Strategic gifting often plays a major role in someone's estate or retirement planning. Diminishing the value of your assets intentionally over several years can mean that you qualify for certain state benefits or that you avoid estate taxation when you die. It's...
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Cherry Hill NJ Probate & Estate Administration Law Blog
Aging in place could be a viable option for elderly relatives
Most senior citizens dread the thought of moving into a long-term care facility or nursing home. But they and their loved ones might worry that they are no longer safe living alone at home. What can be done to resolve the situation? For many senior citizens, aging in...
Talking to your heirs in advance to avoid conflict later
As a parent, the last thing you want your estate plan to do is to create conflict for your children. You want them to be able to come together at an emotional time and support each other. You want them to have lasting relationships that stand the test of time. You...
You hate the executor of your parent’s will, but can you remove them?
The executor of a will takes on a big responsibility. Once they accept that responsibility, however, they’re expected to behave responsibly. They even take an oath that they will administer the estate according to the law and the decedent’s wishes. Most of the time,...
What is a HIPAA release?
Health care professionals must comply with specific rules to protect people’s health information. The Health Insurance Portability and Accountability Act of 1996 (HIPAA) lays out the regulations. However, there may come a time when you need someone else to access your...
Why gifting assets may not be right for you
If you give away assets while alive, it can reduce taxes paid on your estate when you die. However, before you go giving away everything, it is important to realize two things. You probably have nothing to gain from doing so, and secondly, it might even harm you to do...
5 tips for choosing an executor of your estate
An executor or personal representative is the term used for the person who will take charge of distributing your estate on your death. When making your estate plan, you should think long and hard about who could fulfill this role. Choosing an executor can be...
Beware of Medicaid estate recovery
Planning for the chance that you need long-term health care is among the most complicated of all estate planning tasks. Get it wrong, and you could see your entire estate disappear into the hands of health care providers, leaving nothing for your children. Medicaid...
Why does probate take so long?
If you are eagerly awaiting your share of an inheritance, it can be disheartening when things seem stuck in probate. Before you start to blame people for the delay, it is essential to understand some of the reasons why probate can take so long. Even if you cannot...
5 reasons to tell your children about your estate plan
One of the decisions you have to make about your estate plan is what details you share with your family. Much will depend upon your particular circumstances. What works for one family might not be the best for another. What are the advantages of talking to your family...