Call To Schedule An Appointment
Cherry Hill856-673-0048

Estate planning is about more than taxes

Many New Jersey residents are aware that avoiding estate and inheritance taxes is one of the reasons that people create an estate plan. However, there are other -- and some would say more important -- considerations in estate planning. What an individual believes his or her family members will do with their inheritance could shape the decisions made.

What an individual knows about the members of his or her family could affect how any assets are passed. For example, one child may be ambitious and have a good head on his or her shoulders, while another child may have difficulties that make a parent believe that an inheritance may be squandered if left directly to the child. Nearly every parent wants to help his or her children through life, and finding a way that any assets left to a child will best serve him or her could become a priority.

Of course, reducing or eliminating the amount of estate taxes that may be due is part of the equation, but how an inheritance will be left could be more based on the personality of an heir. When creating an estate plan to accommodate all of the relevant factors, it is not surprising that the individual's belief system, experience and values will play a central part. Another factor is what kind of legacy a person wants to leave and for how long.

With the right estate planning, all of a New Jersey resident's goals can be met. There are numerous options available to meet a person's goals when it comes to providing for family well after his or her death. The documents that make up an estate plan are versatile and can often be tailored to any family dynamic. 

Source: Forbes, "Estate Planning Fears That Keeps Us Up At Night", John E.Girouard, Oct. 29, 2014

No Comments

Leave a comment
Comment Information
Law Offices of Nancy M. Rice
Representing clients in Ocean City and communities throughout New Jersey.


Rice & Quattrone, PC
1236 Brace Road, Suite F

Phone: 856-673-0048
Fax: 856-673-0052
Map & Directions

Rice & Quattrone, PC
Linwood Professional Plaza
2021 New Road, Unit #9
Linwood, NJ 08221

Phone: 609-398-3447
Fax: 856-673-0052
Map & Directions

Cherry Hill Office

Contact the firm

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy