Cherry Hill NJ Probate & Estate Administration Law Blog

Tax considerations are sometimes cited as a reason to have an estate plan in place. While this is certainly a consideration in some instances, it doesn't play a part in others.

Many people don't realize just how important it is to have your estate plan in place when you pass away. Consider these reasons that don't have anything to do with taxes:

• Privacy: Setting up trusts for your heirs means that they don't have to go through the probate process, which can help to keep the terms private
• Protection from creditors: Certain trusts can protect assets from being claimed by creditors, but some won't provide any protection so use caution if this is the purpose
• Guardianship: Parents with minor children can set up plans for those children as part of their estate plan.
• Care for pets: Provisions in the estate plan can ensure that pets are cared for after you pass away
• Plans for incapacity: The living will, advance medical directives and powers of attorney can provide instructions and plans if you become incapacitated
• Control over assets: Your estate plan lets you outline who is going to get what and when they will get it.

Probate disputes can be trying matters for the people who are involved. When your family members opt to dispute an estate plan, it can mean that you will have to fight for what your deceased loved one wanted you to have.

While you might think that all estate disputes need to be hashed during a trial, this isn't the case. There are times when it is appropriate for the case to go through a trial; however, many estate disputes can be easily handled through mediation. One of the things that determines if this is a good idea is the already present family dynamic.

The idea of a prepaid funeral is appealing to many people because they think that this will take the stress off their loved ones. This does seem like it would the best thing to do, but issues with prepaid funeral are more common than what you might realize. It is important that you consider this option carefully and learn about the alternatives that you have to helping your loved ones.

The money for a prepaid funeral should be protected and used only for your services; however, this isn't how it might play out. There are many cases in which the funeral home misapplies the funds or when they aren't documented at all. Unfortunately, this could throw your loved ones into a legal battle when they should be able to focus on healing after your death.

The probate process is mystifying to some people who haven't ever had to deal with it before. Some people think that when a family member passes away, you just divide up his or her stuff and move on with life. This isn't usually what needs to happen.

Many people pass away with an estate plan in place. Even when the person doesn't have one in place, there is still a certain order that needs to be followed for passing out assets. When these aren't handled in the right manner, there is a chance that the estate will end up in probate litigation.