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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...
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...
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...
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...
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...
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...
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...
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.
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...