Planning for the distribution of assets and wealth across generations is important when planning your estate. However, many families struggle to keep their wealth beyond the third generation. They call this the "third-generation curse." To avoid this problem, you need...
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Estate Planning
Why irrevocable trusts can save money in New Jersey
Irrevocable trusts in New Jersey can assist with asset preservation. They help people shield their wealth from various financial threats, including potential creditors and legal claims. This protective measure can also help more wealth accumulate over the long term....
What are some signs of undue influence?
Undue influence may lead loved ones to make choices not in line with their true intentions. In the realm of estate planning, it is important to be aware of signs that might indicate the presence of this problem. Part of this includes shedding light on the importance...
Securing your will against contestation
Your last will and testament allows you to ensure the carrying out of your final wishes. It is your vehicle for putting in place measures for your loved ones' care. However, it is not uncommon for disputes to arise regarding estates of both small and large value. By...
How should you leave assets to an unmarried partner?
Relationships come in many different forms, and not all couples choose marriage. If you are in a committed partnership but are not married, it is important to consider the distribution of your assets should something unexpected happen. Leaving assets to an unmarried...
3 things your New Jersey executor should know
When you appoint someone the executor over your New Jersey estate, you give that party several specific responsibilities. Typically, it is the executor’s job to close out financial accounts, inventory assets and notify and distribute those assets to your intended...
3 things to remember when drafting a financial power of attorney
Your New Jersey estate plan does not have to be complex to prove effective, but there are certain elements most estate plans should include. A durable power of attorney, also called a financial power of attorney, is one such element, and there are certain things to...
Why an estate plan is necessary even if you do not have kids
Many people in New Jersey wait to create an estate plan until they experience a major life event, such as a marriage or the birth of a child. However, having an estate plan helps you maintain control over several key aspects of your life, regardless of whether you...
How can you chose an executor?
During your estate plan, you have to choose your executor. According to CNBC, your executor is the person who makes sure that medical professionals, families, friends and the legal system honor your wishes when you die. Choosing an executor is a critical part of the...
What duties do executors have?
The executor of your estate will hold the most important position. This is why it is crucial to determine in advance what person you want carrying these duties. But to do that, you need a good handle on what those duties are in the first place. Exactly what sort of...
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