Estate planning is an important process that involves organizing a person’s finances once they are gone and several other aspects. As with other legal agreements, parties to estate planning documents must have acted voluntarily and have been of sound mind....
Cherry Hill NJ Probate & Estate Administration Law Blog
Will storing options to consider
Creating a will is the responsible thing to do. It ensures that your wishes are known and that your assets will be disbursed based on these wishes when you pass. However, what if no one knows about your will or where to find it? If this happens, then all your planning...
Should you bring up estate planning with healthy parents?
People often think about estate planning when something goes wrong. A loved one is diagnosed with cancer, for instance, and so they start making plans for the end of their life. If you are a child who wants to talk to your parents about estate planning, however, it...
2 reasons you may have to worry about paying a gift tax
Federal tax is applied to almost all of your assets and income. Even your property and other assets you own when you die may be subject to tax again even though you paid taxes on it. Estate taxes levied by the federal government can mean up to a 40% tax rate on the...
What to look for in a guardian for your child
If you have a toddler, you need an estate plan. You may not be very old and you may assume that you have decades of life ahead of you, and you certainly may be right. But you need to make sure that your toddler will be taken care of if something unexpected happens....
2 key questions to ask loved ones about their estate plans?
Having to sit down with your parents or someone else you love to find out if they have an estate plan is difficult. It forces you to face the fact that they won’t always be around. Taking the time to do this helps to ensure that they have things ready so you won’t...
Key components every estate plan must have
Having an estate plan in place gives you control over your future while ensuring that your legacy is safeguarded. No matter what you own or your status in society, having a properly created estate plan gives you peace of mind knowing that your wishes concerning your...
How to prevent conflict over your estate
Thinking about what to do in the event that you become incapacitated may be the last thing on your mind. Often, the subject is referred to as depressing and those who discuss it are deemed to be morbid. However, the reality is that there are many benefits to having a...
Don’t make these estate planning errors
Creating your estate plan is the only way that you can ensure your loved ones know exactly what you want to happen with your estate after you pass away. Getting this in order as quickly as possible helps to ensure that they have the legal backing to follow your...
Age is not the only reason to create an estate plan
Many people believe that they don’t need an estate plan until they begin to reach retirement age. That’s when they start planning for the cost of aging, such as living in an assisted living center, and for the eventual need to leave their assets to their heirs. This...