For many families, the home is both a cherished place and a significant financial asset. Whether you want to protect it from probate, plan for incapacity, or manage how it’s passed to your loved ones, placing your house in a trust can be an effective estate...
Trust Administration
Here are the articles on Trust Administration
Grantor vs. Non-Grantor Trusts: Which Is Best For Your Estate Plan?
Defining a Trust A trust is a formal arrangement where a trustor or settlor assigns another party, the trustee, the authority to hold title to property or assets for a beneficiary's advantage. The primary purpose of a trust is to safeguard the trustor's assets, ensure...
Living Trust vs Will in New Jersey: Understanding the Differences
In the realm of estate planning in New Jersey, two primary instruments often come into focus: living trusts and wills. Each has its distinct advantages and appropriateness depending on individual circumstances. This comprehensive guide aims to elucidate the...
Protecting Inherited Assets: How a Retirement Plan Trust Benefits the Beneficiary of a Retirement Account
Retirement Plan Trust Planning your retirement? Wondering how to make the most of your retirement savings while safeguarding the interests of your heirs? Introducing the Retirement Plan Trust, a powerful instrument tailor-made for those who want to combine the...
Making the Most of Your Estate with Irrevocable Income-Only Trusts
Having Your Cake and Eating It Too Recently a healthy single woman came to my office with the following demand: “Protect my money in case I ever enter a nursing home, make sure my children do not pay any capital gains tax on the appreciation of the assets, and protect...
Qualified Personal Residence Trust or Personal Residence Trust: Which Is Right For You?
Estate planning is an essential step in protecting your assets and ensuring your loved ones are cared for after your passing. When it comes to transferring ownership of your home or vacation property, a Qualified Personal Residence Trust (QPRT) or Personal Residence...
New Jersey Irrevocable Trust Law: What You Need To Know
Are you a New Jersey resident looking to create an irrevocable trust? If so, you'll need to be familiar with the state's laws governing this type of trusts. In this blog post, we'll provide an overview of New Jersey's irrevocable trust law, including key information...
Filing as a Surviving Spouse: 5 things you need to know
About 1.5 million Americans become widows and widowers in a normal year, but the pandemic has boosted that significantly. The National Center for Family and Marriage Research at Bowling Green State University estimates that about 380,000 of more than 700,000 people in the U.S. who have died from Covid were married.
New Jersey Medicaid and the Primary Residence
The Problem: Will I Lose My Home If Nursing Home Care Is Ever Needed? What is the best way to protect your primary residence from Medicaid if nursing home care is ever needed? Many senior citizens are concerned with the thought “what will happen to my primary...