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.
To spend or to save? This is a question that can come up throughout a person’s life. This includes during retirement. For retirees, this question can take on a slightly different form: Should I plan to spend most or all of my nest egg or should I plan to leave some behind to give as an inheritance to my loved ones?