few outstanding medical [...]
Do You Really Need a Will?
You May Not Think You Need a Will, but You Really Do. Most Americans do not have a simple will as part of their estate plan. You might believe that a will is only for [...]
Avoid Multi-State Probate Pitfalls with a Comprehensive Estate Plan
Traveling between New York and New Jersey is a routine matter for many local residents. It’s even common to live in one state and work in the other. With this frequent movement between states, it’s [...]
There’s More to New Jersey Estate Planning than Writing a Will
If you have a will and it’s up to date, you’re a step ahead of most Americans. Data from various sources puts the percentage of adults in the United States who do not have wills [...]
Will v. Living Trust: What’s the Difference?
People often ask whether a will or a living trust is “better.” The answer is that there is no one-size-fits-all answer. The right structure for your estate plan depends on the size of your estate, [...]
Tools You Can Use to Leave Words of Wisdom to the Next Generation
You come into the world a blank slate, and as you grow, you gain wisdom. You've planned your estate to leave physical assets to beneficiaries, so now think about leaving them something that’s just as [...]
3 Decidedly Dumb Ways to Leave an Inheritance for Your Children
Estate planning offers many ways to leave your wealth to your children, but it’s just as important to know what not to do. Here are some things that are all-too-common, but textbook examples of what [...]
Avoid Living Probate: How to Keep Guardians and Conservators Out of Your Estate
While most proactive individuals know the importance of having a well-rounded estate plan, it is typically considered as something that will take effect after they have passed away. But there are in fact many ways [...]
Preventing a Will Contest
Emotions can run high at the death of a family member. If a family member is unhappy with the amount they received (or didn't receive) under a will, he or she may contest the will. [...]
Things to Discuss with Your Estate Planning Attorney
Why an estate plan is more than just a will. A will is a good start, but there’s much more to estate planning that drafting and signing a will. A will won’t necessarily preserve your [...]
Why a Trust Is the Best Option for Avoiding Probate
As Ambrose Bierce once darkly observed, “Death is not the end. There remains the litigation over the estate.” Obviously, ideally, when someone passes away, the paperwork and material concerns associated with the estate are so [...]
The Pros and Cons of Probate
In estate planning circles, the word “probate” often comes with a starkly negative connotation. Indeed, for many people — especially those with larger estates — financial planners recommend trying to keep property out of probate [...]
3 Reasons You Want to Avoid Probate
When you pass away, your family may need to visit a probate court in order to claim their inheritance. This can happen if you own property (like a house, car, bank account, investment account, or [...]
5 Tragic Mistakes People Make When Leaving Assets to Their Pets
A pet trust is an excellent way to make sure your beloved pet will receive proper care after you pass on. The problem, of course, is that you won’t actually be there to see that [...]
Understanding the Irrevocable Life Insurance Trust
Life insurance can give great peace of mind to the insured by providing for their loved ones after their death. Life insurance benefits can help pay for your children’s college education or provide for your [...]
Will My Will be Valid if I Move to Another State?
One common method of estate planning is a will. A will distributes your estate and contains certain instructions for your beneficiaries. Individuals often question whether their will will be valid if they move to another [...]
3 Celebrity Probate Disasters and Tragic Lessons
With extreme wealth accumulated, one would assume that celebrities would take steps to protect their estates. But think again: Some of the world’s richest and most famous people enter the pearly gates with no estate [...]
Did you include your grandkids in your will? 5 Tips to Avoid Common Problems
As we build wealth, we naturally desire to pass that financial stability to our offspring. With the grandkids, especially, we often share a special bond that makes us want to provide well for their future. [...]
5 Things Every New Mother Needs to Know About Wills
As a new mother, you naturally want to ensure your new baby’s future in every way. For many new mothers, infancy is a time for celebrating new life, and making a will is the last [...]
Estate Planning for Cross-Border Families
Estate planning is always a highly involved process but for cross-border families, estate planning can be rife with difficulties. Those who own assets in foreign countries or are married to a non-citizen spouse have additional [...]
Transferring a Mortgaged Property into a Living Trust
Estimates from online real estate search firm Zillow indicate that nearly one-third of homeowners own their home free and clear. For the unlucky two-thirds who have either one or multiple mortgages on their home and [...]
Stepped-Up Basis in Inherited Assets
When considering leaving property to beneficiaries, tax considerations factor heavily in estate planning. Since one is hard pressed to find any aspect of our life (and death) that is not subject to some form of [...]
Why Most Estate Plans Do Not Work
Estate planning can be a tedious and complicated process, which if not conducted properly can result in assets being wasted due to being placed in expensive probate proceedings or unduly subjected to creditor claims and [...]
Do You Need to Avoid Probate?
Probate is the legal process of presenting your Will to the Court after your death to authenticate it, and appoint your Executor. Your Executor must be appointed by the Court in order to collect and [...]
Who Needs Estate Planning?
Estate planning isn’t about how much money you have, it's about protecting what you have for you, during your lifetime and for those you love after you’re gone. It ensures what you have gets to [...]
Estate Planning for LGBT Couples
In 2015 when the Court decided the landmark case, Obergefell v. Hodges, which held that the Due Process Clause of the Fourteenth Amendment guarantees same-sex couples the right to marry and these marriages must be [...]
IRAs and Estate Planning
In 2014, the U.S. Supreme Court’s decision in Clark v. Rameker altered the landscape of estate planning strategies concerning protecting inherited IRAs from creditor claims. In Clark, the court considered whether a person who had [...]
Why Bequests to Minors Should be Poured into a Testamentary Trust
There are many varieties of trust available for use in estate planning. A majority of these trusts are established while the grantor is still alive. A testamentary trust differs from other trust structures in that [...]
The Perils of Promises…Marlon Brando’s Story
Legendary Oscar-winning actor Marlon Brando left the bulk of his estate (worth approximately $26 million) to his producer and other associates. Brando created a valid last will and testament. However, he did not include his [...]
Michael Jackson’s Estate Pulled into Seemingly Endless Probate Court Battles
Michael Jackson, the “King of Pop,” had always been a controversial superstar. Over the years, he became the father of three children, Prince Michael Jackson II, Paris-Michael Katherine Jackson, and Michael Joseph Jackson, Jr. While [...]
Wills, Trusts & Dying Intestate: How They Differ
Most people understand that having some sort of an estate plan is, as Martha Stewart would say, a “good thing.” However, many of us don’t take the steps to get that estate plan in place [...]
Wills vs. Trusts: A Quick & Simple Reference Guide
Confused about the differences between wills and trusts? If so, you’re not alone. While it’s always wise to contact experts like us, it’s also important to understand the basics. Here’s a quick and simple reference [...]
3 Mega-Celebrities Who Died Without A Will: Do Not Follow In Their Footsteps!
A will documents who gets what (and when) after you die. Without a will, state law doles out your belongings. In many cases, your assets may end up in the hands of complete strangers. That’s [...]
Celebrities Who Failed To Recognize Unborn Children in Their Wills: A Teachable Lesson
Having an estate plan that protects and provides for your loved ones is not only smart, it’s necessary. Without one, your family, friends, or the charitable organizations you wish to provide for may not receive [...]
Sonny Bono’s Procrastination in Creating a Will Led to Years of Estate Battles
Sonny Bono, the singer, songwriter, restauranteur, and former Congressman, died in a tragic ski accident in 1998 at the age of 62. His net worth was just under $2 million at the time of his [...]
Flo Jo’s Tragic Mistake: A Missing Will
If you’ve created a will, congratulations! You have made your intentions clear to the world and have provided for your loved ones based on what you determined was best. One caveat, and Rule #1 when [...]
Are Handwritten Intentions Enforceable? Princess Diana Thought So…
Princess Diana of Wales was one of the world’s most loved celebrities – and one of the richest. Her tragic death in 1997 was world news. The majority of her estate, reportedly worth $40 million [...]
Did Whitney Houston Leave Too Much Money To Bobbi Kristina?
Whitney Houston’s estate was worth approximately $20 million when she died – plenty to meet the needs of her only daughter – Bobbi Kristina. Sadly, only a few years after Houston’s death, Bobbi Kristina died [...]
Wills Vs. Trusts: Take Control of Your Wealth Distribution!
You work hard for your money and want to ensure that your wealth distribution goes according to your wishes upon death. Sadly, many people simply don't understand the difference between wills and trusts and how [...]
Nosey Neighbor Nellie Can Find Out About Your Probate. Really.
Most people think of probate as a private process. However, since wills are filed at the courthouse, probated estates become a matter of public record. That means your nosey neighbor Nellie can simply go down [...]
HELP! This Probate Is Taking Forever!!!
After a loved one dies, her estate must be settled. While most people want the settlement process to be done ASAP, probate can take between 18 and 24 months. Yes, you heard that right. The [...]
3 Simple Ways to Avoid Probate Costs
The bad news: probated estates are subject to a variety of costs from attorneys, executors, appraisers, accountants, courts, and state law. Depending on the probate's complexity, fees can run into tens of thousands of dollars. [...]
Skyrocketing Probate Fees – Another Reason to Avoid Probate Court
As of July 1, 2015, Connecticut probate courts earned the dubious distinction of charging the highest probate fees in the U.S. Amazingly, the Connecticut legislature voted to completely cut general fund support for the state’s [...]
Baltimore Register of Wills Can’t Find Her Father’s Original Last Will, Will Your Family Be Able to Find Yours?
While it’s not unusual for an original last will and testament to be misplaced, it is when your daughter happens to be the Register of Wills for Baltimore City. What is a Register of Wills? [...]
Caution: Writing Your Own Deed to Avoid Probate Can Lead to Unintended Consequences
One common way to avoid probate of real estate after the owner dies is to hold the title to the property in joint names with rights of survivorship with children or other beneficiaries. This is [...]
Is a Payable on Death Account Right for You and Your Family?
Payable on death accounts, or “POD accounts” for short, have become popular for avoiding probate in the last decade or so. What is a POD Account? A POD account is a type of bank account [...]
4 Tips for Avoiding a Will or Trust Contest
A will or trust contest can derail your final wishes, rapidly deplete your estate, and tear your loved ones apart. But with proper planning, you can help your family avoid a potentially disastrous will or [...]
Philip Seymour Hoffman’s Will: 3 Critical Mistakes
Oscar-winning actor Philip Seymour Hoffman died from a drug overdose in February 2014. Sadly, he left behind three young children - and a fortune estimated to be worth $35 million. He was only 46. After [...]
Why Does Probate Take So Long?
Probate can be easily avoided, but most estates are dragged through the process. Why? Many people fail to create an estate plan, so probate is required. And - others plan with just a Will, so [...]
Will Your Revocable Living Trust Avoid Probate? It Depends.
If you’ve set up a Revocable Living Trust, congratulations! You’re definitely on the right track. But…you’re only half way there. Many believe because they took the time to create a Trust, their estate will automatically [...]