As a newbie estate planner, many moons ago, I heard the “gurus” of estate planning tout the benefits of New Jersey being a “probate friendly” state. This meant that New Jersey’s court systems were easy on a family’s representative to adhere to the rules and formalities to admit the Will to probate and was also relatively inexpensive In fact, I remember an incident at a Continuing Legal Education seminar once when an older, more experienced estate planning attorney berated a young managing attorney of a boutique Trusts & Estates firm for what he called “churning out” Revocable Living Trusts (or “Rev Trusts”, as we often call them) just to make […]
Read More »Documents in Advanced Health Directives, and Why They Are More Important Now Than Ever
Amidst an ongoing pandemic, you may have heard some well-meaning declarations urging you to make sure your health care documents are in order. However, there are many kinds of health care documents, and it can be difficult to know what you need and what gaps there may be in any documents you already have prepared. This article is not intended to serve as legal advice, but it may provide an overview of the available types of health care documents so that you are prepared to speak to an attorney about ensuring you have a plan in place that is comprehensive and accurately represents your wishes.   The first and most […]
Read More »Spousal Lifetime Access Trusts (SLATs)—How Can They Help?
Chocolate and flowers have been exchanged, dinner reservations have been made and fulfilled, and Valentine’s day has officially passed. However with the end of February approaching, there is more you can do for your spouse than buying gifts or sharing a romantic evening. Although it’s far from a traditional Valentine’s gift, a well-written and up-to-date estate plan is one of the most important ways you can protect your loved ones. There are many estate planning strategies available to help you meet your personal goals, whatever they may be. In the spirit of the time of year, a nice gift exchange between clients and their spouses is a Spousal Lifetime Access […]
Read More »We launched a new program!
How this program may help ensure your estate plan will never let you & your family down at the critical moment We hear it all the time when talking about estate plans—“I already have an estate plan in place, so I don’t have to worry.” But there are a few major things people don’t realize about estate planning that can put them at risk of not being prepared when the time comes. Plans need to be constantly updated, monitored and maintained on an ongoing basis. What was set up many years ago may not necessarily be current today. Asset changes, law updates and family changes can cause a well […]
Read More »How Remote Are Remote Contingency Provisions?
As an estate planning attorney, it is my job to talk about death and taxes in a very matter of fact manner. When I sit down with my clients to design their documents, I try to take emotions out of the conference room as we go through what should happens at first death or second death. When we come to the final part of the Will design, I ask – “In the unlikely event that all of you (you, your spouse, your kids, your grandkids) are not around to take their share, who would you want your assets to go to?” – and I get this uncomfortable laugh and oftentimes […]
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