Deciding who should take care of your children when you die can be difficult. There are so many factors to consider, and then the people you choose have to agree. But once the decision is made, immortalizing those wishes in a will as part of your estate planning is paramount, especially if you are a single parent. Otherwise, a New Jersey court may decide who gets to take care of your children.
Is it time to update your New Jersey will and estate plan?
Most New Jersey residents don't like to think about making out their will. Some may feel like it is tempting fate to sit down and decide what should happen to your assets and your family after death. The truth, though, is that it may be tempting fate to avoid this important part of life. In doing so, it is important to keep in mind that estate planning, like life, is a fluid concept -- as your life changes, so should your will and estate plan.
Estate planning in New Jersey on the rise as tax cuts expire
Several Bush era tax cuts are set to expire on Dec. 31, 2012. As Congress argues and debates about whether to extend the tax cuts or let them expire, New Jersey residents are left to figure out how to best protect their assets. Estate planning now may save thousands in tax dollars later.
Don't overlook virtual assets in New Jersey estate planning
An individual's estate is comprised of everything that they own. Many New Jersey residents fail to realize that in addition to tangible possessions and investments, their estate planning should also includes digital assets such as online banking accounts, passwords, e-mails, etc. While one may not believe that their digital assets hold value, including information regarding their online estate in their living will can make accessing and handling these accounts easier for those left behind.
