New Jersey fans of the television show "The Sopranos" may have already heard that James Gandolfini passed away recently. Now that his family has to settle his estate, it has come to light that Gandolfini's estate plan may not have been well thought out. His family is going to have to pay nearly $30 million in inheritance tax.
What do you want your estate plan to do for you?
Most people in New Jersey are aware that they should have an estate plan. What many people aren't sure of is what they want that estate plan to accomplish. It's not just about how much or what assets a person wants to leave to each family member, it's how that amount or those assets will be left.
New Jersey estate planning: long-term-care insurance
Some people in New Jersey are going to need long-term-care as they age and some are not. For many people, there just isn't any way to predict what will happen. This is partly why estate planning is so important. It's about more than drawing up a will and trust -- it's also about planning for the long term.
New Jersey estate administration: When assets go missing
A New Jersey couple purchased some IRA's back in the 1980's at a local bank. Then, around close to 22 years later, the husband, whose wife has since passed away, has been attempting to cash them. What happened next is the nightmare of every estate administration -- the bank has no record of the IRA's ever existing.
New Jersey estate planning: What happens to the family pet?
There are a lot of decisions to make when setting up an estate plan. Taking care of loved ones and deciding what assets will to go which beneficiaries can be overwhelming at times. But what about a person's pet? Many states, including New Jersey, allow for a person's estate planning to include a trust set up for the family pet.
