Many estate disputes revolve around high-value items. The beneficiaries involved are debating how that value should be transferred to the next generation and split between them. For instance, a parent could leave a family home behind. If there are no instructions for...
Cherry Hill NJ Probate & Estate Administration Law Blog
Why should you leave some assets out of your will?
You may have read estate planning advice to remember to include all your assets in your will. And that forgetting something could lead to confusion about who you want to get it. While this is generally true, there is one category of asset you should leave out of your...
Revocable vs. irrevocable trust: which one is right for you?
A trust is one of the most important estate planning resources that you can establish. When done right, a trust can offer a variety of benefits such as reducing your estate taxes, saving time, safeguarding your privacy and ensuring that your assets go to the right...
Who pays the debts for your estate?
If you’re making an estate plan, it is wise to address debt. For instance, maybe you want to set up a trust fund in advance that can be used to cover some of these costs. There are also ways to pay down debt if you believe you are approaching the end of your life and...
How can you prove executor misconduct during probate?
An executor is responsible for administering the estate of a deceased individual and executing the wishes outlined in their will, if one has been left behind. Given their prominent role in the probate process, the law requires executors to act in the best interests of...
Does a no-contest clause always work?
When you draft a will, you hope your assets will be distributed according to your wishes. Sometimes, however, a will can be the root cause of a costly and time-consuming inheritance dispute. It’s on this basis that you may want to include a no-contest clause in your...
Should you tell people what they will or won’t inherit?
Most people do not know how much their parents own, and many believe it is much more than it is. That might lead to complacency, with them believing they do not need to save for retirement as they will inherit a large amount from you. Telling them how little you are...
How do you pick an executor? 3 questions to ask
You love your family, so you want to make sure that your estate plan is in place. You also want to make sure that you entrust the job of executor to the right person – and that can prove challenging. Because the executor of someone’s estate has a lot of responsibility...
How a trust gives you more control over your estate
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...
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...