If you’re making an estate plan, you do have some control over what happens to your estate at that time. You can decide who gets which assets, for instance, or how financial accounts should be split up. You can give items away as gifts or give assets to charity. But...
Cherry Hill NJ Probate & Estate Administration Law Blog
3 mistakes to avoid when choosing a guardian for your child
Drafting an estate plan largely centers around choosing who will inherit your assets when you die. Nonetheless, there are also major decisions to factor in. If you have young children, then you most likely want to nominate someone to look after them if something...
Making grandchildren’s education part of your estate planning
Whether you’re preparing to update your estate plan to include your grandchildren or you’re just now developing your plan, you may decide that the best thing you can do for them (and their parents) is to help fund their college education. Whether your grandkids are...
Estate planning: Why there is no ideal age to get started
Many people often wonder. ‘Is there an ideal age to begin planning for the future of your estate?” The answer to that isn’t a straightforward one, as it largely depends on your individual circumstances and goals. It’s natural to assume that estate planning is a...
Why probate can be an issue for heirs
When a testator passes away, their will is submitted to probate court. The probate court judge should review and authenticate the will. Once it’s clear the will is valid, the executor of the estate is then responsible for the distribution of assets. However, probate...
I have no heirs. Do I still need an estate plan?
Some people have no living relatives – or only very distant kin they may have never even met. These folks may believe that they don’t need an estate plan. But the reality is that these are the ones who may most need official documentation of their intentions. Let’s...
Worried about a will contest? Learn about testamentary capacity
A final will is among the most important documents you may ever create. In it, you can let everyone you love know what you intend to happen to your estate after you die. Unfortunately, well-meaning family members who believe you may have lacked the sound mind to...
3 conversation starters for discussing long-term care with elders
There is little doubt that conversations with parents or grandparents about getting older can be challenging. Most elderly people want to preserve their independence and dislike it when someone younger tries to tell them what to do. Of course, most everyone wants to...
The real goal of a no-contest clause
A no-contest clause is an interesting estate planning tool. Essentially, it’s just a clause you can put into the estate plan saying that, should one of the heirs challenge that plan, they won’t get any of the assets. For example, this is sometimes done with unequal...
Who pays your property taxes when you pass away?
You’re making an estate plan when you realize that you’re not going to be able to pay all of your bills before you pass away. For instance, maybe you pay your property taxes twice a year. But if you pass away before that payment is due, the government is still going...