A previous post on this blog discussed what a New Jersey resident, can do if he or she suspects that a loved one is being taken advantage of by his or her attorney in fact. To review, an attorney in fact is someone the loved one appointed via a power of attorney to handle the loved one's financial affairs.
When you are working on your estate plan and granting power of attorney, this person will need to be someone you fully trust since they you are giving them considerable power over your finances, health and property.
A previous post talked about a type of trust called a living trust. A living trust is a convenient vehicle for New Jersey residents who have wealth to hand that money down to the next generation. Oftentimes, the living trust in the long term can save a family the costs of probate and may have tax benefits as well.