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estate planning Archives

Make sure to update your beneficiary designations

This blog has previously discussed that there are ways a New Jersey resident can pass property along to their loved ones without having to draft a will or go through probate. In addition to trusts, people can use vehicles like jointly held real estate, joint bank accounts and other means to pass along property.

What is a spendthrift trust and how can it help me?

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.

What can I do about end-of-life decisions?

As this blog has mentioned, it is very important for New Jersey residents to implement a legal plan so that their assets get passed down to the next generation as they wished following their deaths. However, creating a will or trust is not the only critical step in the estate planning process.

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